Case Study: HRI Communities

Blue Plate Artist Lofts

Location
New Orleans, LA
Type
Artist Housing
Year
2011
Size
95,444 SF
Units
72

HRI Communities' revitalization of the Blue Plate Factory -- home to one of the nation's first commercially-prepared mayonnaises -- restored life into a blighted historic building and created a high-quality residential community with a leasing preference for local artists.

Located at South Jefferson Davis Parkway and Earhart Boulevard, the restored building — originally constructed in 1941 as Blue Plate’s food processing facility — features 72 loft-style apartments with a leasing preference to mixed-income local artists. Amenities include a community room, fitness center, rehearsal room, outdoor courtyard, rooftop deck, 104 off-street parking spaces and “green building” features that offer energy efficient and environmentally friendly building amenities.

The development was done in joint venture partnership with JCH Development, utilizing a mixture of federal and state historic tax credits, federal low income tax credits, tax-exempt bond financing, State of Louisiana CDBG monies through its “Piggyback” financing program, as well as a HOME loan from the City of New Orleans and a property tax abatement through the State’s Restoration Tax Abatement Program.