FAQ

1. What is the Riggio Foundation and why are they building houses in New Orleans?

The Riggio Foundation is a family foundation created by the founder and chairman of Barnes and Noble, Leonard Riggio, and his wife, Louise. Like many Americans, the Riggio family was profoundly affected by the suffering and devastation caused by Hurricane Katrina and sought to play a role in the rebuilding of New Orleans and help the hard-working people of our city return home.

2. What is Project Home Again?

Project Home Again (PHA) is a 501c3 nonprofit organization that was created by The Riggio Foundation to build homes for low and moderate income families whose homes were severely damaged by the storm. After building 101 homes for such families, PHA decided to expand its mission and build an additional 100 homes that are being sold to first-time homebuyers.

3. Why Gentilly?

In 2007, Project Home Again purchased a large plot of land in Gentilly and built our first 20 homes. During that project, we came to know and love Gentilly for its diversity and neighborliness. Project Home Again believes that in order to repopulate New Orleans, we must ensure that safe, pleasant, mixed-income neighborhoods, like Gentilly, are rebuilt.

4. When and what kind of houses is Project Home Again building?

PHA is building 2, 3 and 4 bedroom houses each with two bathrooms. The homes are elevated, energy-efficient homes built in the Craftsman style that is common in Gentilly. Construction began in early October 2012.

5. How do I know if I qualify?

Homebuyers must meet the following criteria:

  1. Homes will only be sold to first-time homeowners or buyers who haven’t owned a home in the past 3 years.
  2. Homes will only be sold to buyers who do not receive more than 5% of the purchase price as gift funds
  3. Homes will only be sold to buyers who have a combined household income at or below 120% Area Median Income (AMI).  See chart below.
  4. All homebuyers are required to graduate from a 12-hour Homebuyer Education course.
  5. Resale restrictions apply within the first two years after home purchase.
  6. 4-Bedroom homes will only be sold to households with 3 or more members

Maximum Income Guidelines:

Family Size 1 Person 2 People 3 People 4 People 5  People 6  People 7  People
Maximum Household Income $50,400 $57,600 $64,800 $72,000 $77,760 $83,520 $89,280

 

Please call if you have any questions: 504-529-3522