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U.S. Bank Closes On Financing For Historic Iberville Housing Redevelopment In New Orleans

“HRI is proud to have U.S. Bank as a long-term partner in the revitalization of Iberville and this historic area of New Orleans,” said Josh Collen, Vice President of Development of HRI Properties. “These initial phases will be an impactful component of the Choice Neighborhood Initiative, an innovative collaboration between the City of New Orleans, the Housing Authority of New Orleans and many other stakeholders.”

About HRI PropertiesBased in New Orleans, HRI Properties (HRI) is a full-service real estate development company and a national leader in the adaptive reuse of historic structures. HRI’s mission is “revitalizing cities by creating diverse, vibrant, sustainable communities”. Since its founding in 1982, HRI has completed more than 70 large-scale projects, which total 5,226 apartment and condominium units, 4,116 hotel rooms, and more than 1.3 million square feet of retail and office space with a total development cost of $2 billion. For more information, go to www.hriproperties.com.

About U.S. Bancorp Community Development CorporationWith more than $13.1 billion in managed assets as of Dec. 31, 2013, U.S. Bancorp Community Development Corporation, a subsidiary of U.S. Bank, provides innovative financing solutions for community development projects across the country using state and federally sponsored tax credit programs. USBCDC's commitments provide capital investment to areas that need it the most and have contributed to the creation of new jobs, the rehabilitation of historic buildings, the construction of needed affordable and market-rate homes, the development of renewable energy facilities, and the generation of commercial economic activity in underserved communities. Visit USBCDC on the web at www.usbank.com/cdc.

About U.S. BankU.S. Bancorp (NYSE: USB), with $364 billion in assets as of Dec. 31, 2013, is the parent company of U.S. Bank, the 5th largest commercial bank in the United States. The company operates 3,081 banking offices in 25 states and 4,906 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.

Copyright Business Wire 2010
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