NEW ORLEANS – On March 27, BankPlus and national disaster recovery nonprofit SBP, along with the City of New Orleans and partners, celebrated the groundbreaking of St. Claude Gardens II, a 39-unit affordable housing development aimed at fostering resilient, inclusive and sustainable housing opportunities in the Lower 9th Ward. The event took place at 2407 Tennessee Street.
BankPlus is providing a $6 million commercial real estate loan to help finance the project, and it is also investing in credits through the Low-Income Housing Tax Credit Program that will provide an additional funding source. SBP is leading the project’s development and construction.
SBP plans to build St. Claude Gardens II using resilient-building techniques and materials, including metal framing, to fortify the homes against extreme weather conditions. Solar panels will help reduce energy costs and minimize the project’s carbon footprint.
St. Claude Gardens II will reserve units for mobility-impaired individuals, those eligible under Section 811, and other vulnerable residents.
When the homes are complete and families have moved in, an SBP resident service coordinator will serve as an educator, community builder, resident liaison and service facilitator.
