CAHEC Expands Affordable Housing Footprint with New Louisiana Development
CAHEC's expansion into Louisiana with the 40-unit Capstone at Cedar Street addresses critical affordable housing shortages in Beauregard Parish while supporting economic growth in the region.
CAHEC has announced its expansion into Louisiana through the development of a new Low-Income Housing Tax Credit community in Beauregard Parish. The 40-unit Capstone at Cedar Street represents a strategic growth initiative for the organization as it extends its affordable housing mission deeper into the Southeast region.
The development, located at Cedar Street in DeRidder, is being developed by The Banyan Foundation with CAHEC serving as syndicator. This partnership marks CAHEC's first affordable housing project in Louisiana, positioning the organization to address housing needs in a region experiencing robust economic potential. The location selection reflects careful consideration of areas where affordable housing investments can yield significant community impact.
Capstone at Cedar Street will serve families earning up to 60% of Area Median Income through a mix of one-, two-, and three-bedroom units. The community design includes multiple amenities such as open green space, a walking trail, community pavilion, and playground. These features aim to create not just housing but a comprehensive living environment that supports resident well-being and community connectivity.
Construction is expected to begin in the coming months, with the completed development addressing a critical gap in new affordable housing supply in the region. Dana Boole, President & CEO of CAHEC, emphasized the organization's deliberate approach to expansion, stating that the need throughout the Gulf states region continues to grow, making this Louisiana initiative particularly timely.
CAHEC's investment in the LIHTC program through this development demonstrates the ongoing importance of tax credit financing in creating affordable housing solutions. As a community investment organization with operations in Raleigh, NC, and Columbia, SC, CAHEC brings extensive experience in affordable housing development and resident services to this new market. The organization's broader mission includes investing in various tax credit programs and providing additional support services that extend beyond housing alone. More information about CAHEC's comprehensive approach to community development is available at https://www.cahec.com.
This expansion into Louisiana represents a significant step in CAHEC's regional growth strategy while addressing pressing housing needs in communities that have historically lacked new affordable housing development. The project's location in an area of economic potential suggests that the housing investment may also support broader community development goals and workforce housing needs.