Vitus Acquires First Redevelopment Project in Louisiana

Vitus announced the preservation and renovation of the 140-unit La Playa Apartments (formerly known as Suburban Apartments) in Baton Rouge. The renovation is the company’s first project in Louisiana and includes large-scale improvements to an apartment complex 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, Vitus renewed a Section 8 Housing Assistance Payment contract and entered into an extended use agreement that guarantees the continued affordability of the property for 35 years. Renovation for the La Playa building is currently underway and scheduled to be completed by the end 2019. Vitus’s $16.5 million investment will cover numerous interior and exterior improvements such as full kitchen and bathroom remodels, new HVAC systems in all units, new roofs and windows, conversion of 7 units to be ADA complaint and a range of site repairs. In addition, the property will receive a new a community room, computer lab, community garden, outdoor walking path and picnic area. To honor Vitus’s 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 the Rainbow Housing Association Corporation to offer resident services that will benefit the children and families that live at La Playa. This partnership allows Vitus to provide educational programs for tenants that include: financial literacy, employment readiness, health and nutrition, computer training, crisis intervention, and parenting classes. Rainbow Housing will also use a referral form and call center to connect tenants to valuable resources like food and clothing assistance, crisis intervention, and online programs for General Education Development (GED) and English as a Second Language (ESL).