Properties

Oakwood Estates

Hammond, LA

Property Type:
Single Family
Total Development Cost:
$5,570,851.00
Financing Structure:
Conventional
LIHTC Units:
40
AMI:
40/60
Market Rate Units:
NA
Completion Date:
2008
Energy Star Partner

Oakwood Estates Subdivision is a 40-unit property located on Rogers-Moore Parkway, in Hammond, Louisiana. The subdivision consists of 31 three-bedroom and 9 four-bedroom single-family houses on individual lots. Each three-bedroom house is approximately 1,145 square feet and each four-bedroom house is approximately 1,250 square feet plus a garage, front porch and back patio.
Each house is equipped with a stove, vent hood, refrigerator, dishwasher, disposal, microwave oven, central heat and air conditioning. In addition, a washer and dryer unit is provided in each house as well as ceiling fans. All of the appliances are ENERGY STAR rated. The exterior is constructed of brick and/or vinyl siding.
The property includes a playground area, a picnic area, and a community facility all for the exclusive use of the residents.
The Oakwood Estates Subdivision was built to cater exclusively to large families. The rent structure of the property is governed by the IRS Section 42 rules and is restricted to residents earning at or below 60% of the area median income.
Preference is shown to qualified residents that are on the Public Housing Authority’s waiting list. It is anticipated that at the end of the compliance period the houses will be offered for homeownership.