Lincoln Avenue Communities Sets New Standard in Affordable Housing Development in New Orleans

Lincoln Avenue Communities Breaks Ground on New Affordable Housing Development in New Orleans

In an exciting development for the Bywater neighborhood of New Orleans, Lincoln Avenue Communities (LAC) has officially broken ground on the NSA East Bank Apartments, a project poised to provide 294 affordable housing units. Standing as a testament to urban renewal and community development, this initiative will repurpose a decommissioned naval base that has lain dormant since 2011.

Transformative Vision for Bywater Community

LAC, known for its commitment to affordable housing, aims to create a sustainable and vibrant community by converting historic structures at the Naval Support Activity (NSA) complex into residential and commercial spaces. The project is part of a broader vision to reinvigorate the area, fostering economic growth and improving the quality of life for local residents.

Designed with the community in mind, the NSA East Bank Apartments will include a mixture of 1-, 2-, and 3-bedroom units, catering to families earning between 20% and 60% of the Area Median Income (AMI). Among these, 74 units will be allocated as Project-Based Vouchers (PBV), ensuring accessibility for those who need it most. To enhance the living experience, residents will have access to amenities such as a rooftop pool, clubhouse, community spaces on the ground floor, outdoor playgrounds, a dog park, and bike storage.

A Focus on Sustainability and Community

Beyond just providing housing, the project is designed to be environmentally friendly. It aims for Enterprise Green Communities Certification, which aligns with practices of sustainable development. A solar array on the rooftop will help to minimize energy costs, further benefiting residents while contributing to environmental sustainability.

The development is part of a multiphase initiative that will also introduce the NewLab innovation hub, aimed at promoting advancements in the energy sector and nurturing tech startups. Future phases include the Railyard Marketplace and a riverfront park, which will offer recreational spaces and support local businesses.

Commitment from Local Leaders

The groundbreaking ceremony drew attention from local leaders and elected officials, highlighting the strong support from the City of New Orleans and the State of Louisiana, which have been instrumental in bringing this project to fruition. The U.S. Department of Housing and Urban Development (HUD) has designated this project as a priority, emphasizing its significance to the community.

David Garcia, Vice President of LAC, remarked, "This project will be transformative for the Bywater community and will bring new life to these historically significant buildings. LAC is proud to play a role in preserving the architectural heritage of New Orleans while creating sorely needed affordable housing for local families."

Financial Backing and Community Impact

Financed through historic tax credit equity and public-private partnerships, the NSA East Bank Apartments project is supported by renowned institutions including J.P. Morgan, Capital One, and Boston Financial. These collaborations underscore the essential role of community investment in driving such large-scale projects.

Tim Karp from J.P. Morgan highlighted the importance of maintaining the city's rich heritage while creating opportunities for present and future residents. Similarly, Dan Miller from Capital One stated, "Housing is the cornerstone of economic opportunity, and Capital One is proud of our track record as a top community development lender."

A Bright Future Ahead

Construction is set to begin immediately with an expected completion date in September 2027. The NSA East Bank Apartments project promises to catalyze further development in the Marigny and Bywater areas, creating a mixed-use campus that serves as an economic and cultural hub for New Orleans.

Lincoln Avenue Communities is at the forefront of affordable and sustainable housing solutions, with over 170 properties across 32 states. Their dedication is reflected in the transformative projects they undertake, ensuring that as cities evolve, they continue to be inclusive and accessible to all residents.

With its roots firmly planted in the historic fabric of New Orleans, this new development marks a hopeful future for the community, promising both homes and opportunities for generations to come.