Redevelopment begins at blighted Bywater naval property
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City, state and business officials celebrate the redevelopment of the long-blighted former naval facility in the Bywater last week. Photo: Courtesy of GNO Inc.
Work is officially underway on the redevelopment of one of New Orleans' largest and most notorious blighted properties.
Why it matters: Once complete, the former Naval Support Activity East Bank in the Bywater will offer a mix of 294 affordable housing units, retail space and a new startup incubator.
The big picture: The ambitious project "will transform the neighborhood and the city," GNO Inc. CEO Michael Hecht said at last week's groundbreaking.
- A decade in the making, the development blends public and private funding sources and "represents the largest affordable housing development in Louisiana history," a GNO Inc. press release says.
Zoom in: Lincoln Avenue Communities is leading the housing component, NSA East Bank Apartments, with a $197 million investment, the release says.
- It'll include about 30,000 square feet of ground-floor retail plus one-, two- and three-bedroom housing units for residents and families earning between 20% and 60% of the local median income.
- NewLab, the startup incubator tenant, announced its plans last summer to develop maritime- and energy-focused "industrial scale-up spaces" that'll allow startups to build and test out new technology onsite. Its footprint will be about 30,000 square feet.
Catch up quick: The 20-acre property's first buildings were constructed for the U.S. Army in 1919, GNO Inc. says, and its use as a military logistics and maritime hub evolved over the following decades.
- The site was already slated for closure when Hurricane Katrina struck in 2005, the Preservation Resource Center says.
- The Navy officially closed it in 2009 before transferring ownership to the city four years later.
What's next: The project will open in phases, GNO Inc. says, with NewLab set to open this year.