NEW ORLEANS (press release) — North Carolina-based Liberty Senior Living has announced plans to develop a new senior living community in the historic Carrollton Courthouse at 701 S. Carrollton Avenue. The community will be developed by Liberty Senior Living and Felicity Property Co.
The storied Greek revival courthouse, designed by noted 19th century architect Henry Howard and opened in 1855, is being meticulously renovated and expanded to provide 73 assisted living and 20 memory care private units for New Orleans’ growing population of seniors.
“Liberty Senior Living is excited to work with Felicity Partners in developing, renovating and repurposing the Carrollton Courthouse. Having our good friends at Live Oak Bank as our lender makes this project even more rewarding,” says Liberty Senior Living President, Will Purvis. “We are proud of our organization’s 145-year history of providing high quality health care services and our growth across the Southeast. With this expansion into the New Orleans marketplace, we look forward to providing these services to a growing population of older adults. Being able to do so in such a historic building and location, with great partners, is a unique opportunity for Liberty.”
“We are honored to be part of the redevelopment and historic restoration of the Carrollton Courthouse,” says Patrick Schindler, Felicity Property Co. “The Courthouse has served the community in numerous forms throughout its more than 160-year life and we are excited to invest the time, energy and capital to see this classic building brought back to use. Our project includes community engagement efforts with the Ben Franklin alumni association to maintain a connection with the Carrollton Courthouse. The project ownership group is also providing capital funding for the construction of a schoolhouse at the Music Box village, which will include salvaged materials from one of the early 19th century buildings on the property.”
“Live Oak Bank is proud to provide construction financing for Carrollton Courthouse, a project sponsored by a partnership formed between industry leaders Liberty Senior Living, based less than a mile from Live Oak Bank’s headquarters in Wilmington, NC, and Felicity Property Co, a leading New Orleans based boutique development firm,” says Live Oak’s Head of Senior Housing Adam Sherman. “Live Oak is excited to support the preservation of this historical landmark and to provide vital capital to those dedicated to serving seniors in the City of New Orleans.”
Liberty Senior Living is a division of Liberty Healthcare Group that specializes in senior living and retirement communities. Based in North Carolina and established in 1875, Liberty Healthcare Group is an experienced, family-owned company that has been assisting people to manage their healthcare and residential needs for over 145 years.
Felicity Property Co invests economic and creative capital in historic redevelopment and urban infill projects in New Orleans. Project types include commercial and multifamily properties located in the Garden District, French Quarter, Warehouse District and Uptown neighborhoods.
Live Oak Bank is a digital, cloud-based bank serving small business owners in all 50 states. They are the leading SBA and USDA lender by dollar volume* in the country and their mission is to be America’s small business bank. Live Oak aims to fulfill that mission through banking products savings CDs that help business owners buy, build and expand, along with FDIC-insured high-yield and to grow their hard-earned money. Their family of companies under the holding and parent company Live Oak Bancshares (Nasdaq:LOB), and their subsidiaries, partner with businesses who share a groundbreaking focus on service and technology to redefine banking.
