Gulf Coast Housing Partnership (GCHP) has completed two developments to bring 46 affordable homes for families in Hammond, Louisiana.
Phoenix Square II and III offer one-, two-, three-, and four-bedroom apartment homes for households earning less than 60% of the area median income. The properties include units specifically for single-parent households, disabled residents, and residents with special needs.
"We are proud to continue our long-term investment in Hammond with Phoenix Square II and III, bringing high-quality, affordable housing to families who need it most," said Kathy Laborde, GCHP president and CEO. "With the help of our funding partners, we've delivered homes that are thoughtfully designed for durability, efficiency, and the needs of this community."
Building on the success of Phoenix Square I, which opened in 2017 with 40 single-family homes, these new developments expand the availability of affordable, family-oriented housing in Hammond.
Residents enjoy modern amenities such as in-unit washers and dryers, Energy Star-rated all-electric kitchens, and shared community spaces, including a fitness room, a basketball court, a playground, and a community center.
Nearly $18 million for the developments was made possible through low-income housing tax credit allocations from the Louisiana Housing Corp., with equity investments from R4 Capital. Construction financing was provided by NeighborWorks Capital. Additional support came from the Federal Home Loan Bank of Dallas through its Affordable Housing Program, and permanent financing was provided by HOPE Federal Credit Union.
Phoenix Square II and III are professionally managed by GCHP Management.
GCHP has also begun construction on Village at The Beverly III, a $13.1 million residential and commercial development and the third and final phase of a residential development in Hattiesburg, Mississippi, on the site of a former drive-in movie theater.