Lake Providence, LA – East Carroll Parish Police Jury Section 8 Housing and their development partners BGC Advantage, LLC will celebrate the completion of the Lakeshore Family Homes, LP with a Ribbon Cutting Ceremony. The parish’s first new construction development effort in decades has culminated in 45 new, affordable rental townhomes. The ceremony will take place on Monday, March 21st, 2022, near the Lakeshore Homes Leasing Office at 1230 Davis Street, Lake Providence, LA, at 1 p.m.
The well-appointed development offers low-income families 1, 2, 3, and 4-bedroom townhomes. The units feature energy-efficient appliances, including washers, dryers, ranges, refrigerators, and dishwashers, plus Energy Star-rated HVAC and windows. The site amenities consist of covered parking, a computer center, and a fitness room. Residents can enjoy outdoor amenities such as a tennis court, walking trail, and playground with a picnic area with fixed grills. Lakeshore Family Homes is a subsidized redevelopment effort that provides affordable homes and quality of life improvement programs to support physical, financial, and mental health.
“Time Magazine once called Lake Providence the poorest place in America, but today we are rich in hope. Lakeshore Family Homes represents the beginning of new prosperity for this community,” said Jackie Folks, Executive Director of East Carroll Parish Police Jury Section 8 Housing. “With our new affordable housing options and new jobs from Epic Piping, we are thrilled to witness this era of new growth. Thank you to all of the city and parish officials and our partners at BGC Advantage for bringing this vision to fruition.”
The Lakeshore Family Homes project was awarded more than 10% tax credits in 2018 and 2020 by the Louisiana Housing Corporation. Other project partners include RBC Community Investments, East Carroll Development Corporation, and Cedar Rapids Bank and Trust. The total development cost was $10,802,749, and the build contributed 170 construction period jobs and three permanent positions to the Lake Providence community. The transaction received an Excellence Award from Multi-Housing News in 2021 for its complexity and benefit to the community.
“The completion of Lakeshore Family Homes is why RBC Community Investments continues to partner with BGC Advantage and housing agencies like East Carroll Parish Police Jury Section 8 Housing. Being able to utilize our financial skills to create affordable housing opportunities is an important mission in creating stronger families and communities,” said David Urban of RBC Community Investments. “We are grateful for our partnership with Jackie Folks and the East Carroll Parish Police Jury Section 8 and honored by the trust that this community has placed in BGC Advantage,” said BGC Advantage CEO Holly Knight. “These new townhomes are an example of our commitment to grow affordable housing opportunities in the cities most in need. I want to thank all partners for making a positive difference in the lives of the residents who will call this place home.”
ABOUT EAST CARROLL PARISH POLICE JURY SECTION 8 HOUSING
East Carroll Parish Section 8 Housing helps provide decent and safe rental housing for eligible low-income families, the elderly, and persons with disabilities. They manage over 142 subsidized affordable housing units for rental assistance.
ABOUT BGC ADVANTAGE BGC Advantage is an award-winning developer that specializes in working with Public Housing Authorities and non-profit organizations to create and rehabilitate affordable housing. With offices in Louisiana, Mississippi, Texas, and Arkansas, the BGC Advantage portfolio includes 3,904 units of affordable housing developed in five years and 64 PHA RAD consultations and partnerships across 17 states. For more information, visit bgcadvantage.com.