New Orleans, LA — The Louisiana Housing Corporation (LHC), The Office of Community Development-Disaster Recovery, and Brown-Taylor Development open the doors to Riverside Retreat at Federal City, providing 70 affordable housing units for veterans and senior citizens.
The Riverside Retreat at Federal City is a newly constructed senior living facility built to a Fortified Gold Standard, impacting the lives of the elderly in the Greater New Orleans Region. The goal for the project was to create a resilient structure that made residents feel safe. The senior and veteran housing development includes enhanced structural resiliency measures such as impact-rated windows, reinforced framing, and a full-property backup generator for extra support.
Other amenities on site include secure on-site parking for the residents, elevator access to all floors, and pet-friendly policies. Developers chose to construct the building near the Historic Algiers Point to provide residents with essential access to shopping, dining, and entertainment options. The location will also include great walking trails along the Mississippi River Levee.
LHC awarded the project $685,658 in Low Income Housing Tax Credits (LIHTC) and $10.5M in Multifamily Housing Revenue Bonds (MRB). Through a partnership with the Office of Community Development Disaster Recovery, LHC also awarded $10.5M in Community Development Block Grant (CDBG) funds through its PRIME-2 Program.
LHC celebrated the groundbreaking of this development in October 2023 and is proud of the collaboration done by partners to serve Louisiana residents. "Over time, LHC has identified our senior citizens as one of our most vulnerable populations that carry the burden of being extremely low-income renter households," explains LHC Executive Director Kevin Delahoussaye. "Being able to put a property like Riverside at Federal City, in New Orleans, is going to have a profound impact on our senior citizens and veterans. We are happy that our housing partners see the importance, too. They help us develop properties that cater to the target audiences that need us the most."
“We are proud to help fund Riverside Retreat at Federal City with a loan that will be used to provide much-needed housing that is resilient, sustainable and offers desirable amenities for our seniors and veterans,” Louisiana Office of Community Development-Disaster Recovery Executive Director Gina Campo said. “We thank our veterans for their service and our seniors for their lifelong contributions to our state’s culture and history. This project shows what we can accomplish when we work together to ensure that Louisiana’s recovery is safer, stronger and smarter than before.”
Riverside at Federal City will offer multiple bedroom style options and will include a community center on site for the tenants to use at no charge. “Riverside Retreat at Federal City represents more than just housing; it reflects our shared commitment to building a community where older adults can thrive with comfort, security, and dignity," said Developer Edward Taylor. "This development is the result of strong collaboration between our public and private partners, and we are proud to help bring much-needed quality housing options to the veterans and seniors of New Orleans.”
Collaborating partners for this development included Trapolin-Peer Architects and Fairfield Property Management. If you are interested in learning more about this property, please go to the Riverside Retreat at Federal City's Website.
To learn more about the available units and property management, please email:
riverside.mgr@fairfieldpropmgmt.com
