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Anyone have experience with "sustainable housing" projects?
Posted on 4/22/22 at 6:44 am
Posted on 4/22/22 at 6:44 am
$35M downtown development in LC
The company building this is from New Orleans. I know that these sort of developments are more common in Nola. How have they worked out? This just seems like something that can start off with a good idea and end up being a black hole in a decade (like Section 8 on steroids).
This project would be a few blocks from downtown and the northern area of our historic/garden district where it starts to get questionable until I-10. There is a housing development literally across the street with new housing built within the last 5 years. I can't imagine those people are happy.
Am I being overly pessimistic about this?
quote:
The $35 million project, located on the 600 block of Bilbo Street, will provide more affordable and sustainable housing, an issue the city has continued to deal with since Hurricane Laura’s Category 4 landfall in August 2020. The first phase, which includes 70 units, is set to break ground by the end of this year, with construction taking 14 months.
Tom Leonard, CEO of HRI Properties, said the project is being funded by a combination of low income housing tax credits awarded by the Louisiana Housing Corporation, Community Development Block Grant-Disaster Recovery funds administered by the state, and private dollars. He said this allows for a higher quality development that will offer much needed housing in the area.
The company building this is from New Orleans. I know that these sort of developments are more common in Nola. How have they worked out? This just seems like something that can start off with a good idea and end up being a black hole in a decade (like Section 8 on steroids).
This project would be a few blocks from downtown and the northern area of our historic/garden district where it starts to get questionable until I-10. There is a housing development literally across the street with new housing built within the last 5 years. I can't imagine those people are happy.
Am I being overly pessimistic about this?
This post was edited on 4/22/22 at 6:45 am
12
Posted on 4/22/22 at 6:52 am to SlowFlowPro
quote:
affordable and sustainable housing
quote:
low income housing tax credits
I think you already know how this will end.
Posted on 4/22/22 at 6:53 am to SlowFlowPro
So it isn’t going to become Section 8 in a few years. It’s starting out as low income housing. It says that in the article. They can’t get those credits without starting off with subsidized housing right off the bat.
Posted on 4/22/22 at 6:56 am to SlowFlowPro
Enjoy the rise in crime and hoot rat shite.
Posted on 4/22/22 at 6:57 am to SlowFlowPro
quote:
Am I being overly pessimistic about this?
No, you are being accurately pessimistic about this is.
Posted on 4/22/22 at 7:02 am to SlowFlowPro
Every one of those turns to shite in BR.
Posted on 4/22/22 at 7:03 am to SlowFlowPro
Welcome to the projects.
Posted on 4/22/22 at 7:04 am to SlowFlowPro
quote:
The company building this is from New Orleans.
I hope they don't ruin Lake Charles with crappy New Orleans style Spanish architecture.
This post was edited on 4/22/22 at 7:05 am
Posted on 4/22/22 at 7:07 am to SlowFlowPro
I bet those people will be so proud of their home and for this amazing blessing that it’ll be the best kept community in LC.
That’s what happens right
That’s what happens right
Posted on 4/22/22 at 7:13 am to Loup
quote:
I hope they don't ruin Lake Charles with crappy New Orleans style Spanish architecture.
This is what the development across the street looks like
That house sold for $335k last July, per Zillow.
That house literally faces this new development.
Posted on 4/22/22 at 7:17 am to SlowFlowPro
35 million for 130 units. That’s around $270,000 per unit. I know material costs and labor have gone up, but that sounds like a lot of profit built in, not even counting the tax credits and whatnot.
Posted on 4/22/22 at 7:27 am to SlowFlowPro
Is this next to the Chateau du lac apartments (always thought those were low income/elderly apartments), or did they raze that after the hurricane and this is going on that block?
Posted on 4/22/22 at 7:39 am to Ric Flair
Like 2-3 blocks away.
Those still stand but took major damage and have no tenants at the moment. I think a lot of those units were for disabled/elderly.
Those still stand but took major damage and have no tenants at the moment. I think a lot of those units were for disabled/elderly.
Posted on 4/22/22 at 7:58 am to SlowFlowPro
quote:
Am I being overly pessimistic about this?
Probably a pretty good reason this project is not being constructed off of McNeese St or Gauthier Road in South LC. Very surprised that are locating this so close to the historic/garden district, I wonder who owns the land or who is the "private dollars" portion of the build?
Posted on 4/22/22 at 7:59 am to SlowFlowPro
Sustainable. Cue the Inigo Montoya gif.
I hate that word.
I hate that word.
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