New Orleans, LA — The Louisiana Housing Corporation (LHC) joins housing partners to start construction on Faubourg Lafitte Phase VII, which will include 51 affordable housing units across a 2.75-acre area of the Faubourg Lafitte neighborhood.
Faubourg Lafitte Phase VII will feature newly constructed single-family and duplex homes, comprising a total of 45 units, including 35 single-family homes and five duplexes. Project developers will also redevelop the former historic Lafitte Public Housing Development, incorporating 6 one-bedroom units on the upper floors and dedicating the bottom floor as the property management office for the entire Faubourg Lafitte development.
Amenities include a neighborhood community center with a commercial kitchen, a computer lab, a playground, and a public outdoor park.
LHC awarded the project $1.2M through the 4% Low Income Housing Tax Credit Program (LIHTC). The estimated LIHTC equity proceeds include $9.8M, along with $1.2M in state historic tax credit and equity and $927,000 in federal historic tax credits and equity. "The revitalization of the Faubourg Lafitte is so important for families and the surrounding communities, and LHC is proud to be a supportive partner in funding these new affordable housing units," said LHC Executive Director Kevin Delahoussaye. "We also appreciate the private industry and affordable housing advocate partnerships that support this project. Collaboration is key for LHC, and working with dedicated partners helps us to achieve our mission to serve Louisiana residents."
The groundbreaking of Faubourg Lafitte Phase VII marks a huge milestone in the continued revitalization of this neighborhood. Providence Community Housing and VPG Holdings have spent over a decade transforming this area of New Orleans.
"When Providence Community Housing and Enterprise Community Partners began the redevelopment of the Faubourg Lafitte Community in 2008, we promised to rebuild this vibrant community so Lafitte residents could return home to their neighborhood,” said Terri North, CEO of Providence Community Housing. “We are proud to launch another new chapter for Faubourg Lafitte and its residents and honor the legacy of one of New Orleans’ most storied communities,” North added.
“Building strong communities is Providence’s mission,” said North. “Our city and region continue to face an extraordinary need for quality affordable housing to enhance the quality of life for families. The 51 additional homes in Faubourg Lafitte will make a meaningful difference to the community and for the families who will find a new place to call home in this thriving neighborhood."
As construction begins on the Faubourg Lafitte neighborhood, the architect will be MetroStudio. The builder and contractor will fall under RNDG. The management company for units will be HRI Management.
For more information, visit Providence Community Housing
