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Freret Street Project Will Deliver Grocery, Affordable Housing and New Condo Model

By Green Coast on 4 Sep 2018

Rendering of 4528 Freret Project
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Rendering of 4528 Freret Project

A walkable community needs a grocery and available housing. The community has longed for a grocery store on Freret Street for years, and a new mixed-use proposal will deliver that along with office space for nonprofits, affordable and reasonably priced condos. Neighborhood Housing Services (NHS) owns the property at 4528 Freret Street, and is partnering with Green Coast on the project.

NHS has been part of the Freret community for many years and we see the value of helping other nonprofits continue to operate in this neighborhood,” says NHS Executive Director Amy Batiste. “Part of what this project achieves is producing a funding stream, allowing us to reduce the rental cost for nonprofits.”

Originally constructed in the 1920s, the currently shuttered two-story building formerly housed a Canal Villere grocery store. The new store will occupy the entirety of the first floor with nonprofits taking office space on the second floor. Another part of the project includes the construction of a building above the adjacent parking lot, and will feature 24, one and two bedroom condos.

Earlier this year, NHS invited developers to submit proposals for the property, because they wanted to ensure any project would fall in line with organization’s mission that includes a commitment to affordable housing. NHS required at least 20 percent of the dwellings be affordably priced, and under the Green Coast plan, nearly a third of condos will be affordably priced for those residents that earn up to 80 percent of the average median income (AMI).

Part of Green Coast’s mission focuses on people and planet. The two biggest costs for condo owners are energy and insurance, and the Freret project will have solar panels to generate enough energy for both buildings and the condo building will be constructed above the building code, which will lower insurance costs.

“Another reason we decided to partner with Green Coast was their plan to level energy costs and lower insurance costs,” says Brown Marks, NHS Board Co-chair. “It means we can offer reasonably price condo units in a high growth area like Freret.”

Green Coast’s Will Bradshaw sees the project as a model for future development in the city.

“With the affordable units, longtime residents who have been displaced by rising housing prices have an opportunity to return to their neighborhood,” Bradshaw says. “Plus, stabilizing energy and insurance costs is something that can replicated throughout New Orleans.”

Green Coast and NHS are seeking city approval for the project and hope to begin construction next spring.

Categories: Development

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