CHOICE NEIGHBORHOOD HOUSING OVERVIEW

Overview
The Shreveport Choice Neighborhood Housing Strategy is comprised of five initial phases, roughly including 400
units of sustainable, mixed-income, mixed-use, and multigenerational housing, as well as an estimated 10,000
square feet of ground floor retail space. This effort focuses on several key components

• Redeveloping vacant lots in Ledbetter Heights into a vibrant mixed-use community, to be known as Bayou
Grande
• Replacing 220 units for former residents of Naomi Jackson Heights, while also offering market-rate and
workforce housing options
• Offering the best location to our residents, where they can access jobs, transit, and downtown amenities
• Providing modern, state-of-the art residential units and amenities for residents of all incomes
• Designing Bayou Grande phases to ensure neighborhood cohesion, crime prevention, marketability, and
overall livability for residents
• Promote job opportunities for low-income residents and woman and minority-owned businesses through
the implementation of this strategy

Of the $24. 2 million Choice Neighborhood Implementation Grant from HUD, $15.4 million is set aside to help
support in the implementation of this strategy. This federal funding is expected to leverage more than $63 million
in support from private and other public sources and will lead to full investments of over $78 million. Two
additional phases are currently being contemplated. All phases, with the exception of Phase II are being developed
by the Housing Authority of the City of Shreveport (HACS). ITEX Development has partnered with HACS as a
development partner to support the development of Phases III-V.

Phases I and II
Phase I and II of the Housing Strategy were constructed as a result of the Choice Neighborhood Transformation
Plan, but prior to the award of the Choice Neighborhood Implementation Grant. Phase I is the Renaissance of
Allendale, a 40-unit mixed-income development built on the site of the former Naomi Jackson Heights public
housing community in 2015. Phase II is Cora Allen Townhomes, a 12-unit development built in 2016, which serves
residents below 80% of AMI who suffer from severe mental health or chemical dependency challenges.

Phase III
Phase III (final name pending) will be the first grant-funded housing phase and the first phase of the Bayou Grande
community. It will consist of 68-units in two three-story building and will provide a healthy mix of one, two and
three-bedroom rental housing units.

LIHTC/PBV LIHTC Only Market Total

1 Bedroom 12 4 4 20
2 Bedroom 17 7 4 28
3 Bedroom 12 6 2 20

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 Total 41 17 10 68

The phase will be located on city-owned land in the block made up by Caddo, Douglas, Fannin, and Baker streets,
directly adjacent to Phases II, IV, and Va. Phase III is fully funded, using funds from the Choice Implementation
Grant, a first mortgage, equity from competitive 9% Low-Income Housing Tax Credits, and deferred developer fee.
Construction is set to begin in early 2020, with completion targeted for 2021.

Phase IV
Phase IV (final name pending) was designed to be identical to Phase III in design, unit count and mix, and
amenities. The site will be located on city-owned land in the block made up by Caddo, Baker, Fannin, and North
streets, directly adjacent to Phases III and Vb. Phase IV is also fully funded and shares the same sources as Phase
III. Like Phase III, Phase IV will also have a 12-month construction schedule, with completion targeted for 2021.

Phase V
Phase V (final name pending) will be the third housing phase in the Bayou Grande community. This phase will be
comprised of 122-units in two three-to-four story buildings, with one of the two buildings supporting up to 10,000
square feet for ground floor retail and a HUD EnVision Center. The site will also include a healthy mix of one, two,
and three-bedroom rental housing units.

LIHTC/PBV LIHTC Only Market Total

1 Bedroom 25 8 17 50
2 Bedroom 26 10 18 54
3 Bedroom 7 4 7 18
Total 58 22 42 122
The project’s two buildings will be non-contiguous, with Phase Va being located on city-owned property at the
intersection of Caddo and Common streets and Phase Vb being located on city-owned property located at the
intersection of Caddo and North streets. Phase Va is intended to be a beacon development that will serve as a
gateway into the Bayou Grande community. Both portions of Phase V are fully funded and will be financed in a
single transaction utilizing funds from the Choice Implementation Grant, a first mortgage, equity from 4% Low-
Income Housing Tax Credits, tax-exempt bonds, HOME funds, state-issued Community Development Block Grant
funds, and deferred developer fee. This phase is anticipated to close in 2020, with completion in 2021.

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Phases Mapped:

*The above map does not include potential future phases or Phase I, the Renaissance at Allendale.