Construction of the $43 million project was funded through a partnership with the U.S. Department of Housing and Urban Development, JP Morgan Chase, the Louisiana Housing Finance Agency, the City of New Orleans and the Major League Baseball Players Trust. The Terraces on Tulane was financed with Gulf Opportunity Zone (Go Zone) Low Income Housing Tax Credits and is one of a small number of communities funded by the program that have finished construction and opened to residents.
A grand opening celebration occured Friday, March 26 at 1:30 p.m. Guests in attendance included: Volunteers of America National President Charles W. Gould; Volunteers of America Greater New Orleans CEO Jim LeBlanc; U.S. Department of Housing and Urban Development Deputy Assistant Secretary for Multifamily Housing Programs Carol Galante; Louisiana Housing Finance Agency Executive Director Milton Bailey; National Affordable Housing Trust President Jim Bowman; Louisiana State Rep. Walker Hines; New Orleans City Council member Stacy Head; and former Major League Baseball Players Association Executive Director Don Fehr. Several dozen residents of The Terraces on Tulane were also in attendance. Learn more about this exciting Grand Opening.