Crescent Affordable Housing Corporation

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The Housing Authority of New Orleans (HANO) provides safe and affordable housing to over 22,000 public housing and HCVP residents in NOLA. Welcome to the official Housing Authority of New Orleans (HANO) Facebook page! TO PARTICIPATE IN THE DEVELOPMENT OF HOUSING THAT IS AFFORDABLE TO PERSONS OF LOW AND MODERATE INCOME.

Crescent Affordable Housing Corporation
Overview

The Crescent Affordable Housing Corporation (CAHC) is a nonprofit organization dedicated to providing affordable housing solutions. It was established by the Housing Authority of New Orleans to assist in acquiring, financing, redeveloping, rehabilitating, and constructing affordable housing projects.

Mission and Activities

CAHC's primary mission is to participate in the development of housing that is affordable to persons of low income. As a component unit of the Housing Authority of New Orleans, CAHC works closely with other entities to achieve its mission. It is also the sole member of several for-profit entities involved in managing and operating affordable housing projects developed on properties owned by the Housing Authority of New Orleans.

Financial Overview

In recent years, CAHC's financial situation has been challenged. For instance, as of 2019, the corporation reported an operating loss of approximately $2.356 million. Additionally, by the end of 2019, its total net position was a deficit of $19.68 million. More recent data indicates that for the fiscal year ending in 2023, the organization's total revenue was minimal at $5,180, with expenses reaching around $672,000. The total assets were recorded as a negative $2.48 million, and liabilities stood at $982,000.

Structure and Governance

CAHC operates under a structure that involves managing and partnering with other entities to achieve its affordable housing goals. It serves as a critical component in the broader efforts of the Housing Authority of New Orleans to provide affordable housing options.

Historical Developments and Challenges

Since its inception in 2003, CAHC has faced various financial and operational challenges, including significant operating losses and interest expenses. Despite these challenges, the organization continues to play a role in the development and management of affordable housing projects in New Orleans.

Classification

CAHC is classified under the category of Housing, Shelter, and Housing Development, Construction, and Management. Donations to this organization are tax-deductible, reflecting its status as a charitable organization.

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Founded

2003

Facebook

2000

X (Twitter)

292

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966336

Address: 4100 Touro St, New OrleansWeb: Sign in to see organisation websiteFacebook: HANOHOUSINGX (Twitter): HANO_HOUSINGRevenue: 5182ICO: 200470082

Housing Authority of New Orleans - Home

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News about from their social media (Facebook and X).

Crescent Affordable Housing Corporation

Wishing you a Happy Father's Day.

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Paul

So proud of the work HANO is doing to provide safe and affordable housing for the community! Every effort counts in making NOLA a better place to live. ❤️🏡

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Catherine

- How can we better address the unique challenges faced by senior residents in the various communities managed by HANO?

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Christine

- What strategies can the Housing Authority of New Orleans implement to enhance community engagement and support for residents in affordable housing developments?

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Emil

Amazing to see how many lives are being positively impacted by Crescent Affordable Housing Corporation! Let's keep pushing for affordable housing and support our neighbors! 🙌✨

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Collected information

Data about organisation

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