Renovation begins on long-blighted Touro Shakspeare Home
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Once renovated, the Touro-Shakspeare Home will include 52 units for affordable senior housing in Algiers. Photo: Chelsea Brasted/Axios
Construction is officially underway at the long-blighted Touro Shakspeare Home in Algiers as the city-owned property transforms once again into affordable housing for New Orleans' elderly.
Why it matters: Empty and crumbling since Hurricane Katrina, the project signals reinvestment in the West Bank neighborhood where the home sits. "The city of New Orleans hasn't forgotten about you," Councilman Freddie King said.
The latest: New Orleans officials and business leaders officially broke ground Thursday, kicking off a year's worth of construction.
- The renovation will transform the historic site into a 52-unit senior apartment community, according to developer HRI Communities.
Flashback: The Touro Shakspeare Home was built in 1933 as an almshouse for the elderly and funded by early New Orleans philanthropist Judah Touro's estate.
- By Hurricane Katrina in 2005, it housed about 120 residents, but none of them moved back in after the storm damaged the property.
- Dormant since then, the building suffered vandalism and ongoing damage that resulted in a partial collapse of its second floor.
Follow the money: HRI secured a 99-year ground lease for the Touro-Shakspeare Home from the city in December 2021, and the redevelopment is financed through a mix of local and federal tax credits, bonds and disaster recovery loans.