Affordable Senior Housing Completed in Baton Rouge
- Jul 29, 2016
Baton Rouge—Development Inc. has completed Cypress Springs, a 144-unit affordable senior housing community in Baton Rouge. The project was oversee by C. Fred Cornforth.
Located at 8200 Cypress Road, the property includes three buildings comprised of 76 one-bedroom units and 68 two-bedroom units. Common amenities include a fitness center, central laundry facility, activity room/clubhouse, computer center, tenant storage area, sauna and picnic area.
Each unit is equipped with intercom entry, central air conditioning, kitchen appliances and a ceiling fan. The community also offers onsite management and support services, as well as 159 parking spaces.
The one-bedroom units range from $569 a month to $683. The two-bedroom units fetch $593 a month to $819 a month.
WNC, a national investor in real estate and community development initiatives, provided about $6.1 million in low-income housing tax credit (LIHTC) equity to fund the development. WNC’s investor base exceeds 19,500 institutional and retail clients, including Fortune 500 companies, multinational banks and insurance companies.