The McEnery Company was retained by 1824 Sophie Wright Place, LLC to secure construction and permanent financing necessary to commence a complete renovation of an historic building located at 1824 Sophie Wright Place in the Lower Garden District Coliseum Square neighborhood of New Orleans. We successfully delivered excellent loan terms to the owner/developer and the loan closed in July of 2016. Our involvement included development modeling, underwriting, and collaboration with historic tax credit consultants necessary to achieve approval of the loan in conjunction with National Parks Service and the Louisiana Historic Preservation Office approvals granting the issuance of both State and Federal Historic Tax credits utilized in the financing of the project. The building had been vacant for over thirty years, and the renovation will be a welcomed addition to the Coliseum Square neighborhood. Home Bank financed the project and The Roth Law Firm is the historic tax credit consultant.
