Archdiocese of New Orleans finalizes $152M sale of Christopher Homes apartments
NEW ORLEANS, LA — The Archdiocese of New Orleans has finalized the sale of Christopher Homes apartments to Tredway, a New York-based developer, according to our partners at the Times Picayune | New Orleans Advocate.
The $152 million deal, which closed Friday, includes 14 complexes housing about 1,600 elderly and disabled residents.
Tredway CEO Will Blodgett told NOLA.com that residents will be able to stay in the apartments.
The sale is a key part of the archdiocese’s bankruptcy settlement with hundreds of clergy sex abuse survivors. Under the agreement, proceeds from the sale will go toward a $300 million trust for survivors.
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