Local officials and a New Orleans-based real estate company announced on Wednesday plans for WoodRing Apartments, a 130-unit mixed income housing development in downtown Lake Charles.

The $35 million project, located on the 600 block of Bilbo Street, will provide more affordable and sustainable housing, an issue the city has continued to deal with since Hurricane Laura’s Category 4 landfall in August 2020. The first phase, which includes 70 units, is set to break ground by the end of this year, with construction taking 14 months.

Tom Leonard, CEO of HRI Properties, said the project is being funded by a combination of low income housing tax credits awarded by the Louisiana Housing Corporation, Community Development Block Grant-Disaster Recovery funds administered by the state, and private dollars. He said this allows for a higher quality development that will offer much needed housing in the area.

“We’ve been looking to do a project in the city and just haven’t found the right opportunity,” he said. “This will allow people to live here and experience downtown and be part of the renaissance of downtown Lake Charles.”

Rent for a one-bedroom apartment could cost roughly $600 per month, Leonard said.

“That’s the beauty of the (tax) credits,” he said. “They make it affordable and a nice place to live.”

Mayor Nic Hunter said the development will benefit north and east Lake Charles, along with the downtown district. He said the city had an affordable housing issue before Hurricane Laura. WoodRing Apartments won’t solve the existing housing shortage, but it will make a dent in the issue.

“Our internal estimates are that by the end of this year, the city will have back online 90 to 95 percent of the housing we had pre-Laura,” Hunter said. “That is huge. That is without even the billion dollars in federal aid that has hit the streets yet.”

Every year, the Louisiana Housing Corporation puts together a qualified allocation plan, which dictates the requirements for these tax credits. Hunter said several local projects, including WoodRing Apartments, were awarded these tax credits.

District A City Councilman Ronnie Harvey Jr. said the housing project will be a major benefit for the city and the district. Harvey was sworn in as councilman for the district at Wednesday’s council meeting.

“What a way to come in on day one,” he said. “I feel like a very lucky person with such an amazing project.”

Leonard said the project’s site plan seeks to preserve some of the older, large oak trees on the property. A small park will be located on the southeastern corner of the development near the corner of Division and Hodges streets. Environmental remediation work will also be done on the site.

Amenities include off-street parking, a fitness center and a community garden.