Home » Our Work » Real Estate Development & Public Finance » GAP Financing – Affordable Housing

GAP Financing – Affordable Housing

The Gap Finance for Affordable Housing Program (“Gap-A”) was designed to provide gap funding for mixed-income housing development projects. Gap-A are reimbursement funds intended to fill a potential void between traditional loan funds from a senior lender, developer equity, tax credits and other non-traditional funding sources. Gap-A has provided permanent mortgage funds for the repair and renovation of existing rental properties as well as acquisition and development of new residential rental properties within identified target areas. All Gap-A funding has been allocated to projects. Please check back soon for an update on funding availability.

Autumn Place
5656 McClelland Drive

Willow Creek
5876 Quida Mae Drive

One Stop
153 North 17th Street

Hooper Springs
5150 Hooper Road

Elysian I & II
1120 Spanish Town Road

Wesley Chapel
10008 Avenue L

Elm Street Apartments
4250 Elm Drive

Cypress Springs
5150 Hooper Road

Renaissance Gateway
650 North Ardenwood Drive
(formerly Ardenwood Apartments)

Elysian I & II

1120 Spanish Road Baton Rouge, LA 70802

Elysian I Completed 2014, Elysian II Completed Spring 2019

The Elysian is a mixed-income apartment community that opened in 2014 and is located at 1120 Spanish Town Road. The property has four stories and 50 units totaling 111,500 square feet. It was developed by Gulf Coast Housing Partnership at a cost of $15.5 million. The Elysian II added 100 units to the community and cost $17.9 million.

BBR Role
BBR contributed $800,000 in Community Development Block Grant Funds

View the Elysian Website