Lincoln Avenue Communities Hosts Grand Reopening Ceremony at Historic Tivoli Place in New Orleans

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NEW ORLEANS, March 25, 2025 /PRNewswire/ — Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, hosted a grand reopening ceremony Thursday at Tivoli Place Apartments, marking the completion of an extensive $35 million rehabilitation of the historic property. Tivoli Place provides 163 units of affordable housing for seniors earning no more than 20-60% of the Area Media Income, and the property’s 8 total 20% AMI units are set aside for Special Needs Households.

Tivoli Place is LAC’s first rehabilitation using Historic Tax Credits and its first in the state of Louisiana. LAC’s investment of more than $35 million brought significant upgrades to the century-old building while preserving its historic structure and ensuring it remains designated senior affordable housing.

“Lincoln Avenue Communities is excited to celebrate the reopening of Tivoli Place Apartments,” said David Garcia, LAC Vice President and Regional Project Partner. “This historic rehabilitation ensures access to high-quality affordable housing for seniors in New Orleans and provides residents with new resources and essential services.”

Garcia was joined at the ceremony by representatives from the City of New Orleans and local organizations and businesses including Chase, Stonehenge, Huntington Bank, Finance New Orleans, the Louisiana Housing Corporation, Boston Financial, and Capital One.

“Capital One and Lincoln Avenue Communities have a successful track record of working together to help increase and preserve the supply of affordable housing – a factor in achieving greater economic success in New Orleans and beyond,” said Dan Miller, Capital Officer for Community Finance at Capital One. “Through a financing package that included a Low-Income Housing Tax Credit equity investment and HUD loan, Lincoln Avenue Communities upgraded this historic building and ensured it provides an affordable place to live for years to come.”

Improvements include new central heating and cooling, new plumbing, upgraded finishes, and raised ceiling heights in each unit. New community amenities include a media room, library, fitness center, dining room, bike storage, security upgrades, and health care exam room. LAC also improved the property’s sustainability and resilience by installing new fixtures to reduce the property’s water and power consumption as well as solar panels in the parking lots to offset electricity usage. Residents will have on-site access to preventive health care screenings, exercise classes, mentoring programs, transportation, disability counseling, and other social programs.

Built in 1917, Tivoli Place sits on historic St. Charles Avenue within the Warehouse District, which is part of the City’s Inclusionary Housing Zone designated as a high-cost-of-living area. The neighborhood is home to landmarks including the former city hall, the world’s oldest continually operating streetcar line, the Mississippi River and Caesar’s Superdome.

About LAC: Lincoln Avenue Communities (LAC) is one of the nation’s fastest-growing developers, investors, and operators of affordable and workforce housing, providing high-quality, sustainable homes for lower- and moderate-income individuals, seniors, and families nationwide. A subsidiary of Lincoln Avenue Capital, LAC is a mission-driven organization with a presence in 28 states and a portfolio of 170+ properties comprising 30,500+ units housing 80,000+ residents.