On Tuesday, October 26, the City of Port Arthur will take a long anticipated and momentous step on its path toward creating the livable and vibrant downtown envisioned in the city’s 2015 Downtown Revitalization Plan. Ground will be broken for Renaissance at Lakeshore, a 108-unit multifamily apartment complex on Lakeshore Drive, developed by the National Development Council (NDC) in partnership with Port Arthur’s Legacy Community Development Corporation.
The $21 million dollar project is being built on land acquired from the Port Arthur Economic Development Corporation (PAEDC) and financed with $18 million in Harvey disaster relief funds granted by the General Land Office. In addition, J.P. Morgan Chase is providing a bridge loan to complete the financing, according to Stephanie Dugan, NDC’s Development Director.
The revitalization plan centers on returning downtown to its historic role as a vibrant destination for investment, housing, working and playing within Port Arthur. Renaissance is the first step in creating the residential communities necessary to fulfill that vision. It will offer workforce housing opportunities with one- and two-bedroom garden-style units and two-bedroom town homes. Community space in the development will add to the area’s resources for social, educational, recreational and cultural activities. Project design is by Hadden+Cowan architects, in partnership with Merriman Pitt/Anderson Architects.
NDC, founded in 1969, focuses its work on homes, jobs and community development throughout the country. For more than 15 years it has worked with the City or Port Arthur and PAEDC, providing planning and development advice, capacity building, small business lending and project financing to the city. A notable recent project was the financing of the Port Arthur Savings Bank, using its New Markets Tax Credit allocation. Daniel Marsh, III, President of NDC said “We are honored to partner with the city, the PAEDC, and Legacy in their progress toward a livable and economically vibrant downtown.”
George Davis, Interim CEO of the Port Arthur Economic Development Corporation said “This project is a linchpin in our progress toward the downtown revitalization goals. We look forward to its completion and the strengthening of our downtown residential community.”
Legacy Community Development Corporation helps families achieve stability and self-sufficiency through housing opportunities, education, and other supportive services. Vivian Ballou, Executive Director with Legacy Community Development Corporation, the project co-developer said, “This project will enhance the downtown revitalization plan and support Legacy CDC’s home ownership program in Port Arthur.”