In his 2016 State of the City, New Orleans Mayor Mitchell J. Landrieu unveiled an ambitious 5 year affordable housing plan which calls for the development and preservation of 7500 affordable housing units, supports mixed income developments and commits $17 million per year in resources to support the plan.
In coordination with the Mayor’s announcement, the New Orleans Redevelopment Authority released its Housing Resiliency Strategy which contains an in depth analysis of the current rental market in New Orleans and a blueprint for a strategy to encourage the development badly needed of affordable housing.
On the same day, the Mayor participated in the ground breaking for the innovative affordable housing development in Gentilly which will provide affordable housing and services to returning wounded veterans and their families. This unique housing initiative is being developed by Bastion and Renaissance Property Group. Jones Walker LLP was proud to represent the development team and assisted with securing funding for the project.
The Mayor’s plan will be another success story for the City of New Orleans and Jones Walker looks forward to being part of implementing this initiative.