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HRI Properties Historic Property Development in the GO Zone March 2007 Hal Fairbanks 504-679-5068

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Presentation on theme: "HRI Properties Historic Property Development in the GO Zone March 2007 Hal Fairbanks 504-679-5068"— Presentation transcript:

1 HRI Properties Historic Property Development in the GO Zone March 2007 Hal Fairbanks

2 Flint Goodridge Elderly Apartments – New Orleans, LA Sources: First Mortgage$600,000 LIHTC Equity9,979,000 Historic Tax Credit Equity2,909,000 TDC13,488,000 Built as the first private black hospital in the City of New Orleans, the building is rich with the history of medical care, and professional development in the black community. New Orleans first three black mayors were born at Flint Goodridge. 93 apartments now fill the rooms and wards. The project was badly damaged by Hurricane Katrina however; it is now being renovated and returned to service as affordable senior housing.

3 Redemptorist Elderly Apartments – New Orleans, LA Sources: First Mortgage$997,000 LIHTC Equity11,340,000 Historic Tax Credit Equity3,663,000 TDC16,000,000 This project will rehabilitate three historic buildings that were once part of the Redemptorist seminary. The property had previously been converted into 107 apartments for the low-income elderly, but was damaged by Hurricane Katrina. Located in the Lower Garden District, the project abuts River Garden, HRI Properties HOPE VI redevelopment, and offers convenient access to transportation, shopping, and public services.

4 River Garden Historic Apartments – New Orleans, LA Sources: First Mortgage$680,000 LIHTC Equity6,838,000 Historic Tax Credit Equity2,210,000 TDC9,728,000 This phase of HRI Properties HOPE VI, River Garden project will adaptively reuse historic buildings that were retained at the former public housing development, creating 37 new mixed-income apartments.

5 Bywater Art Lofts – New Orleans, LA Sources: CDBG Loan$957,000 LIHTC Equity7,879,000 Historic Tax Credit Equity2,241,000 Lot Sale160,000 TDC11,237,000 The Bywater Art Lofts project will rehabilitate a historic warehouse in the Bywater neighborhood into 37 affordable apartments, marketed to artists.

6 KING EDWARD HOTEL & STANDARD LIFE BUILDING, JACKSON, MISSISSIPPI

7 THREEFOOT BUILDING, MERIDIAN, MISSISSIPPI

8 VA HOSPITAL, GULFPORT, MISSISSIPPI

9 HRI Properties Historic Property Development in the GO Zone March 2007 Hal Fairbanks


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