Providence Community Housing and VPG Holdings have partnered to bring 51 units to the Faubourg lafitte neighborhood as Lafitte Phase VII. The redevelopment of Building C-47 on the footprint of the former Lafitte public housing site will include six one-bedroom units on the upper floors, and the bottom floor property management office for the entire Faubourg Lafitte development. The vacant, onsite block will include 45 units, with a mix of two-, three-, and four-bedroom units within 35 single family houses and five duplexes. The project will utilize both Federal and State Historic Tax Credits and has secured a 4% Low Income Housing Tax Credit allocation from the Louisiana Housing Corporation. Other funding for the project includes a construction loan from Home Bank, city of New Orleans funds, HANO funding, HANO Project Base Section 8 vouchers, and Finance New Orleans Payment-In-Lieu-of-Taxes (PILOT). Enterprise Community Investments will syndicate the tax credits.
