HRI Properties

We were honored to join community leaders, residents, and partners in Lake Charles this past week for a special celebration marking two meaningful milestones for the Mid City Choice Neighborhoods Transformation Plan. At the ribbon cutting ceremony for Mid City Lofts, we officially welcomed completion of Mid City Lofts, a 46 unit mixed income community built on the former Lloyd Oaks site. Mid City Lofts represents much more than new housing. It’s an early sign of progress, resiliency, and opportunity for families returning home. We also celebrated the groundbreaking of the next phase of construction, launching critical infrastructure improvements across the 38 acre site that will support future housing and community development. This achievement would not be possible without collaboration, and we are grateful for the leadership and partnership of: • Mayor Marshall Simien and the City of Lake Charles • The Community Foundation of Southwest Louisiana and the generous support from Angela and David Filo • U.S. Department of Housing and Urban Development through the HUD Choice Neighborhoods Implementation Grant • Louisiana Office of Community Development - Disaster Recovery (LOCD-DR) • Louisiana Housing Corporation • Lake Charles Housing Authority • Calcasieu Parish Police Jury • Visit Lake Charles- Louisiana's Playground • First Horizon Bank/ First Horizon Community Investment Group • Urban Strategies, Inc …and all of the elected officials, community leaders, and residents who joined us in celebrating this progress. Projects like Mid City Lofts remind us why community-focused development matters. When we work together across sectors and with shared purpose, we can create places where people can thrive, build stability, and be part of a stronger future. We’re energized by what’s ahead and proud to continue working alongside our partners to build a more connected, resilient, and inclusive Lake Charles.

We’re proud to mark an important milestone for affordable housing and historic preservation in New Orleans. Yesterday, we celebrated with a groundbreaking ceremony as renovation officially began on the long-vacant Touro Shakspeare Home in Algiers — a landmark that has stood largely unused since Hurricane Katrina. This $26 million redevelopment by HRI Communities will transform the historic former almshouse into 52 affordable apartments for low-income seniors, thoughtfully honoring both the building’s architectural legacy and its original mission of care and service. As highlighted by FOX 8 and New Orleans CityBusiness, the project also includes restored community spaces, open green areas, and a reimagined chapel designed to once again serve as a place of connection. This milestone reflects years of collaboration with the City of New Orleans, community partners, and housing advocates who helped bring this vision to life. We’re honored to help turn a long-standing symbol of resilience into a place residents can once again call home. Read more: FOX 8 Defenders: https://lnkd.in/gS6hGQAn New Orleans CityBusiness: https://lnkd.in/gcPfXysN

Great news, HRI Communities just closed on the Touro Shakspeare redevelopment in the Algiers Neighborhood of New Orleans. The closing on the renovation financing enables the start of full redevelopment work that will transform the 72,000-square-foot building into 52 affordable one-bedroom apartments for low-income seniors, fulfilling the original philanthropic intents of benefactors Judah Touro and former Mayor Joseph Shakspeare.  This historic building was constructed in 1933 and operated as an almshouse and senior care facility until Hurricane Katrina forced the evacuation of all 120 residents in 2005. Since then, the building’s vacancy and deterioration, including significant structural failure, required extensive stabilization and remediation before renovation could safely proceed. Stabilization work, which was completed in September of this year with Landis Construction, was funded by a $6 million subordinate loan from the City of New Orleans and addressed critical life-safety and structural issues, including asbestos abatement, selective demolition, roof installation, structural bracing, and removal of severely compromised building elements. The Project is financed through a complicated structure combining: • 4% Low Income Housing Tax Credits (LIHTCs) through the Louisiana Housing Corporation (“LHC”), which resulted in equity investment proceeds by First Horizon Bank the Project’s Investor Member; • Privately placed tax-exempt bond debt issued by the Louisiana Housing Corporation and purchased by Boston Capital Finance; • Federal and State Historic Tax Credits, being purchased by First Horizon Bank and Stonehenge Capital, respectfully; • PRIME-3 CDBG-DR loan from LHC and the Louisiana Office of Community Development • City of New Orleans subordinate debt that supported the stabilization work. With structural stabilization completed and the renovation financing secured, we will now be immediately proceeding with Landis Construction to convert the historic building into a modern, resilient, senior housing community. THANK YOU to all the partners that helped get us to this launch point!

We are thrilled to announce that we achieved substantial completion on Mid-City Lofts, a new 46-unit mixed-income residential community that represents the first housing phase within the broader Mid-City Choice Neighborhoods Transformation Plan in Lake Charles, LA. Having begun construction in September of last year, the development has obtained an official Certificate of Occupancy and is now preparing to welcome its first residents in early November. Mid-City Lofts is designed for certification under the Enterprise Green Communities and FORTIFIED Multifamily Gold standards for sustainability and resiliency, including enhanced structural engineering. An official Grand Opening and Ribbon Cutting ceremony will take place in January 2026, providing an opportunity for new residents to celebrate alongside partners and community leaders. Here is a good article on the completion milestone: https://lnkd.in/gV3pq5gk

Your career deserves the perfect address! HRI Management is seeking skilled professionals to join our thriving team and build a career you can call home, too. We invite you to explore new career opportunities: 🏠 Property Manager, Lee Hardware and United Jewelers, Shreveport, LA 🏠 Regional Property Manager, Mid-City Lofts, Lake Charles, LA 🏠 Property Manager, Mid-City Lofts, Lake Charles, LA 🏠 Engineering Supervisor, Bienville Basin, New Orleans, LA To apply, please visit https://lnkd.in/g-muxHjw

Your career deserves the perfect address! HRI Management is seeking skilled professionals to join our thriving team and build a career you can call home, too. We invite you to explore new career opportunities: 🏠 Property Manager, Lee Hardware and United Jewelers, Shreveport, LA 🏠 Regional Property Manager, Mid-City Lofts, Lake Charles, LA 🏠 Property Manager, Mid-City Lofts, Lake Charles, LA 🏠 Engineering Supervisor, Bienville Basin, New Orleans, LA To apply, please visit https://lnkd.in/g-muxHjw

Yesterday our team at HRI Communities had the opportunity to tour the historic Touro Shakspeare site alongside our partners at Landis Construction and the City of New Orleans. Together we’re breathing new life into this long vacant building, one of New Orleans’ architectural gems, and transforming it into something the community can be proud of once again. From restoration challenges to the excitement of future possibilities, walking through the site reminded us why we do what we do to preserve the past while building for the future. Big thanks to the Landis team and all involved for your continued collaboration and commitment. We can’t wait to share more as the project progresses! #HRICommunities #TouroShakspeare #PreservationInProgress #NewOrleansDevelopment #CommunityDriven