Vitus is preserving and renovating a 140-unit development in Baton Rouge, La., the affordable housing firm’s first project in the state.
The company’s latest deal involves the large-scale rehabilitation of La Playa Apartments, formerly known as Suburban Apartments, a development that has provided affordable housing to low-income families in Baton Rouge and East Baton Rouge Parish for 43 years.
As part of the acquisition this year, Vitus renewed a Sec. 8 Housing Assistance Payment contract and entered into an extended-use agreement that guarantees the continued affordability of the property for 35 years.
“It is great to see new companies coming to Baton Rouge and investing time and money to improve our city,” said Erika Green, councilmember for District 5 in Baton Rouge. “This project is going to preserve local affordable housing options and provide a home to residents for many years to come.”
Vitus’ $16.5 million investment will cover interior and exterior improvements, including full kitchen and bathroom remodels, new HVAC systems in all units, new roofs and windows, conversion of seven units to be Americans With Disabilities Act complaint, and a range of site repairs. In addition, the property will receive a new a community room, a computer lab, a community garden, an outdoor walking path, and a picnic area.
To honor Vitus’ commitment to environmentally friendly construction and housing, upgrades will include high-efficiency lighting packages, low-E coated windows, Energy Star-qualified appliances, and high-efficiency plumbing fixtures.
In addition to the physical rehabilitation process, Vitus is working with Rainbow Housing Association Corp. to offer resident services. This partnership allows Vitus to provide financial literacy, employment readiness, health and nutrition, computer training, crisis intervention, and parenting programs to residents. Rainbow Housing also will use a referral form and call center to connect tenants to valuable resources, such as food and clothing assistance, crisis intervention, and online programs for General Education Development and English as a Second Language.
“Vitus specializes in protecting and extending the physical life of properties for residents in need,” said Samantha Cullen, development manager for Vitus. “Through our partnership with Rainbow Housing, we are proud to also offer a wide variety of programs and resources. By pairing stable, quality housing with education, we are able to have an even greater positive impact on the lives of our residents and the surrounding community.”
To date, Vitus has provided homes for more than 25,000 residents in 23 states.
