SHREVEPORT, La. – New Orleans-based HRI Communities announced today that it has closed on the financing for the Lee Hardware and United Jewelers Apartments at 719 Edwards Street and 301 Crocket Street and is set to immediately move forward with construction. HRI said it will rehabilitate and modernize the historic apartment buildings, which were originally acquired and redeveloped in 1999.
“HRI Communities is honored to acquire the first warehouse buildings that were converted into apartments in historic downtown Shreveport almost 22 years ago. It is a privilege to be able to immediately begin renovations, which include comprehensive upgrades to the apartments and common areas raising the entire property to a first-class standard. Current and future residents of the apartments will be thrilled with the improvements we have planned for their homes,” said HRI Communities president Josh Collen.
Built in 1909, the Lee Hardware building, which previously housed the Lee Dry Goods business, was converted into 55 affordable loft-style apartments. The United Jewelers building, built in 1926, was converted into 51 market-rate apartments. Additionally, a pool, pool house and three townhouses were constructed to further complement the buildings.
HRI’s plans include renovations to the buildings’ exterior facades, roofs, HVAC systems, interior unit kitchen and bathrooms upgrades, and landscaping/pool improvements. The project includes a combination of workforce and market-rate housing units. All current residents will have the option to remain at the property throughout the renovation with temporary on-site relocation between buildings to accommodate construction.
