NEW ORLEANS (press release) – Tredway, a mission-driven real estate developer based in New York, announced its closing on the Christopher Homes portfolio. The portfolio comprises more than 1,600 affordable homes, exclusively occupied by elderly and disabled individuals, across 10 properties and five parishes in the greater New Orleans area. As part of the transaction, Tredway has ensured that the properties will maintain their funding from HUD, which subsidizes the rent for more than 98% of residents, and has further committed that 100% of the apartments will remain affordable to households earning 80 percent AMI or below for the next 40 years, underscoring Tredway’s commitment to preserving affordability for New Orleans’ most vulnerable population. Tredway will undertake an extensive renovation program across the properties in addition to developing a comprehensive resident services program designed to ensure the portfolio’s senior population can age in place with dignity and respect.
“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 release about the 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. We thank our partners at HUD, Louisiana Housing Corporation, Finance Authority of New Orleans and Jefferson Parish Economic Development Commission for their support of the Christopher Homes community.”
Tredway will deliver a slate of on-site services for residents, improving access to important programs and resources, especially for those with disabilities or who experience other barriers to receiving support. From meal preparation to health care services, this new suite of services is designed to meet the needs of this New Orleans community. Services will include:
- Robust on-site resident services program designed to support seniors aging in place
- Dedicated service coordination staff providing case management and resource linkage
- Access to healthcare navigation, transportation support, and public benefits (e.g., SNAP, Medicaid)
- On-site health and wellness programming, including screenings, fitness classes, and education
- Partnerships with healthcare providers, nutrition experts and local agencies to deliver services and food security directly to residents
- Regular programming including nutrition classes, vaccine clinics, and wellness initiatives
- Daily meal service provided to residents across the portfolio
Providence Community Housing will continue to serve as the property manager across the portfolio, ensuring a smooth transition and helping to guide the expansion of nutritional, healthcare, and social service programming.
