(Read more on the multifamily market.)
NEW ORLEANS-New Orleans City Council has approved a $300-millionredevelopment of the historic Treme neighborhood. The door is nowopen for the demolition of the 894-unit Lafitte public housingproject and replacing it with 1,500 apartments and single-familyhomes.
Providence Community Housing, a local nonprofit developerfounded by a coalition of faith-based groups in the aftermath ofHurricane Katrina, and Enterprise Community Partners, a privatecompany from Columbia, MD that provides capital and resources forcommunity development, are heading up the redevelopment.Construction is expected to begin in the spring.
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