Construction is underway on a 25-home development in Covington that Volunteers of America Greater New Orleans is building with the intent of providing affordable housing for veterans.
Of the 25 single-family homes in the Cottages at Mile Branch, 13 will be set aside for veterans and their families, and four of those will be compliant with the Americans with Disabilities Act and will be able to accommodate the needs of physically injured veterans.
The development, 424 Purslane Drive, will be owned and managed by Renaissance Neighborhood Development Corp., a subsidiary of Volunteers of America Greater New Orleans. The development group also operates the neighboring 94-unit apartment community, The Groves at Mile Branch, which was completed in 2011.
The houses are part of a lease-to-own program with a 15-year rental period designed as workforce housing with a preference for veterans. After 15 years, the rentals will convert to for-sale properties with the intent that the existing renting residents will be able to purchase their own homes.
The homes will be income- and rent-restricted to be affordable to households earning up to 60 percent of the area median income. These eco-friendly houses are designed and built to Enterprise Green Communities 2011 standards.