NEW ORLEANS (press release) – VPG Holdings and American South Capital Partners (“ASCP”), a joint venture of SDS Capital Group and Vintage Realty Company, has acquired a 250-unit apartment community in New Orleans.
Built in 2009 and located at 2651 Poydras St., The Marquis features a combination of non-restricted and deed-restricted affordable housing units comprised of one-, two-, three-, and four-bedroom floorplans. The project features a variety of unit affordability levels including a large portion at deeper affordability levels for tenants earning less than 60% AMI which is Area Median Income – the midpoint of all household incomes in a specific geographic area.
ASCP and VPG’s investment into The Marquis will ensure the long-term quality housing at various affordability levels. The partnership plans to invest significant capital into funding deferred maintenance and interior improvements, with the focus on implementing more energy and water efficient appliances including water heaters, dishwashers, refrigerators and air conditioners…