Tivoli Place
Louisiana
Like many American cities, New Orleans is facing a severe affordable housing shortage, with the city estimating almost 50,000 more affordable homes are needed to meet the current need. The need is especially acute for low-income seniors.
Tivoli Place is a transformative project that revitalized a historic 8-story building in the heart of New Orleans into 163 high-quality, affordable homes for seniors, including several units set aside as Permanent Supportive Housing for Special Needs households. Built in 1917, Tivoli Place sits on historic St. Charles Avenue within the Warehouse District, which is part of the City’s Inclusionary Housing Zone designated as a high-cost-of-living area. The neighborhood is home to landmarks including the former city hall, the world’s oldest continually operating streetcar line, the Mississippi River and Caesar’s Superdome. Tivoli Place’s rehabilitation honors the development’s past while modernizing the facility for the future, incorporating energy-efficient upgrades and maintaining accessibility with an elevator service.
154 of the homes are reserved for residents at 50 percent of area median income (AMI), one home at 30 percent of AMI, and eight homes at 20 percent of AMI. These final eight affordable homes are intended to serve some of the community’s most vulnerable populations, including elderly individuals, persons with disabilities, single parents, veterans, victims of domestic violence, and those struggling with homelessness. Residents will have on-site access to preventive health care screenings, exercise classes, mentoring programs, transportation, disability counseling, and other social programs. The development includes the restoration of a fresco mural by artist Conrad Albrizio, artwork previously thought to be destroyed by Hurricane Katrina.
The historic rehabilitation was financed through a blend of federal Low-Income Housing Tax Credits, Section 48 energy credits, and both Federal and State Historic Tax Credits.
The development represents the efforts of Lincoln Avenue Communities, Boston Financial, and Capital One to preserve, improve, and increase affordable housing opportunities in New Orleans, Louisiana.
