The Archdiocese of New Orleans has finalized the sale of Christopher Homes, its portfolio of apartments for low-income seniors, to New York-based Tredway, one of the largest affordable housing developers in the country.
The $152 million deal, which closed Friday, ensures that some 1,600 elderly and disabled residents of the 14 complexes will be able to stay in the homes, which Tredway CEO Will Blodgett said will get long overdue renovations totaling as much as $50 million.
“I am happy to say we are not only buying these and preserving them as affordable, but we are going to ensure they remain affordable and high quality for people who live there,” Blodgett said by phone Sunday…