NEW ORLEANS — On Jan. 22, New Orleans Area Habitat for Humanity leaders and supporters gathered for the ground breaking of Rising Oaks, a 150-home affordable housing community that will fill the 44-acre site of the former Plantation Golf & Country Club on Behrman Highway in Terrytown, La.
Habitat has built 750 homes in its four-decade existence, but it has never undertaken a project of this scale. Jefferson Parish has committed $5 million to get the project to this stage, and the nonprofit expects the final price tag to hit $56 million.
It’s a “wild-ass idea,” in the words of the nonprofit’s Executive Director Marguerite Oestreicher, that has captured the imagination — and support — of area housing advocates, business leaders and elected officials.
Habitat expects to cover about 60% of the project’s cost from public sources and the rest will come from donations. A capital campaign is underway, and, barring any major obstacles, the entire project could be complete in five years. A favorable purchase price of $3 million for the entire property has helped keep costs down.
Here are more of the week’s top business stories:
- Port NOLA Receives $226M Grant for Louisiana International Terminal
- Port NOLA Hires Global Firm to Develop Plans for New Roadway in St. Bernard
- Louisiana Public Service Commission Votes for Independent Energy Efficiency Program
- Bywater American Bistro Reopens as BABs
- LCMC Health Moves Tulane Staff and Patients to EJGH
- Community Coffee Announces New President and CEO
- Rubenstein Hotel Open in Time for Carnival Season
- Mae’s Bakeshop Opens Jan. 27 on Baronne Street
- New Orleanians Among 2024 James Beard Awards Semifinalists
- Chris Abadie Named St. Tammany Chamber Chairman
- Partners Hope to Create Affordable and Climate-Resilient Housing Solutions
