ARCADIA, La., May 22, 2018 /PRNewswire/ -- WNC, a national investor in real estate and community development initiatives, announced today that the renovation and expansion of Meadows at Arcadia, a 73-unit affordable housing community in Arcadia, Louisiana, is complete. WNC provided approximately $7 million in low-income housing tax credit (LIHTC) equity to help fund the project.
"WNC is pleased to announce the completion of the Meadows at Arcadia project, which not only rehabilitated and kept in place 48 existing affordable housing units, but delivered 25 additional units for families in need," said WNC Chief Operating Officer Michael Gaber.
Located at 1210 Crawford St., Meadows at Arcadia is comprised of 16 one-bedroom units, 49 two-bedroom units and eight four-bedroom units. The property is available to families earning up to 60 percent of the area's median income level.
Steve Perry of Meadows of Arcadia, L.P. served as the project developer. Construction took approximately nine months to complete.
About WNC
WNC, founded in 1971 and headquartered in Irvine, Calif., is a national investor in real estate and community development initiatives, as well as a leading investor in low-income housing tax credits (LIHTC). WNC has acquired more than $8.8 billion of assets totaling in excess of 1,350 properties in 47 states, Washington D.C., and the U.S. Virgin Islands. WNC's investor base exceeds 19,500 institutional and retail clients, including Fortune 500 companies, multinational banks, and insurance companies. Additional information is available at www.wncinc.com.
Contact
Julie Leber
Spotlight Marketing Communications
949.427.5172 ext. 703
julie@spotlightmarcom.com
SOURCE WNC