Developers HRI Communities and New Orleans Restoration Properties have commenced construction on the Esplanade Delille Apartments. The groundbreaking took place on March 20, 2026, at 1141 Esplanade Ave. in the Seventh Ward. This mixed-income project is backed by city loans, tax credits, and financing from First Horizon Bank.
The development will feature 50 residential units spread across three buildings, with 37 units designated as affordable housing. The project also includes ground-floor retail space, transforming a long-vacant site near the Tremé and French Quarter neighborhoods.
The financing for Esplanade Delille Apartments involves a $6.5 million loan from the City of New Orleans and a $500,000 subordinate loan from the New Orleans Redevelopment Authority. Additional support comes from Low-Income Housing Tax Credits provided by the Louisiana Housing Corporation, with First Horizon Bank participating as both lender and tax-credit investor.
Landis Construction serves as the general contractor, focusing on sustainability with the intention of meeting Enterprise Green Communities and FORTIFIED Multifamily Gold standards. The overall construction project holds an estimated permit value of $12.42 million.
This initiative represents a concrete step in addressing New Orleans’ affordable housing needs, with completion envisioned by early spring 2027. The project not only revitalizes a city-owned parcel but establishes a template for future mixed-income developments in the area.
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