New Orleans, LA — The Louisiana Housing Corporation (LHC), alongside local and state, celebrated the groundbreaking of the Senior Housing Community at Federal City for New Orleans Riverside, an acquisition and rehabilitation project that will provide affordable housing units for veterans and senior citizens in the Algiers area.
LHC awarded $10.5 million in Multifamily Housing Revenue Bonds (MRB), and $796,465 in Low Income Housing Tax Credits (LIHTC) toward the successful completion of this project.
“At Louisiana Housing Corporation, we are proud to be a part of projects like this that revitalize and reuse the resources that we have,” said Interim-Executive Director Marjorianna Willman. “We are constantly thinking of the needs of our aging seniors, and there is a significant need to increase affordable housing opportunities for our aging population, who need an affordable place to call home, while still living in the same community that they love.”
The Senior Housing Community at Federal City will include disaster-resilient features, built with hardened materials that can withstand powerful natural disasters, such as hurricanes. These building techniques will preserve the building and allow residents to feel safe. This complex will include 70, one-bedroom and two-bedroom units and will include a community center on-site for the tenants’ use at no charge.
“The Louisiana Office of Community Development is pleased to partner with the Louisiana Housing Corporation by investing $10.5 million in Community Development Block Grant Disaster Recovery funding into this resilient, affordable housing development for seniors and veterans in Federal City,” OCD Executive Director Pat Forbes said. “Our hats are off to the Algiers Economic Development Foundation, City of New Orleans, as well as state and local officials, who joined forces to save the military presence in the Algiers section of New Orleans, which will be greatly enhanced by the addition of this much needed housing community for some of our most vulnerable and deserving residents.”
The developers of this construction project are Brown-Taylor Development and MSG, LLC. The architecture will be done by Trapolin-Peer Architects. The builder and Contractor will be Brown Builders, Inc. Management Company over the senior housing facility will be Fairfield Project Management.
For More Information, visit: Algiers Development District
Breanne Bizette
Public Information Officer, Louisiana Housing Corporation
