As New Orleans Rents Rise, Community Land Trust Creates 'Permanently Affordable' Apartments

A vacant building tucked away on Palmyra Street in Mid-City is being developed in what housing advocates say could be an answer to the rising cost of renting in New Orleans for generations to come.

The Jane Place Neighborhood Sustainability Initiative is a nonprofit focused on affordable housing in the small Mid-City community, previously known as Jane Alley, where Louis Armstrong grew up and just three blocks from the $2 billion hospital complex under construction. 

The group is renovating a four-plex at the corner of Palmyra Street and Jane Place for $1.2 million, using a model known as a community land trust to commit the apartments to low- and moderate-income families for the future.

Read the full article at The Times-Picayune

 

Go to the GEO front page