Housing & Community Redevelopment
The city provided federal funding and other creative incentives
for important private sector projects like the $66 million Saulet Apartments
and HRI's $60 million redevelopment of the American Can Company. Local banks invested more
than $50 million in distressed communities. From 1994-2002, through HOPE VI Initiatives at
St. Thomas and Desire, the City of New Orleans has received more than $700 million in
commitments from a combination of federal grants and private sector investment.
Assessed property value rose more than 10% since 1998,
achieving the nation's 5th highest increase in home value according to the National
Association of Realtors. From 1994-2002, the city issued more than 20,000 renovation
permits and nearly 4,000 permits for new construction.
We developed major public facility projects such as the James
Singleton Charter Middle School, Mt. Zion Multi-Purpose Building,
Kingsley House Community Center's Annex, Urban League of New Orleans' Headquarter,
Multi-Service Center for the Homeless, Alexander P. Tureaud Park. A number of
NORD Swimming Pools, Recreation Centers and Playgrounds were restored, such as Gerttown,
Fischer and the Lion's Recreation Center on Louisiana Avenue.
More than $19 million in Community Development Block Grant funds were
dedicated in the effort to repair our city streets.
The city's Housing and Neighbor-hood Development
Division initiatives provided new home construction jobs in New Orleans' most
challenging neighborhoods such as Rivers Frederick Square, Delores Francois Homes,
Delta Oaks Homes, Magnolia Oaks, Tasha Place, and the AFL-CIO/ Freddie
Mac's "At Home in New Orleans" project.
Two thousand five hundred affordable rental units were
developed with the renovation of Windsor Village, Magnolia Gardens, Magnolia Oaks,
Holly Park, Congress Square, Cabbage Alley, 1st Emanuel Homes, Filmore Parc Apartments,
Putnam Plaza, Armant Plaza and others.
In partnership with the Louisiana Housing Finance
Authority, $5.8 million in historic and low-income tax credits were creatively
used by public/private joint ventures on affordable rental projects by First Bank
and Trust, St. James AME, Loyola Landmark, Olympus Apartments and others. These
projects have resulted in millions of dollars of previously untapped resources being used
by the local lending community.
|
