After staying vacant for a period of time, the site at the Naval Support Activity East Bank site in New Orleans has broken the ground for the transformation into a mixed-use district.
Housing is a key part of the initiative that will provide 294 affordable units in total. In fact, Lincoln Avenue Communities is pouring $197 million into this portion of the development, representing the largest investment in affordable housing on Louisiana's record. The affordable units, ranging from one to three bedrooms, will be set aside for those making between 20 and 60 percent of the area's median income.
The multi-phase project will also include 30,000 square feet of ground floor retail space, shared community spaces, a venture platform and deliver industrial innovation. A major innovation component of the development is Newlab New Orleans, a hub that helps industry partners and startups test, develop and scale technologies.
Brian Gibbs Development is leading the efforts on the redevelopment. Plus, private and public partners on the project include the City of New Orleans, Future Use of Energy in Louisiana, Louisiana State University, Greater New Orleans, Inc., Shell and Louisiana Economic Development.
“This groundbreaking marks an important step in putting long-idle public land back to work for New Orleans,” New Orleans Mayor Helena Moreno said in a statement.
“Through partnerships like Newlab New Orleans, we’re building on Louisiana’s strengths in energy, maritime, and industrial innovation to help local talent and businesses grow, while also delivering real community benefits, including much-needed affordable housing for the Bywater community.
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