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HOPE Housing Foundation partners with the United States Department of Housing and Urban Development to preserve 468 units of Affordable Housing in Westwego, LA

Westwego, Louisiana, Friday, June 13, 2014—Hope Housing Foundation (HOPE) a McKinney,
Texas based 501(c)(3) affordable housing provider has acquired a 468 unit Multi-Family
community in Westwego, Louisiana known as Cypress Cove Apartments / fka Beechgrove
Apartments (The COMMUNITY). The COMMUNITY was developed in the early 1970’s in
Partnership with the United States Department of Housing and Urban Development (HUD).
The COMMUNITY was acquired by HOPE receiving a generous donation of the asset from the
previous Owner. HOPE decided that this was a perfect opportunity to acquire an asset that would
allow them to further perpetuate its Mission of positively affecting the lives of the community they
serve, and become one of the most effective multi-family affordable housing providers in
Westwego.

The COMMUNITY is in the process of rebranding and planning a major renovation project where
in excess of $5,000,000 in upgrades will be deployed. The COMMUNITY will be professionally
managed by Assertive Management Group, Hope Housing Foundation’s wholly owned Managing
Agent.

For additional information on this transaction, or how HOPE can assist with other opportunities,
visit www.hopehousingfoundation.org, or contact Alvin Johnson. 

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