NEW ORLEANS, July 27, 2011 (GLOBE NEWSWIRE) -- Representatives from the Dr. Murphy W. McCaleb Educational Fund, Inc. (McCaleb Fund) and Gulf Coast Housing Partnership (GCHP) broke ground today on the McCaleb Supportive Housing project, a new, three-story, 48,535-square-foot supportive housing development in New Orleans, Louisiana.
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Present at the event were representatives from Whitney Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas), which awarded a $301,000 Affordable Housing Program (AHP) grant to GCHP for the construction of the supportive housing development.
"The support we are receiving from FHLB Dallas and Whitney Bank will make a difference, not only in the project, but in the lives of the people who will be residents at McCaleb Supportive Housing," said the Rev. Willie Gable, executive director of the McCaleb Fund and pastor of Progressive Baptist Church. "Our purpose is to provide affordable housing to individuals who would not necessarily receive it, so they will have a place to call home."
McCaleb Supportive Housing is a multifamily, rental housing development planned for New Orleans's Central City neighborhood. The affordable housing development will contain 43 one-bedroom, one-bath apartments to serve very low-income and homeless residents, as well as provide supportive services such as case management, referrals for health care and mental health services, and life skills training.
The project will be built to the sustainability and energy efficiency standards set forth by Enterprise Green Communities, including Energy Star lighting, appliances, windows, and HVAC units, which will result in lower utility bills for residents. In addition, the project will use sealants and paints with lower levels of toxicity, and flooring made of sustainable materials. The building design will also incorporate storm-resistant features.
GCHP, the developer on the project, partnered with the McCaleb Fund, which will provide the supportive services to the residents of McCaleb Supportive Housing.
According to Victoria Welch, project manager for GCHP, the idea for McCaleb Supportive Housing was created out of a need for more affordable housing in the aftermath of Hurricane Katrina.
GCHP will use the AHP grant toward construction costs. GCHP worked with Whitney Bank to apply for the AHP grant.
"Whitney has always been really good to us," Ms. Welch said. "They've been construction lenders on other projects for us, so we've have a good relationship with them."
More than $1.9 million in AHP grants was awarded through Whitney Bank in 2010 to support affordable housing projects in Louisiana and Mississippi.
"The development of McCaleb Supportive Housing will not only provide much-needed affordable housing, but also continues GCHP's mission of revitalization through transformative development," said Sunada Pool Brookins, vice president and community affairs officer for Whitney Bank. "Whitney Bank is proud to partner with FHLB Dallas and GCHP to invest in such a worthwhile community project."
The project is expected to be completed within the next 10 months.
AHP grants are awarded through FHLB Dallas member financial institutions, such as Whitney National Bank, to assist in the development of affordable owner-occupied and rental housing for very low- to moderate-income households.
In 2010, FHLB Dallas awarded $18.5 million in AHP grants through its member institutions to 79 housing projects, which will help create or renovate 2,632 housing units across FHLB Dallas's five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. Of the $18.5 million awarded, more than $2.2 million was allocated to projects in Louisiana, which will support 284 housing units within the state.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $33.2 billion as of March 31, 2011, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit the FHLB Dallas website at fhlb.com.
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The photo is also available via AP PhotoExpress.
