A vacant nursing home in New Orleans will become affordable housing for homeless and disadvantaged residents, thanks in part to a $400,000 Affordable Housing Program grant from First NBC Bank and the Federal Home Loan Bank of Dallas.

Gulf Coast Housing Partnership has been spearheading the initiative. The nursing home, located at 2535 Esplanade Ave., will be converted into a 40-unit apartment development. Half will be set aside for the disabled and/or homeless, and the other 20 units will be available to qualifying low-income households.

“There is a real need in this community to provide affordable housing for our most vulnerable,” said Kathy Laborde, president and CEO of Gulf Coast Housing Partnership.

The apartment complex is situated along two bus routes and a new dedicated bike lane. It is within walking distance to two grocery stores, a health clinic and a pharmacy. It will feature on-site parking and security, an interior patio, a resident lounge and on-site laundry facilities.