HOPE used New Market Tax Credits to transform a back nine into new beginnings.
HOPE partnered with New Orleans Area Habitat for Humanity to help transform a 40-acre site that was previously part of a golf course into Rising Oaks, a mixed-use community and model for affordable urban development.
Rising Oaks will include 150 attractive single-family homes and dedicated senior housing. Every home will be built to FORTIFIED Gold™ certified standards for hurricane protection, not only enhancing safety and durability, but also lowering insurance costs.
The thoughtfully planned community also features community gathering venues, walking trails, and easy access to major employers, public transportation, healthcare facilities, and shopping. The layout preserves many of the original golf course’s existing green spaces, connecting residents and guests with nature
in the heart of an urban area.
HOPE provided $6.7 million in New Markets Tax Credits financing to support the development. As with all Habitat for Humanity projects, residents will invest sweat equity in the construction of their new homes.
Rising Oaks showcases what’s possible when partners share a vision of affordable homeownership and intentional, community-centered design.