Seniors Coming Back Home to New Affordable Housing Community: Volunteers of America...

Tue Mar 18, 2008 12:18pm EDT

* Reuters is not responsible for the content in this press release.

Seniors Coming Back Home to New Affordable Housing Community: Volunteers of
America Breaks Ground on Property in New Orleans

The Terraces on Tulane will Open 2009

NEW ORLEANS, March 18 /PRNewswire-USNewswire/ -- Hundreds of elderly New
Orleans residents displaced by Hurricane Katrina will soon be coming back
home. On March 14, Volunteers of America broke ground on their future home,
The Terraces on Tulane, a 200-unit community for low-income seniors.

Volunteers of America is one of the largest nonprofit developers and providers
of affordable housing nationwide. Construction of The Terraces on Tulane -
which will include a computer lab and other amenities - is expected to be
completed late 2009. The Terraces on Tulane will offer residents health and
medical services, transportation services, and planned social, educational and
recreational activities. The development is part of Volunteers of America's
"Coming Back Home" initiative to create more than 1,000 units of affordable
rental housing and allow residents to reestablish their former neighborhoods
and communities.

"Volunteers of America has made a commitment to help rebuild New Orleans and
provide affordable housing that allows residents to return to the city and
re-establish lost communities," said Charles Gould, national president and
chief executive officer of Volunteers of America. "We have been a part of this
community for more than a century and will continue to play an active role in
recovery efforts here and throughout the Gulf Coast region."

The Terraces on Tulane replaces the Forest Towers senior rental property,
which was damaged by Hurricane Katrina. Many former residents have expressed a
desire to return to New Orleans, but are unable to afford current market
rental rates. 

In addition to Volunteers of America, project partners include JP Morgan
Chase, the U.S. Department of Housing and Urban Development, the Louisiana
Housing Finance Agency, the City of New Orleans and the Major League Baseball
Players Trust. 

Volunteers of America has had a significant presence in New Orleans since
1896. The organization has been a leader during the past few years rebuilding
affordable housing destroyed by the hurricane and is in the process of
restoring new, permanent units in the city. In August 2007, the organization
opened the newly renovated Duvernay Residence on Canal Street. The 70-unit
facility for formerly homeless adults sustained more than $600,000 in damage
from Hurricane Katrina. Additional units are being restored at the 3901 Tulane
Avenue Residence, which also sustained significant damage from the hurricane.

In partnership with the Major League Baseball Players Trust and other major
donors, Volunteers of America also established the Rental Housing Development
Fund, which will be used to develop affordable rental housing in the Gulf
Coast region.

For more information about housing at The Terraces on Tulane, please call
Latter & Blum Property Management at (504) 733-3553.

Volunteers of America is a national, nonprofit, faith-based organization
dedicated to helping those in need rebuild their lives and reach their full
potential. Through thousands of human service programs, including housing and
healthcare, Volunteers of America helps more than 2 million people in over 400
communities.  Since 1896, our ministry of service has supported and empowered
America's most vulnerable groups, including at-risk youth, the frail elderly,
men and women returning from prison, homeless individuals and families, people
with disabilities, and those recovering from addictions. Our work touches the
mind, body, heart-and ultimately the spirit-of those we serve, integrating our
deep compassion with highly effective programs and services. For more
information about Volunteers of America, visit
http://www.VolunteersofAmerica.org.

 
SOURCE  Volunteers of America

Roberta Heine, +1-703-341-7042, rheine@voa.org, or Sheryl LeBlanc,
+1-504-486-8667, sleblanc@voagno.org, both of Volunteers of America
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