The East Baton Rouge Council on Aging (EBRCOA) and Gulf Coast Housing Partnership (GCHP) are excited to announce the successful closing of the Lotus Village Senior Living Community transaction. Once construction begins, the project is slated to be completed within 14 months. This new development will be located in Baton Rouge’s historical Gracie neighborhood and will transform the area into a mixed-use community that is sure to attract seniors and new commerce. The development team includes New Orleans based developer, GCHP, MAP Design Group and Cobalt Construction Group.
“The need for access to safe, affordable and adaptable housing has been a frequent request of our seniors. We want the seniors of EBR Parish to know we heard them! EBRCOA is committed to serving the needs of the seniors and at the moment this is a dire need. We are excited to serve as pioneers in providing services to the aged community and we strive to continue to raise the bar. Lotus Village is a huge step in that direction and I am honored to be a facilitator as this vision comes to fruition, “stated Tasha Clark-Amar, CEO of EBRCOA.
Lotus Village will be a multi-million dollar construction project that will create a community dedicated to the needs of seniors, most importantly the need for affordable housing. Lotus Village Senior Living Community will comprise of 116 residential rental home units within 56 individual buildings. EBRCOA will partner with CareSouth Medical and Dental to provide the state’s very first Geriatric Healthcare facility with full medical, dental, vision, hearing and therapeutic services for the residents of the community.
EBRCOA is also conducting strategic conversations with a local grocer with plans to bring an open-air grocery market to Lotus Village. EBRCOA is pursuing additional partnerships and sponsorships for infrastructure enhancements for Lotus Village. According to the project plan, Lotus Village will include a Geriatric Fitness Center, a full-service grocery market, relaxing walking paths and gardens.
“We appreciate the support of our funding partners, and that of Mayor Broome and her team who have made this project possible,” said Kathy Laborde, GCHP President and CEO. “Lotus Village Senior Living Community furthers the investment GCHP and its partners have made in Mid-City. Lotus Village will provide residents with quality affordable housing and through our partnership with EBRCOA, convenient access to important health and well- being supportive services.”
Funding for the $22 million senior living project comes from Community Development Block Grant- Disaster Recovery Funds from the Louisiana Office of Community Development; 4 % low-income housing tax credits from
the Louisiana Housing Corporation, syndicated to National Equity Fund; tax exempt bond construction and permanent lending from Cedar Rapids Bank and Trust; and affordable housing support from the Federal Home Loan Bank of Dallas, sponsored by Red River Bank.