NEW ORLEANS (press release) – New Orleans Restoration Properties (NORP), a fourth-generation Black-owned development company, broke ground on Grove Place II, which will bring 36 affordable homes to the city’s Hollygrove neighborhood. Public officials, partners, and funders gathered to mark the launch of the project, which includes the restoration of historic homes and the construction of new, sustainable housing units.
The event took place at the childhood home of NORP Principals and siblings Marseah and Paul Irons, one of the properties slated for historic renovation.
Expecting completion in 2026, the $19 million Grove Place II development builds on the momentum of Grove Place I, which opened last year, and deepens NORP’s commitment to sustainable, community-driven revitalization. The project will deliver doubles, duplexes, fourplexes, and single-family residences spread across 14 property tracts, all located within the boundaries of the City of New Orleans’ 2022–2026 Consolidated Plan.
“We’re not just breaking ground on Grove Place II — we’re building on a legacy of resilience, equity, and community-rooted progress,” said Mayor LaToya Cantrell. “Affordable housing is the foundation for thriving families and neighborhoods, and developments like this are proof that when we invest intentionally, we create real change. I’m proud to stand with New Orleans Restoration Properties, a fourth-generation Black-owned business, as they help restore and reimagine the Hollygrove neighborhood — a place rich in history, heart, and hope. This project is more than homes; it’s a testament to what’s possible when we empower those who know our communities best to lead the way forward.”
In addition to offering affordable rents for households earning between 20% and 80% of the area median income, Grove Place II is advancing economic equity in Hollygrove throughout its construction and operation phases, said Developer Paul Irons. The project will generate 70 full-time construction jobs, create two permanent positions: property management and maintenance, and is committed to inclusive hiring through Section 3 requirements, he said. Led by a collaborative of DBE-certified Landis Construction and NORP Construction, a New Orleans Restoration Properties subsidiary company, the development also aims to achieve at least 35% participation from disadvantaged subcontractors, ensuring that local and minority-owned businesses share in the project’s economic benefits.
“Grove Place gave us a meaningful opportunity to invest in a neighborhood that’s been a cornerstone of our family’s history,” NORP Principal Irons said. “Our roots in Hollygrove run deep, stretching across generations, and we are thrilled to be standing in our childhood home that will be completely renovated. We’re incredibly proud to build on this momentum and continue the legacy with Phase II of Grove Place.”
The development is being financed through a strategic mix of public and private funding sources. A key component of this financing is a competitive 9% Low-Income Housing Tax Credit (LIHTC) award from the Louisiana Housing Corporation, which is being utilized to generate equity investments. In addition, the Louisiana Housing Corporation is providing four permanent supportive housing vouchers to assist in serving vulnerable populations within the community.
Enterprise Community Partners plays a pivotal role in the project’s financing structure. Through its Credit division, Enterprise is making significant investments in the Federal Historic Tax Credits, the Low-Income Housing Tax Credits, and the 45L New Energy Efficient Home Credit—nearly $15 million– demonstrating its broad commitment to advancing sustainable and affordable housing. Furthermore, the Enterprise Community Loan Fund is providing the construction loan, ensuring that the project is well-capitalized from the outset.
The State Historic Tax Credits are being purchased by Stonehenge Capital, bringing additional private equity into the project. To further support development, the City of New Orleans is contributing a $2 million HOME loan, which provides essential gap financing. Finance New Orleans is also backing the project through a property tax PILOT (Payment In Lieu of Taxes), highlighting the city’s strong commitment to expanding and preserving affordable housing options.
“The Louisiana Housing Corporation is excited to see the second phase of Grove Place,” said LHC Executive Director Kevin Delahoussaye. “We have already seen much progress from the first phase. The revitalization in older developments enhances property value, infrastructure, public spaces, and pride for longtime residents.”
Grove Place II is also supported through a partnership with Enterprise Community Loan Fund, which will deliver financial literacy programming to residents and the surrounding community, reinforcing the project’s commitment to holistic community development.
Grove Place II is designed by HCI Architecture to meet a unique combination of high-performance standards, including Enterprise Green Communities, FORTIFIED Gold for commercial construction, and the federal Secretary of the Interior’s Standards for Historic Preservation. This alignment may make it one of the first projects to satisfy all three criteria, advancing environmental sustainability, enhancing structural resilience, and preserving the site’s historic character.
“By restoring historic homes and constructing new ones to the highest sustainability standards, we are creating a foundation for a healthier and stronger neighborhood,” Enterprise VP and Gulf Coast Leader Michelle Whetten said. “Grove Place II represents the future of housing—where affordability meets opportunity. With supportive services and a focus on resilience, this community is built to uplift its residents well into the future.”
Hollygrove residents and local housing officials also commend NORP’s investment and the Irons family’s commitment in Grove Place.
“It’s a privilege to work in partnership with Paul Irons and Marseah Irons of New Orleans Restoration Properties,” said Housing Authority of New Orleans Executive Director Marjorianna Willman. “They are one of the few developers that have been able to deliver affordable units on schedule in spite of the turbulent marketplace. They have an amazing story which fuels their passion for restoring New Orleans.”
Earl Williams of the Hollygrove Neighbors Association agrees, crediting the Irons family’s ongoing support. “The efforts of New Orleans Restoration Properties to enhance the revitalization of Hollygrove is unprecedented and greatly appreciated,” Williams said. “The Irons family has a stellar history of investing in Hollygrove to provide high class affordable housing. We are indeed fortunate to enjoy the benefits of our partnership with them.”
About New Orleans Restoration Properties (NORP)
New Orleans Restoration Properties (NORP) is a full-service, minority-led real estate development firm dedicated to revitalizing communities through high-quality multifamily housing and mixed-use projects. With four generations of expertise in construction, property management, and finance, we focus on transforming neighborhoods and improving lives, especially for underserved populations. Our developments prioritize sustainability and resilience, incorporating Enterprise Green Communities and Fortified Building Practices. From affordable housing to market-rate and hospitality projects, we view real estate as a tool to foster community, create opportunity, and deliver meaningful results. At NORP, we don’t just build—we impact lives and aim to leave a lasting legacy in every city we touch. For more information, please visit our website at www.nolarp.com.
About Louisiana Housing Corporation
The purpose of the Louisiana Housing Corporation (LHC) is to substantially increase the availability of affordable, accessible, and safe residential housing in Louisiana. The LHC was created in 2011 when the Louisiana Legislature merged the Louisiana Housing Finance Agency with housing programs from other state agencies to streamline how the state would address its housing needs, avoid duplication of efforts, and improve service to the general public. The LHC administers federal and state funds through programs designed to advance the development of energy-efficient and affordable housing for low- and moderate-income families, drives housing policy for Louisiana, and oversees the state’s Disaster Housing Task Force.
About Enterprise Community Partners
Enterprise Community Partners is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $80.9 billion and created 1 million homes across all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands – all to make home and community places of pride, power and belonging. Join us at enterprisecommunity.org.
