By the numbers ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
On Wednesday, Sept. 30, The Rivana Apartments at the River District closed on financing, clearing the way for construction to begin!
Gibbs Construction will begin by fencing the site in the 1400 block of Tchoupitoulas St.. Construction is expected to be completed in two years.
What are some highlights of the new building? - When complete, the Rivana will be a four-story, $111 million development with 220 affordable homes along the riverfront
- 17,000 square feet of ground-floor retail
- A fitness center, community room and pool
Financing the Rivana brought together federal, state and city resources, marking one of the largest affordable housing developments in state. This would not have been possible without exceptional cooperation from every partner at the table.
The Rivana sets a precedent for this level of public-private collaboration in New Orleans and establishes a pathway for the growth that follows.
|
|
|
|
3 Questions on The Rivana Apartments
|
|
|
|
Q. What does "affordable" mean for The Rivana Apartments? Affordable housing is built around the financial needs of the community by basing rent on a resident’s income.
Q. Who qualifies to live there? Eligibility is based on Area Median Income (AMI). This is a figure that the U.S. Department of Housing and Urban Development (HUD) sets each year for each region. At The Rivana, residents that earn at or below 80% of the Area Median Income will qualify to live in one of the development's 220 units - all designated as affordable.
Q. How is rent set? Rents are determined by federal and local market metrics provided by HUD and differ for every resident based on resident income and the specific unit.
|
|
|
|
Progress Across the District
|
|
|
|
Progress is happening across the River District, and we are ready for a new phase of growth!
Below ground: About $33 million has gone into water lines, underground power, fiber optic cable, drainage and one of the largest stormwater retention tanks in Louisiana. Phase I infrastructure is on track for completion before the end of 2026. Shell Riverside: The first Class A office building in New Orleans since 1989 is nearing completion, with move-in anticipated in Spring/Summer 2027. New streets: Familiar Lower Garden District streets will extend into the district, opening six more parcels for future development. What's next: Our team is working with partners to determine the next areas of development focus, particularly along the riverfront.
|
|
|
|
Common Grounds. Uncommon Spaces.
|
|
|
|
|
|
|
|
