Real estate lender Greystone said Monday it has provided a $30.6 million loan that will finance the construction of Manchac Lake Apartments, a 272-unit complex in Prairieville.
The loan to Noland McKay Manchac Limited Partnership is insured by the Federal Housing Association.
Manchac Lake is one of the first large apartment complexes the parish has permitted in the last decade. The complex includes 132 one-bedroom units, 128 two-bedroom units and 12 three-bedroom units. The complex also will feature a detached garage, clubhouse, pool and business center.