Liberty Bank and Trust Company, the third largest African American owned financial institution in America, has announced a partnership with four high profile Black athletes to build affordable housing and stimulate re-development in the heart of the historic Seventh Ward neighborhood in New Orleans.
The athlete partners are former NBA stars Kevin Garnett and Devean George along with Carolina Panther’s defensive end, Charles Johnson, and recently signed New Orleans Saints wide receiver, Ted Ginn, Jr.
The team starte site preparation for the building of a multi-family housing community at the corner of St. Bernard Avenue and N. Johnson Street. The mixed-use development will provide affordable units for seniors and residents in this historic Seventh Ward neighborhood. The multi-storied complex will include housing for seniors, affordable and market rate units along with retail commercial space to accommodate neighborhood businesses and spur economic growth in the indigenous neighborhood.
Liberty Bank President, Alden McDonald, Jr. said, “This project will stimulate growth and provide decent affordable housing for the people who make New Orleans the wonderful unique place that it is. We are thrilled to be working with socially conscious African American partners who are committed to making life better for our community.”
And there are more of these projects in the works. To date, there are 3 other projects underway including a 172-unit development in Augusta, GA, an 85-unit development with commercial space in Warrenville, SC, and a mixed-use development of 47 residential units and commercial space in Minneapolis, MN
The housing complex will be built on land owned by Liberty Bank at the site of its former branch on St. Bernard Avenue. The project is being designed by Mathes Brierre Architects led by Todd James.
Michael Sherman of Sherman Strategies and Helena Cunningham is assisting with packaging the financing of the project.
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