ABA Banking Journal - November 2013 - (Page 12)

bank notes Team of large and small banks, public and private groups revitalize historic New Orleans community 12 | ABA BANKING JOURNAL | November 2013 Out Of the devastatiOn of Katrina and out of the despair of poverty, a historic neighborhood has become a vibrant example of what willing and able partners can accomplish. Bankers attending the aBa annual Convention in new Orleans were taken on a tour (shown above) through part of the city's tremé district. the area was the first community established for free africanamericans, and has a proud cultural heritage, including being home to some of america's leading jazz musicians, among them Louis Prima. for decades, the district struggled with crime and urban decay, and was heavily damaged by Katrina. What the bankers saw was a phoenix-like transformation in tremé brought about through the efforts of 11 of their peers-ranging from JPMorgan Chase and Capital One to Gulf Coast Bank & trust and fifth district savings Bank-working as part of a public-private coalition. the primary development team participants were Providence Community housing, enterprise Community Partners, and L+M development Partners. the project's centerpiece is the faubourg Lafitte community, a ground-up redevelopment of a 27.5acre parcel currently containing 900 units in the vicinity of a former public housing project, which was demolished after Katrina. the Lafitte redevelopment eventually will total 1,500 units. a key element of the plan was to replace every subsidized unit of the phOTOs by Cheryl Gerber The power of cooperation

Table of Contents for the Digital Edition of ABA Banking Journal - November 2013

Chairman's View
Editor's Column
The Economy
Picture This
Bank Notes
Will farmland prices hold up?
Tech Topics
What you do, amplified
Inside Farmer Mac
Meeting the challenge of identity theft
Compliance Clinic
Compliance Inbox
Pass the Aspirin
ABA At Your Service
First Person

ABA Banking Journal - November 2013

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