September 28, 2023 – Ruston, LA – Lakeshore Family Homes, LP located in Lake Providence, LA received an Honorable Mention as a 2023 LIHTC Development that Best Exemplifies Rural Community Impact at the Novogradac 2023 Housing Tax Credit and Bonds Conference in New Orleans today. The development is the result of a partnership between Knight Development and East Carroll Parish Police Jury Section 8 Housing.
The Novogradac Journal of Tax Credits Developments of Distinction Awards recognize excellence and honor outstanding achievement in the development of properties using the low-income housing tax credit (LIHTC), and/or tax credit developments using U.S. Department of Housing and Urban Development (HUD) financing. The Novogradac Journal of Tax Credits Awards recognizes participants who strive for excellence in community development, affordable housing, and historic preservation.
Lakeshore Family Homes 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 architect was DNA Workshop, the General Contractor was River City Builders, and the property is managed by M & T Property Management. The $10 million transaction also received an Excellence Award from Multi-Housing News in 2021 for its complexity and benefit to the community. Visit https://knightdev.co/project/lakeshore-family-homes/ to learn more about Lakeshore Family Homes.
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.
ABOUT THE AWARD
The LIHTC Development that Best Exemplifies Rural Community Impact award category was created in 2017 as a Developments of Distinction category. Since this category was added, a single winning development has been selected for each year, and honorable mentions were named in 2021 and 2022. Additional details about the award winners can be found at www.novoco.com/events/awards.
ABOUT KNIGHT DEVELOPMENT
Knight Development, formerly BGC Advantage, is an award-winning real estate development company, specializing in creating and rehabilitating affordable housing communities. For more information, visit knightdev.co.
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.