Rebuilding New Orleans
Unfortunately, due to the devastation of Hurricanes Katrina and Rita, The NHP Foundation’s New Orleans properties were severely damaged—totaling nearly 1,000 units.

A financing gap has impeded reconstruction efforts throughout the Gulf Coast region. However, The NHP Foundation takes a unique approach to financing, combining both public and private funding, which has enabled us to remain flexible and move forward with rebuilding New Orleans' affordable housing.

To date, The NHP Foundation's progress has been significant—with plans to create 3,000 affordable units at a cost of $300 million. And residents have begun to move back into our Gulf Coast properties.

Ghebre Selassie Mehreteab, CEO and co-chairman of The NHP Foundation, recently testified before the House of Representatives Financial Services Committee on rebuilding New Orleans' affordable housing and NHPF's innovative financing structure. // MORE

NHPF CEO Mehreteab comments about the finance challenges in rebuilding New Orleans. // MORE

New York Times / Columnist Bob Herbert champions The NHP Foundation's progress in New Orleans
"On Garden Oaks Drive in the Algiers neighborhood [NHPF CEO Ghebre Mehreteab] showed me a remarkable sight — a sparkling two-story apartment complex, neatly landscaped, that was owned by NHPF, was badly damaged by the hurricane, and is now being completely renovated at a cost of $20 million." // MORE