Originally built as Muller's Deparment store in 1913, Erdace transformed this building into a mixed use development in the historic district of Lake Charles, Louisiana.
The Masonic Home for Children, which was built in 1924, has been renovated
to include upscale loft style apartments while preserving the history of this
ERDACE has developed a unique understanding of how to leverage the available market finance sources in forming and executing a project with excellence, while maximizing project returns for stakeholders. This experience covers conventional lending, HUD Section 221(d)(4) guaranteed programs of market rate products, enterprise zone grants/financing and the use of Historic Tax Credits to enable and enhance property and project finance.
ERDACE prefers to participate in an ownership role in the multi-family projects it develops, as well as the intangible companies (tax-credit purchases) that are associated with these properties. The company also owns undeveloped land in Louisiana ready for production.