Ouachita Grand Plaza

501 S Grand St , Monroe, Louisiana 71201

Ouachita Grand Plaza is the ideal community for frail elderly persons needing some assistance yet able to live independently. The oversized hallways are perfect for personal transport vehicles such as motorized wheelchairs and scooters. There are 91 affordable residences available to qualifying seniors, and handicap units are available.

Each residence is equipped with energy-efficient kitchen appliances including range/oven and refrigerator/freezer. Other features include central heat and air, window privacy blinds, smoke detectors, and emergency pull cords in bedroom and bath. Water and trash service are included. Required utilities to be paid by resident are: Electric.

Flat and Income based rents are available.

Pet Policy

Pets are allowed with deposit (some restrictions apply).

Unit (Bd/Ba)	Ft²	Rent
1 Bedroom (1/1)	-	Call for Price

Eligibility for Ouachita Grand Plaza

Ouachita Grand Plaza Details

91 one bedroom units.
Low-Income Housing Tax Credit (LIHTC)
Section 202 Supportive Housing for the Elderly
FHA Mortgage Insurance/subsidy
Section 221 (d) (3)

Property Amenities

Emergency Pull Cord

Unit Amenities

Trash Included
Water Included
Central Heat & Air
Energy Efficient Appliances

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Section 202 Supportive Housing for the Elderly

Since this property was built or renovated using funding from HUD's Section 202 Supportive Housing for the Elderly program, residency is usually restricted to households earning 50% of the Area Median Income (AMI) or less with at least one member age 62 years or older. Tenants pay rent based on household income. This rent is usually the highest of the following three amounts: either 30% adjusted monthly income, or 10% unadjusted monthly income, or, if receiving welfare assistance, the housing costs portion of this assistance.