Franklin, LA—The Louisiana Housing Corporation (LHC) joined community leaders and project partners such as New Orleans Restoration Properties, RNDC and Volunteers of America Southeast Louisiana today to celebrate the groundbreaking of The Avenue, an innovative redevelopment that will transform the former Franklin Foundation Hospital into 72 affordable apartments for seniors ages 55 and older.
The project represents a significant investment in St. Mary Parish, addressing the need for safe, quality and affordable housing while preserving an important piece of Franklin’s history.
“LHC is honored to be a collaborative partner in this project,” explains LHC Executive Director Kevin Delahoussaye. “The Avenue represents an important investment in St. Mary Parish, transforming the former Franklin Foundation Hospital into much-needed affordable housing for seniors. This project demonstrates what can happen when strong partnerships and innovative financing come together to address the housing needs of a community.”
The project is an example of adaptive reuse at its best. Rather than allowing the former hospital to sit vacant, The Avenue will breathe new life into the property while maintaining its historic character and significance.
The redevelopment represents a substantial financial investment supported by a combination of public and private resources. LHC awarded more than $15 million through the Low-Income Housing Tax Credit Program, while collaborative efforts with the Louisiana Office of Community Development helped secure $5.8 million in Community Development Block Grant funds.
“The Avenue is more than an adaptive reuse — it’s a promise kept to the people who built this community. Together with RNDC, we’re taking a place that once cared for the sick and giving it new purpose: caring for the seniors of the community of Franklin with dignity, safety, and a real sense of home,” said Managing Member of New Orleans Restoration Properties, LLC Paul Irons. “This only happens because Louisiana Housing Corporation and every partner at the table believed in the vision as much as we did. That’s what building something that lasts looks like.”
The Avenue demonstrates how the preservation of historic properties can be paired with affordable housing development to create lasting community benefits. Once completed, the former Franklin Foundation Hospital will once again serve the Franklin community, this time as a place that provides quality, affordable homes for local seniors.
“RNDC is proud to have the opportunity to partner on this much-needed development for older adults in St. Mary Parish who deserve a safe, quality place to call home,” explained Renaissance Neighborhood Development Corporation Executive Director Vanessa Levine. “We appreciate NORP's leadership and the support of the Louisiana Housing Corporation and our public and private partners. Working together, we're preserving an important community landmark while creating quality housing that will serve residents for years to come.
The architect for The Avenue will be HCI Architecture, while building and contracting work will fall under RNGD Builders and NORP Construction, LLC. Once the property is finished, HRI Management will act as the property manager. Other essential partners to the project include Stonehenge Capital, Enterprise Community Partners, Home Bank, the St. Mary Parish Industrial Development Board, FHLBank Atlanta, FHLBank Dallas, the City of Franklin, Teche Health, and the St. Mary Council on Aging.
