New Orleans, LA — The Louisiana Housing Corporation (LHC) celebrates the groundbreaking of Celeste Landing, alongside partners, which will provide affordable rental apartments in the New Orleans Lower Garden District.
Celeste Landing will provide 46 units, and will strictly be for households earning up to 60% of the Area Median Income (AMI). The project will primarily be new construction, although developers are partaking in historic rehabilitation as well, as the existing building on Religious Street is a 3-story brick building that is designated as a historic landmark.
LHC awarded $1,438,751 through Low Income Housing Tax Credits (LIHTC), which is estimated to provide $13,235,185 in equity proceeds. The project also qualifies as a Choice Neighborhood Initiative (CNI) project. "We are glad to finally see progress start for Celeste Landing," said LHC Chief of Multifamily Production Louis Russell. "The unit will offer families affordable housing options, choosing between one-bedroom or two-bedroom units. It is centrally located, close to jobs, services, and transportation that is ideal for any type of multifamily housing."
Renaissance Neighborhood Development Corporation, a subsidiary of Volunteers of America Southeast Louisiana committed to providing referral and services at no cost to residents, in support of special needs set aside 30% of the total for households targeted to a single parent, a large family, a foster parent, those who are elderly or disabled, homeless, veterans, or a household of domestic violence.
"RNDC a subsidiary of Volunteers of America Southeast Louisiana and Atrium Housing have joined forces to bring Celeste Landing, a new apartment community, to life," said Executive Director of RNDC Vanessa Levine. "We are proud to share that Celeste Landing will build on the strength of this historic neighborhood by not only enhancing the appearance of the block it sits on, but it will also provide an affordable, healthy, and convenient place to call home for 46 households in New Orleans. We not only invest and serve the community, but we are a part of the community, and are breaking ground with the support of Mayor LaToya Cantrell, Council Member Lesli Harris and all our financial and development partners who helped bring this vision to life.”
Developers of Celeste Landing are Atrium Housing and Cobalt Construction. Architecture done by Holly & Smith.
For More Information, visit: Atrium Housing
Email: info@atriumhousing.org
Breanne Bizette
Public Information Officer, Louisiana Housing Corporation
