The group, led by partners Cullan Maumus, Alex Hernandez and Mike Niemtzow, formed the The New Orleans Redevelopment Fund (NORF), a multimillion dollar fund focused on revitalizing Mid-City and adjacent neighborhoods by purchasing blighted and underused properties primarily in the multifamily space.
The Fund’s mission is “to improve the quality of the City’s housing stock and its communities, while offering compelling returns to private accredited investors.” “We’re proud to be part of the City’s renaissance, and we are extremely excited to put the Fund’s money to work,” managing partner Alex Hernandez said in a statement.
Since mid-2013, the New Orleans Redevelopment Fund has acquired several properties of various sizes and conditions – taking on some of the toughest renovations that others passed over or refused to consider. Most of the projects focus on market-rate apartments.
NORF projects are supported by local firms including Hernandez Consulting and Albert Architecture, who combined have decades of expertise in general contracting and architectural design. Alex Hernandez is also the founder of Hernandez Consulting, which was named Louisiana’s fastest growing private company in 2013 by Inc. Magazine, and Richard Albert of Albert Architecture is a partner in the fund.
The Fund is led by Alex Hernandez, Mike Niemtzow and Cullan Maumus – all alumni of Tulane’s Freeman School of Business.
Kenner Mayor Proposes Lakefront Entertainment District Next Post:
Jazzland to Return to NOLA?