The Parish Hospital Service District of the Parish of Orleans has received a $97.6 million loan from the Federal Housing Administration to construct an 80-bed hospital in New Orleans East to replace Pendleton Methodist Hospital, which closed after Hurricane Katrina.
The FHA 242 Hospital Mortgage Insurance Commitment from the U.S. Department of Housing and Urban Development was secured by AMS Health Care Mortgage Corp., a HUD-licensed mortgage lender.
The funding will help restore acute-care services to residents of New Orleans East, which currently does not have an acute-care hospital. "We are now one very important step closer to achieving our goal. The strength of the U.S. government is now behind the financing of the New Orleans East Hospital, and we will continue to move forward to bring this full-service hospital to the New Orleans East community," New Orleans Mayor Mitch Landrieu said in a statement.
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The FHA 242 Hospital Mortgage Insurance Commitment from the U.S. Department of Housing and Urban Development was secured by AMS Health Care Mortgage Corp., a HUD-licensed mortgage lender.
The funding will help restore acute-care services to residents of New Orleans East, which currently does not have an acute-care hospital. "We are now one very important step closer to achieving our goal. The strength of the U.S. government is now behind the financing of the New Orleans East Hospital, and we will continue to move forward to bring this full-service hospital to the New Orleans East community," New Orleans Mayor Mitch Landrieu said in a statement.
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