Providence Announces Redevelopment of Historic Our Lady of Lourdes School & Gymnatorium
Providence Community Housing (PCH) has announced that it will redevelop the former school footprint on the Our Lady of Lourdes campus, located at 2428 Napoleon Avenue. Working with Trapolin-Peer Architects, the comprehensive historic renovation and adaptive reuse of the school building and gymnatorium, along with the addition of new construction, will create 62 studio and one-bedroom rental units to support seniors 62 years and older.
“At the invitation of the parishioners of Blessed Trinity Catholic and the community, Providence will help fill the critical need for affordable housing in this vibrant neighborhood,” said Terri North, President and CEO of Providence Community Housing. “The property is ideally situated along the Freret Street corridor with access to transportation, groceries, healthcare, and other quality of life amenities suited to seniors. Providence is proud to transform this viable property, that has sat dormant for far too long, into homes designed for seniors and their unique needs.”
All 62 units in the project will be supported by a Project Based Section 8 or Permanent Supportive Housing Voucher set aside for qualifying-seniors earning at or below 50% of AMI, with some units reserved at lower incomes. Residents will pay rent on a sliding scale equal to 30% of their income.
Providence is working with the Finance Authority of New Orleans (FANO) to secure 4% Low Income Housing Tax Credits, tax exempt bonds, and a Payment In Lieu Of Taxes for the project as well as area philanthropists to secure gap funding. The project will utilize both Federal and State Historic Tax Credits and a HUD 221(d)(4) loan from Bellwether Enterprise to provide long term debt under a non-recourse structure.
Christopher Homes, Inc. will provide property management services once the property is operational. Resident service coordination will also be available throughout the life of the project.
Providence anticipates approximately eight months for predevelopment, allowing time to competitively select a contractor, finish construction documents, and prepare environmental reviews, with a potential closing and start of construction in the first quarter of 2022. Construction is anticipated to last approximately 13 months, with apartments becoming available for qualified seniors in early 2023. Minority and local contracting with local hiring opportunities will be prioritized.
The adjacent Church and Rectory are owned by a separate entity and are not associated with the Providence redevelopment project.
To learn more about the Our Lady of Lourdes Apartments project www.ourladyoflourdesapartments.com or email ourladyoflourdes@providencech.org.
