Parc Fontaine Apartments sold to Connecticut nonprofit

NEW ORLEANS (WVUE) - The Parc Fontaine Apartments in Algiers have been sold to a new owner, the Mary Fund, a Connecticut-based nonprofit focused on affordable housing.

The complex had been owned by Global Ministries Foundation, a religious nonprofit, and was the subject of multiple Fox 8 Defenders reports. Residents described deplorable living conditions, including broken water pipes and moldy rooms. They also said management was unwilling to address the problems.

The Mary Fund, whose founder is a native New Orleanian, purchased the complex. The organization focuses on affordable housing.

The executive director of the Mary Fund said the organization intends to bring Parc Fontaine back to the standard its residents deserve.

Mayor Moreno said in a statement it is encouraging to see residents there with a path forward focused on their well-being.

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