$4.7M Affordable Housing Property Opens in Downtown Baton Rouge
By Eliza Theiss, Associate Editor
Baton Rouge is offering affordable downtown housing for those looking to work, play and live in downtown.
The Downtown Development District (DDD) recently announced the opening of the 22-unit affordable housing project, 438 Main Street Apartments. The property, currently in the process of vetting applicants, features one- and two-bedroom units ranging between 538 square feet and 920 square feet. Six floor plans are available at the property. Apartments feature stained concrete floors, ceramic tiles, outdoor balconies, walk-in closet, and a full range of appliances including microwave, dishwasher, in-unit washer/dryer and refrigerator. Community amenities include a community room, elevator, covered parking, courtyard and on-call maintenance. 438 Main Street also has access to public transportation, though many destinations can easily be reached on foot.
“As Downtown continues to grow it is imperative that we continue to look forward and provide housing to support our downtown work force,” said Davis Rorer, executive director for DDD.
The project cost $4.7 million and was developed by Norman Chenevert and Helena and Kevin Cunningham. According to The Advocate the developers paid $369,544 for the former Brown building’s site. Of the total development cost, $3.5 million was provided by federal funds, while $1.2 million was secured through Liberty Bank. Seventeen units will be affordable, with three units renting at $300 per month, and the remaining five apartments will be market rate.
New Orleans-based Latter & Blum, a licensed real estate brokerage firm, was chosen to handle property management services.
Photo courtesy of 438mainstreetapartments.comTags: affordable housing, Development, mixed-use, Policy, property management