Harmony Neighborhood Development has evolved over the years as we reflect back on our history. HARMONY was established in 1998 as New Orleans Neighborhood Development Collaborative (NONDC), a coalition of partners committed to re-energizing the city's social, physical, and economic landscape. After Katrina, in 2006 HARMONY partnered with national affordable housing developer McCormack Baron Salazar in the first post-Katrina redevelopment of one of New Orleans' devastated older public housing projects. Central City's infamous C.J. Peete public housing project into the 460 unit mixed-income Harmony Oaks Apartments. In addition, HARMONY was funded through a HOPE VI partnership to develop 55 single-family homes to low-to-moderate income buyers to stablilize the neighborhood surrounding Harmony Oaks. With this initial investment into Central City, New Orleans HARMONY was able to leverage additional dollars to allow us to acquire blighted properties and develop and additional 17 homes and partner in developing an additional 18 affordable rental units. HARMONY continues to revitalize Central City by acquiring and redeveloping blighted properties, bringing homeownership and entrepreneurial opportunities to residents, and partnering and leveraging resources to address community issues and commercial corridors.
This progress in creating economic opportunity and helping New Orleans' families build assets would not be possible without the catalytic support of our Partners and Donors.
Beyond the development of high-quality houses, HARMONY continues to invest its resources in the heart of our great city, the PEOPLE! Through HARMONY's Wealth and Asset Building Program we bring Financial Capability to our community at the ground level. HARMONY works with families on their short and long-term goals, to include homeownership and small-business development through credit remediation, budgeting, financial counseling/coaching. Harmony has also partnered with other non-profit developers to provide our LMI clients with more options in New Orleans and works intensively with our clients to prepare them for homeownership and serves as a mediator in the mortgage relationship all the way to the closing table. Through this program, HARMONY was able to create a pathway to owning the homes we were building to New Orleans' natives, leading to 98% of our buyers are natives to the neighborhood for which we build.
In addition, HARMONY manages the Harmony Oaks Community Center in Central City, bringing meaningful and impactful services in arms reach of our families. These services target the overall wellness of a family, cultivating our culture, information sharing, and education.
Our outcome and impact illustrates how HARMONY has and continues to leverage funding and relationships to meet its goals and mission. $13.1M in funding and financing has been secured for development of our properties resulting in 72 completed homes of which 67 have been sold to very low and moderate income families.
This year, HARMONY is completing construction on (5) additional single-family Homeownership Units with HOME funded construction subsidy. HARMONY is a partner in the pre-development of (72) affordable rental units in the Lower 9th Ward of New Orleans. HARMONY is selling (5) lots in Central City to the Crescent City Community Land Trust with the purpose of creating permanent affordability in Central City. HARMONY is also revitalizing a key neighborhood commercial corridor in Central City with an intense focus on creating economic opportunity for residents through job training, direct employment, and small business development.