CAHEC Expands Affordable Housing Reach to Louisiana with New DeRidder Community

The Community Affordable Housing Equity Corporation (CAHEC) has announced its strategic expansion into Louisiana with the development of Capstone at Cedar Street, a 40-unit affordable housing community in DeRidder, Beauregard Parish. This marks the organization's first venture into Louisiana and represents a significant step in addressing the growing need for affordable housing throughout the Gulf states region.

The new construction development, located at Cedar Street in DeRidder, will serve families earning up to 60% of the Area Median Income (AMI) through the Low-Income Housing Tax Credit (LIHTC) program. CAHEC serves as the syndicator for the project, while The Banyan Foundation acts as the developer. The location was specifically chosen in a region identified as having robust economic potential, making the housing investment particularly strategic for community development.

Dana Boole, President & CEO of CAHEC, emphasized the organization's deliberate approach to expansion, stating that 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," Boole said. "The need throughout the region is ever growing and we're thrilled for the opportunity to expand our impact."

The development will feature a mix of one-, two-, and three-bedroom units designed to accommodate various family sizes. Community amenities will include open green space, a walking trail, community pavilion, and playground, creating a comprehensive living environment for residents. Construction is expected to begin in the coming months, with completion anticipated to significantly impact the local housing landscape.

This expansion comes at a critical time when many communities across Louisiana face affordable housing shortages. The development not only represents CAHEC's growing footprint but also delivers meaningful housing options in a region that has lacked new affordable housing supply. The organization's website at https://www.cahec.com provides additional information about their comprehensive approach to community investment.

The implications of this development extend beyond immediate housing needs. By investing in regions with economic potential, CAHEC's strategy supports workforce housing that can attract and retain employees for local businesses. The mixed-unit development approach ensures housing accessibility for various income levels within the affordable housing spectrum, potentially stabilizing local communities and supporting economic mobility.

CAHEC, headquartered in Raleigh, North Carolina, and Columbia, South Carolina, has built its reputation through diverse community investment strategies including low-income housing tax credits, historic tax credits, new markets tax credits, and renewable energy credits. The organization also provides loan programs, wellness and education initiatives for residents, affordable housing development, and property management services, creating a holistic approach to community development that extends beyond housing alone.