Sisters of the Holy Family and Local and National Partners Rebuild Housing for Seniors in New Orleans East

WHO: Sisters of the Holy Family, Providence Community Housing, Christopher Homes and Enterprise WHAT: Ground-breaking for Delille Inn Apartments, a 51 unit apartment

WHEN: Friday, May 23, 2008, at 10 a.m.

WHERE: The Delille Inn Courtyard, 6924 Chef Menteur Highway, New
Orleans
From I-10, take exit 240B/Chef Menteur Hwy/US-90 east to Chef
Menteur Hwy.

GUEST
SPEAKERS: Cynthia Willard-Lewis, New Orleans City Council, District E
Anthony Faciane, Director for Neighborhood Stabilization, City
of New Orleans
Wayne Woods, Chairman, Louisiana Housing Finance Agency
Greg Rattler, Senior Banker for Not for Profit Government
Banking Group, JPMorgan Chase Bank
James R. Kelly, President and Chief Executive Officer,
Providence Community Housing
Sister Eva Regina Martin, Sisters of the Holy Family
Aron Weisner, Development Officer, Enterprise

BACKGROUND:
Delille Inn was built in 1987 by the Sisters of the Holy Family, the
oldest female-led African-American organization in the United States.
Delille is a 51-unit, five-story elevator apartment building for seniors
in New Orleans, Louisiana, who earn 50 percent or less of area median
income. Delille Inn will be rehabilitated by Providence Community Housing.
Christopher Homes will provide property management and supportive
services, including meal, shuttle, health and other social services.
Located across the street from the Sisters of the Holy Family convent,
Delille will provide affordable housing for low-income local residents.

Financing for Delille Inn includes $4.7 million in Gulf Opportunity
(Go Zone) Low-Income Housing Tax Credit equity from Enterprise, a $2.4
million construction loan from JP Morgan Chase Bank and a $2 million
federally-insured permanent mortgage from the U.S. Department of Housing
and Urban Development (HUD) through Sims Mortgage Funding. Tax credits
were allocated by the Louisiana Housing Finance Agency (LHFA). The
redevelopment is also supported through a grant provided by the AIG
Disaster Relief Fund.

Media Contacts: Terri Bolling, 410.772.2449,
tbolling@enterprisecommunity.com
TeAnne Chennault, 213.833.7988, ext. 32
tchennault@enterprisecommunity.org
Andreanecia M. Morris, 504.821.7227
amorris@providencech.org

PRNewswire -- May 21, 2008

Source: Enterprise

2008-05-21 17:37:00 0368275 PRNEWSWIRE