CAHEC, a community investment organization based in Raleigh, NC, and Columbia, SC, has announced its expansion into Louisiana with the development of Capstone at Cedar Street, a new Low-Income Housing Tax Credit (LIHTC) community in DeRidder, Beauregard Parish. This marks a significant milestone in the organization's growth and commitment to creating high-quality, affordable housing solutions throughout the Southeast.
The 40-unit community, developed by The Banyan Foundation with CAHEC serving as syndicator, is located at Cedar Street in DeRidder. The development location has been selected in a region of robust economic potential, making this investment particularly impactful. Capstone at Cedar Street will feature a mix of one-, two- and three-bedroom units for families earning up to 60% of the Area Median Income (AMI). Additional amenities include open green space, a walking trail, community pavilion, and playground.
Construction is anticipated to start in the coming months. Upon completion, Capstone at Cedar Street will not only expand CAHEC's footprint into Louisiana but also deliver meaningful housing options in a region that has lacked a new affordable housing supply. According to Dana Boole, President & CEO of CAHEC, 'CAHEC continues to be prudent and deliberate when furthering its vision and partnerships. An example has been our efforts in the Gulf states and, most recently, Louisiana. The need throughout the region is ever growing and we're thrilled for the opportunity to expand our impact.'
CAHEC is a community investment organization that offers housing and life-changing opportunities to residents throughout its Southeast and Mid-Atlantic footprint. CAHEC's product areas include investing in low-income housing tax credits, historic tax credits, new markets tax credits, and renewable energy credits. CAHEC also provides loan programs, wellness and education initiatives for residents, affordable housing development, and property management services. To learn more, visit CAHEC's website.
The importance of this announcement lies in the critical need for affordable housing in Louisiana, particularly in areas like Beauregard Parish that have seen economic growth but lack sufficient housing options. By leveraging LIHTC, CAHEC and The Banyan Foundation are addressing a pressing community need while stimulating local economic development. This project exemplifies how tax credit programs can catalyze private investment in underserved communities, providing not just shelter but also amenities that enhance quality of life.
For residents of DeRidder and surrounding areas, Capstone at Cedar Street offers an opportunity to live in a new, well-designed community at an affordable cost. The development's proximity to economic hubs means residents can access jobs and services without the burden of excessive housing costs. As CAHEC expands its footprint, it continues to demonstrate a model for sustainable, impactful community investment.
