Baton Rouge, LA – Local, state and federal officials today joined investment and development partners to celebrate the groundbreaking of Capstone at Scotlandville Apartments –the newest apartment community in the Scotlandville area of East Baton Rouge Parish.  

Mayor-President Sharon Weston Broome was in attendance and kicked off the ceremony by talking about the positive economic impact this development will have on the community. 

Capstone at Scotlandville will consist of 84 apartments located on the former site of Elm Grove Garden Apartments.   The former property will be demolished, and new construction will allow for the transformation and preservation of affordable housing in the Scotlandville area of Baton Rouge.  Units will be comprised of 2- and 3-bedroom units and will be available to residents who income qualify. In addition, the property will provide not only new units, but modern facilities where residents will benefit from ongoing supportive services.  Examples of these services are after school programs, summer feeding programs, financial wellness, health checkup programs, job training and GED classes to name a few.

“We are more than honored to have partnered with the East Baton Rouge Parish Housing Authority (EBRPHA) on this project to facilitate the new construction project.  This project could not have happened without the working relationship of the City of Baton Rouge, LHC, HUD and so many others that worked diligently to make this project a possibility.”

Many local organizations, financial institutions and government leaders played a role in developing this project.  Partners in the project include: State of Ohio Development Department, Ohio Housing Finance Agency, ABC local nonprofit, Ohio Capital Corporation for Housing, ULoanToUs Bank, I. Build Architect;

The apartment community was partially financed by equity raised from the Low Income Housing Tax Credit Program.  This federal program provides a dollar-for-dollar reduction in income taxes for developers of affordable housing in exchange for providing below-market rents for at least 15 years.  The tax credits are then sold to investors, who provide equity to the project.