Rental units in New Iberia’s West End Subdivision are in the process of being converted into affordable owner-occupied homes, according to a team of developers out of Denver. 

The project, which was approved by the Louisiana Housing Corporation, aims to “transform home ownership while fostering community growth and stability,” according to a prepared statement.

West End Estates will feature 60 single-family residences available for purchase under the Holnes Home ownership plan. It includes three models tailored to accommodate various family sizes and financial situations. That includes a two-bedroom, two-bathroom model (priced at $80,000), a three-bedroom, two-bathroom model (priced at $95,000) and a four-bedroom, two-bathroom model (priced at $105,000). 

The aim of the homes is to ensure mortgage payments remain accessible to households at or below 80% of the area median income ($61,920 for Iberia Parish). 

Current tenants and other qualified buyers can transition into home ownership under Louisiana Housing Corporation guidelines, according to the statement. 

“Home ownership is a fundamental step toward financial independence and community development,” said Matt Guarino, one of the key founding developers of the project, in a prepared statement. “West End Estates is a testament to our commitment to making quality housing accessible and ensuring that every family has a place they can proudly call home.”