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Palmetto Apartments

 

The Palmetto Apartments are a 124 unit multifamily property located in New Orleans, Louisiana.  Palmetto was acquired in 2004 utilizing $3.14 million in tax-exempt bonds, 1.8 million in low-income housing tax credits, a $1 million City of New Orleans loan, and a $550,000 HUD lead based paint abatement grant.  The property underwent a substantial renovation that lasted 18 months, including a six-month interruption due to the severe flooding that followed hurricane Katrina.  As of today, The Palmetto Apartments are 100% leased and occupied and are enjoying maximum LITHC rents while providing sound affordable housing and improved quality of life for its residents. 

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