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Dawson House

Sponsor: REO, LLC

Type of QALICB: Housing for Homeless Veterans


City and State: New Orleans, Louisiana

Contact Person: Steven Kennedy

Contact Email: [email protected]

Allocation Amount Requested: $7,000,000

Brief Description of QALICB:

Dawson House is a mixed-use project with a focus on ending homelessness for veterans here in New Orleans. The Obama Administration has placed a focus on ending homelessness for veterans and several mayors of various cities has signed on to this pledge, including Mayor Landrieu of New Orleans. This project is a 33 unit development with retail space on the lower floor. Total building area is 47,214 square feet, the property is also zoned as medium mixed use as designated by the city of New Orleans Comprehensive Zoning Ordinance. Dawson House will be located on the Lafitte Greenway which is a new linear park being constructed by the city of New Orleans. Dawson House is also located near public transportation, a grocery store and the new medical complex being built in Mid-City New Orleans which is a approximately 6 blocks away. This project is important to creating vibrant and sustainable communities, and continue the investment in the project area. Investments in the project area has totaled over $3 billion dollars.

But For Statement:

This project wouldn't be able to be finance but for NMTC being that the lower rents expected from the homeless veterans subsidies we expect to receive won't make this project feasible if not for low debt financing or equity provided by the NMTCs.

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