Archive for the ‘News Articles’ Category

Development Begins on Second Phase of Farmworker Community

Monday, January 19th, 2015

January 19, Arcadia, FL – National Development announces the development of Casa San Juan Bosco II, a 44 single-family farmworker community in Arcadia, Florida.  This second phase, along with the current first phase, will provide 97 units of safe, decent housing to farmworkers in Desoto County.  The project owner, Casa San Juan Bosco II, Inc., has been awarded funding in the amount of $2,000,000 from USDA-RD  and $6,510,000 from Florida Housing Finance Corporation for the construction of this second phase.  National anticipates a May, 2015 construction start with occupancy to begin in the second quarter of 2016.

Housing Authority Contracts

Monday, January 19th, 2015

January 19, 2015, Fort Myers, FL – National Development and its development partner, Housing Solutions Alliance, have been awarded two new development services contracts.  In August, 2014, the Kenner Housing Authority, under the direction of Richard Murray, chose National Development of America and Housing Solutions Alliance, LLC, a joint venture, as its development partner.   On October 9, 2014, the Housing Authority executed a five-year Master Development Agreement with NDA and HSA.

In November, 2014, the St. James Parish Housing Authority, under the direction of Dana Groover, chose NDA-HSA Convent, LLC as its development partner.   A five-year Master Development Agreement between the Housing Authority and NDC-HSA Convent was executed on November 19, 2014.

NDA-HSA will pursue financing for future development for both Housing Authorities.

Construction Underway in Baton Rouge

Monday, January 19th, 2015

January 19, 2015, Baton Rouge, LA – National Development announces the construction of two new projects in Baton Rouge, Louisiana.  Roosevelt Terrace, located at 1255 West Roosevelt Street, is a rehabilitation project consisting of 40 apartment units.  The project, owned by the East Baton Rouge Parish Housing Authority, is being developed by NDA-HSA ROS, LLC.  Remediation and rehabilitation of Roosevelt Terrace is being provided by Brooks-NDB  Joint Venture, LLC, a partnership between Brooks & Freund, LLC and National Development Builders, Inc.

Burberry Estates, located at 1700 Burberry Court is a new construction project consisting of 35 single family homes.  This project is being constructed for a private owner with National Development providing construction oversight services.  Construction services are being provided by Brooks-NDB Joint Venture, LLC.

Each project was awarded tax credits through the Louisiana Housing Corporation with additional funding being provided by the U.S. Department of Housing and Urban Development, Hudson Housing Capital, LLC, Capital One  Bank and the Affordable Housing Program through the Federal Home Loan Bank.

NDC Real Estate Management, Inc. will provide management services for Roosevelt Terrace upon completion.

 

New Projects to Begin Soon

Monday, January 19th, 2015

January 19, 2015, Baton Rouge and Lake Charles, LA – National Development along with its development partner, Housing Solutions Alliance, has been awarded tax credits for two new projects – River South located in Baton Rouge and High School Park located in Lake Charles.  Planning, financing and permitting for both projects is underway with loan closings set for late summer to early fall, 2015 with construction to start immediately thereafter.

River South is a scattered-site development consisting of 46 single family and duplex units being constructed on 31 fully-developed lots owned by the East Baton Rouge Parish Housing Authority.  High School Park is also a scattered-site development consisting of 50 duplex units and will replace a current public housing project owned by the Lake Charles Housing Authority.  Both will be mixed-income projects that will include market rate and project-based rental units.

The general contractor for River South and High School Park is Brooks-NDC Joint Venture.  Services will include new construction at River South and demolition and new construction at High School Park.  NDC Real Estate Management, Inc. will provide management services upon completion of each project.

 

 

Rufus Mayfield Homes

Monday, January 19th, 2015

January 19, 2015, Lake Charles, LA – National Development announces the completion of Rufus Mayfield Homes (formerly Booker T. Washington).  Located in Lake Charles, Louisiana, Rufus Mayfield is a 46-unit duplex community developed by NDA-CRHD I Lake Charles, LLC and owned by the Lake Charles Housing Authority.  Construction was provided in partnership by National Development Builders, Inc. and Brooks & Freund, LLC, who have offices in Baton Rouge, Louisiana and Fort Myers, Florida. Under the management of NDC Real Estate Management, Inc., this affordable housing community currently enjoys a 100 percent occupancy.  Rufus Mayfield is the third Lake Charles Housing Authority project developed, constructed and managed this development team.

A Success Story…

Friday, March 12th, 2010

Fort Myers News-Press, Business Section, Friday, March 12, 2010.

 NDA Article