St. Joseph Apartments

600 Seventh Street, Gretna, Louisiana

St. Joseph Apartments includes a two-phase senior housing property in Gretna, Louisiana. Phase I included the conversion of a 1-story schoolhouse into a 2-story, 50-unit building and the rehabilitation of an historic convent and its conversion into an additional 20 units. Phase II included the new construction of 48 units and the rehabilitation of the third floor of a historic chapel building into four studio apartments. The project provides housing to active low-income seniors who do not require assisted-living services. There is also a senior center on the first two floors of the historic chapel building managed by the Jefferson Council on Aging Inc., which provides senior activities, counseling, and other services.

The property lies in the historic district of the town of Gretna, Louisiana, on the West Bank of New Orleans. Gretna is less than a 15-minute drive from downtown New Orleans and the Flower District via the West Bank Expressway.

103,131 net rentable sq ft.

The majority of St. Joseph 's 122 units are rent restricted to tenants earning 60% of the area median income.

Phoenix Realty Group, LLC

$5,000,000

Phoenix Realty Tax Credit Fund IV, LP is managed by Phoenix Realty Group, LLC, a national real estate investment firm providing capital and expertise to urban developers for the creation of middle-market for-sale housing, urban smart growth development, low-income tax credit housing, and community revitalization projects.