HUD Awards $12 Million to Providence for Upgrades to St. John Berchmans
The Department of Housing and Urban Development has awarded Providence Community Housing $12 million in federal funds for improvements to St. John Berchmans Manor. The investment will provide financial resources to fortify the property against storms, improve energy efficiency, and ensure that St. John Berchmans Manor can operate sustainably and resiliently for years to come. The award is part of $279 million in funding for climate-focused retrofits across the country.
Located in the heart of Gentilly, St. John Berchman is home to 150 senior residents who rely on affordable housing. The funds will be used to install energy-efficient windows and doors and new heating and cooling systems – updates critical to maintaining affordable housing for residents while reducing utility costs for property managers. Replacing roofs to meet the new fortified standard will lead to big savings on mounting insurance costs.
“Sizeable funding opportunities like these are rarely available,” said Terri North, President and CEO of Providence Community Housing. “Investments to address climate risks in affordable housing stock is critical for aging properties. We are grateful to HUD for the resources to make critical updates at St. John Berchmans Manor to ensure that it will operate sustainably and resiliently for the next 40 years .”
Providence has 20 affordable housing complexes that also need financial resources to make major system upgrades to improve resiliency and energy efficiency. As an affordable housing developer, Providence relies on federal tax credits that require a state approval process, or smaller amounts of federal dollars distributed by the city.
New Orleans City Council members have proposed a plan – the Housing Trust Fund (HTF)– to allocate millions in city funds annually to affordable housing programs including resources to improve resiliency and energy efficiency of existing housing. Voters will decide whether to approve the proposal on November 5.
The Housing Trust Fund ballot measure is not a new tax or millage. The Fund would provide gap financing to new affordable housing developments, preserve and rehabilitate affordable rental units, and support new affordable homeownership models and strategies like community land trusts and foreclosure prevention. The ballot measure allocates 2% of the city’s existing budget to a Housing Trust Fund to be used exclusively to preserve and expand the supply of affordable housing in New Orleans.
“This Housing Trust Fund helps everyone in our City by creating and preserving affordable housing and spurring economic growth,” said North. Voting ‘Yes’ for the New Orleans Housing Trust Fund means taking control of our city’s future and ensuring everyone has a place to call home.”
Learn more about the Housing Trust Fund at www.yestonolahousing.com.
