WNC has renovated and expanded Meadows at Arcadia, a 73-unit affordable housing community in Arcadia, La. The company contributed approximately $7 million in low-income housing tax credit equity to fund the project. Steve Perry of Meadows of Arcadia LP served as the project developer.
Located at 1210 Crawford St., the property provides easy access to Interstate 20. Meadows at Arcadia features 16 one-, 49 two- and eight four-bedroom units, all restricted to families earning no more than 60 percent of the area’s median income.
“WNC is pleased to announce the completion of the Meadows at Arcadia project, which not only rehabilitated and kept in place 48 existing affordable housing units but delivered 25 additional units for families in need,” said WNC COO Michael Gaber, in prepared remarks.
The project took roughly nine months to be completed. Recently, WNC closed a $94.2 million LIHTC fund, which will be used to rehab six affordable housing properties throughout California.
Image courtesy of WNC