St. Bernard Project

Rebuilding the Homes and Lives of Katrina Survivors

Buy a home with SBP!

Eight years after Hurricane Katrina left most of the New Orleans area under water, the community
is still grappling with additional crises resulting from the storm: the lack of affordable housing,
the widespread number of blighted properties and empty lots, and increased housing costs.

SBP’s First Time Homebuyer Program creates affordable homeownership opportunities for residents targeted between 50% and 80%, but up to 120%, of Annual Median Income (AMI), while rehabilitating blighted properties and strengthening neighborhoods.

Mortgage payments for our buyers are set between 25-33% of income. SBP works with lenders that offer mortgages to new homeowners with low or no credit –as well as with FHA products. These lenders work with SBP to provide homeowner subsidies, which help increase homeownership in a demographic that is traditionally excluded from the mortgage market.

One of our homes

Our Process:

Clients are carefully selected to ensure they are long-term residents who have a steady source of income. Homebuyer Training is required to receive subsidies. This 12-hour class will prepare potential buyers for the process of obtaining a mortgage and provide insight into the responsibilities of homeownership. Processes vary by Parish.

General Eligibility
To be eligible for our program, clients must:

  • Not own any other residential property
  • Have lived or worked in the Greater New Orleans Area for three years, or lived here prior to Hurricane Katrina
  • Have a steady source of income

Financing Our Homes
SBP staff members work with clients to:

  • Obtain a loan set between 25-33% of income, which includes principal, interest, property taxes, and flood and homeowner’s insurance (PITI) costs
  • Obtain homeowner’s and flood insurance
  • Provide support through the process to closing on a brand new home!

Our Communities:

The Opportunity Housing Program is currently operating with homes in Gentilly, a diverse New Orleans neighborhood with an array of 19th and 20th century housing types; New Orleans East, a thriving & up-and-coming community; the Lower Ninth Ward, an historic area with a cache of civil rights history and cultural achievement; and the industrious neighborhoods of Arabi and lower St. Bernard Parish, which is located just five miles from downtown New Orleans.


View SBP Homes in a larger map

Orleans Parish
Our homes in Orleans Parish are located in Gentilly, New Orleans East and the Lower 9th Ward. By working with SBP, clients gain access to homebuyer subsidies that increase the homeowner’s purchasing power.

NSP2 homes are designed to assist homebuyers with incomes at or below 120% AMI. The NSP2 grant also offers a homebuyer subsidy of up to $65,000. The NSP2 subsidy is 0% interest and forgivable over time, provided the homebuyer agrees to certain requirements. Furthermore, NSP2 funds can also be used to fund up to $3,000 in closing costs.

HOME grant homes are marketed for homebuyers with incomes between 50-80% AMI. Similar to NSP2, there is a homebuyer subsidy, which allows the homebuyer access to up to $50,000 with 0% interest. We are now proud to offer a lease-to-own program for our HOME grant properties in the Lower 9th Ward!

The City of New Orleans offers its own soft second mortgage program which helps income eligible buyers make purchases. Households earning up to 120% AMI are eligible for assistance. Households earning up to 80% AMI may access to the maximum $65,000 with an additional $10,000 in closing costs for any home purchased in Orleans Parish. Similar to other programs, this is a forgivable over time at 0% interest. Click below on your neighborhood of interest to see our available properties.

 

 

Gentilly

1328 Mandolin Street

1443 Burbank Drive

4924 Lafaye Street

4614-16 Baccich Street

5010 Cartier Avenue – Under Contract

4602 Baccich Street – Sold

1334 Granada Drive – Sold

3724 Virgil Boulevard – Sold

1460 Granada Drive – Sold

1231 Seville Avenue – Sold

1491 Granada Drive – Sold

1512 Riviera Avenue – Sold

1257 Riviera Avenue – Sold

4833 Paris Avenue – Sold

4430 Wellington Avenue – Sold

5114 Cartier – Sold

Lower Ninth Ward

1812 Charbonnet Street – Lease-to-Own Option Available

1800 Charbonnet Street – Lease-to-Own Option Available

1835 Caffin Avenue – Lease-to-Own Option Available

Little Woods

7021 Curran Boulevard

7541 Sheffield Street

10141 Chevy Chase Drive

6911 Dorchester Street – Under Contract

7461 Seven Oaks Road – Under Contract

 

St. Bernard Parish
Our St. Bernard homes, both renovated and newly built, are funded primarily through private donation to SBP. Homebuyers interested in one of these homes, must earn an income between 50-120% AMI. St. Bernard Project offers it’s own 0% interest forgivable homebuyer subsidy for up to $65,000. Similarly, St. Bernard Parish offers homebuyers up to $30,000 in loan reduction on FHA loans. Click below on your neighborhood of interest to see our available properties.

St. Bernard

1824 Heights Drive – Lease-to-Own Option Available

1613 Heights Drive – Leased

2245 Bayou Road – Leased

Chalmette

314 Oak Place – Sold

3900 Ventura Drive – Sold

2704 Creely Drive – Sold

3713 Pecan Drive – Sold

Arabi

1113 Perrin Drive

409 Serpas Drive – Leased

2116 Mehle Street – Sold

923 LeBeau Avenue – Sold

8417 Fairfax Drive – Sold

Violet

2205 Riverbend Drive – Sold

Meraux

4000 Najolia Drive – Sold

 

 

 

SBP is a member of Own the Crescent, a project of the Greater New Orleans Housing Alliance. More information is available at the Own the Crescent website or by phone at 1-855-2buyDAT.

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