"On March 27, BankPlus and national disaster recovery nonprofit SBP, along with the City of New Orleans and partners, celebrated the groundbreaking of St. Claude Gardens II, a 39-unit affordable housing development aimed at fostering resilient, inclusive and sustainable housing opportunities in the Lower 9th Ward. The event took place at 2407 Tennessee Street.

BankPlus is providing a $6 million commercial real estate loan to help finance the project, and it is also investing in credits through the Low-Income Housing Tax Credit Program that will provide an additional funding source. SBP is leading the project's development and construction.
SBP plans to build St. Claude Gardens II using resilient-building techniques and materials, including metal framing, to fortify the homes against extreme weather conditions. Solar panels will help reduce energy costs and minimize the project's carbon footprint.

'At BankPlus, we understand the impact affordable housing has on helping communities to thrive – especially in New Orleans - and we are thrilled to deliver the necessary funding to make St. Claude Gardens II happen. These structurally-sound, resilient homes will improve the housing options in the Lower Ninth Ward for neighbors and help restore this vibrant community. We see this project as a symbol of our commitment to New Orleans and our neighbors here, and we can't wait to see St. Claude Gardens II completed.' – Jeff Ehlinger, Executive Vice President and Louisiana President for BankPlus."