More often than not, a company from across the country is buying up a large swatch of affordable housing, largely for elderly and disabled community members, which would be cause for concern. When it comes to the Christopher Home properties, however, which house 1,600 elderly and disabled residents of the 14 complexes across the Greater New Orleans area, the context might imply the lesser of two evils.
In a $152 Million sale that closed on March 21, the New York-based Tredway, one of the largest affordable housing developers in the country, finalized a deal to purchase the Christopher Home properties, allowing its residents to stay in their homes, from the floundering Archdiocese of New Orleans who are themselves in the throes of a bankruptcy settlement brought last year by the survivors of sexual abuse by clergy. With a New Orleans-based managerial service, Providence Community Housing, working to upkeep the properties throughout the proposed renovations, hopes are high that the residents of these complexes, which run under a “project-based” Section 8 program by the U.S. Department of Housing and Urban Development, might ultimately become beneficiaries of this high-dollar sale.
“Christopher Homes represents an important opportunity to keep a vulnerable aging population safely in their homes and in their community, with a major investment in critical housing infrastructure that will help residents age in place with the dignity and respect they deserve,” said Will Blodgett, CEO of Tredway in a press release announcing the sale closing. “From apartment upgrades and improved community spaces to on-site service coordinators to ensure residents have access to the programs and resources they need, we are approaching this portfolio with a deep dedication to serving the needs of our community holistically.”
Having been alerted to the impending sale in September, residents of the affected properties, including Wynnhoven I and II on the West Bank, the Apartments at Mater Dolorosa Uptown, and the Christopher Inn on Frenchmen Street, have been promised a wide swath of improvements and enhancements to their homes without any requirement of being moved during renovations. Proposed improvements by Tredway include updating any degradation of the buildings, enhancing energy efficiency, and installing lighting and handrails for the benefit of an aging populace. On the healthcare front, Tredway has announced the desire to provide “robust on-site resident services program designed to support seniors aging in place”, including access to public benefits and transportation, on-site health and wellness programs, including fitness classes, and vaccine clinics to help create an enriching environment for their residents. Other modernizations, such as covering the cost of cable and WiFi for residents, along with the promise of free meals, seem to indicate an improved quality of life all around. While Providence Community Housing was also entrusted with managing these properties in the waning days of the Archdiocese bankruptcy proceedings, Tredway has elected to retain their services for the foreseeable future, according to the press release announcing the sale, “ensuring a smooth transition and helping to guide the expansion of nutritional, healthcare, and social service programming”.
“We are proud to play a role in the preservation of affordable senior housing in our community as we partner with Tredway on these 12 properties,” says Providence Community Housing in response to the announcement. “Providence will continue to oversee property management operations with a primary focus on connecting our residents with the services and resources to help them thrive!”
