Hope Credit Union Continues to Build Up Communities Across Deep South with Major Project Announcements

Hope Announces Deal Closings with Canseco Properties, Brookville Gardens Group LP, Valley Oaks, Ltd., and L&H Enterprises to Expand Properties in Deep South

NEW ORLEANS, LA (May 19, 2022) — Hope Credit Union is partnering with Canseco Properties in an expansion deal that will sustain affordable grocery stores with healthy food options and bring jobs to underserved communities. With the new store will come 20 new jobs and a variety of food options for shoppers, including a sushi bar, an expanded deli counter, refrigeration for fresh fruits and vegetables, an in-house bakery, and prepared foods. The store will serve over 21,000 residents, three out of four of whom are Black.

“Health and financial wellness are linked in many ways but the communities we serve are vulnerable to food droughts and unhealthy food options due to years of discrimination,” says HOPE Senior Vice President of Community & Economic Development Kathy Saloy. “Canseco’s Market will create new jobs while making healthy groceries accessible for our communities.”

In addition to Canseco Properties, HOPE announced other loan closings with businesses in their efforts to expand and offer housing and financial services to communities in the Deep South:

• Brookville Gardens Group LP is acquiring a 120-unit apartment complex in Starkville, MS. Using Low-Income Housing Tax Credits, Brookville Gardens will be developing the property in 12 months and utilizing HOPE’s bridge loan program for 24 months.

• HOPE financed Valley Oaks, Ltd., a 56-unit development, in Valley, Alabama. Low Income Housing Credits will help to fund this construction. Additionally, U.S. Treasury Capital Magnet Funds will be a part of the financing for the construction of the 56-unit development.

• L&H Enterprises is a firm that specializes in financial consulting and event hosting. To facilitate this, L&H is purchasing a multi-functional commercial building as an event center called “The Haven.”  It will consist of office spaces and other spaces to host events for groups of up to 60 people in Baton Rouge, Louisiana.

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About HOPE 

HOPE (Hope Enterprise Corporation, Hope Credit Union, and Hope Policy Institute) provides financial services; aggregates resources; and engages in advocacy to mitigate the extent to which factors such as race, gender, birthplace, and wealth limit one’s ability to prosper. HOPE has generated or leveraged more than $3.6 billion in financing that has benefitted over 2 million people in Alabama, Arkansas, Louisiana, Mississippi, and Tennessee. Learn more at www.hopecu.org.