NEW ORLEANS – Full construction has commenced at the historic Touro Shakspeare site in Algiers where HRI Communities (HRIC) is redeveloping the long-vacant former almshouse into 52 affordable apartments for low-income seniors.
Following the completion of critical stabilization work finalized in Sept. 2025 and the closing of all necessary financing in Dec., construction launched on Jan. 15 on the $26 million renovation that will fully rehabilitate the 72,000-square-foot historic structure. Once complete, the redevelopment will restore the building’s original mission of caring for New Orleans’ elderly residents while delivering modern, resilient housing designed to serve seniors for years to come.
“This moment represents years of perseverance and partnership,” said Josh Collen, President of HRI Communities. “With stabilization behind us, we are proud to officially begin the transformation of TouroShakspeare into high-quality, affordable homes that honor the legacy of this historic site and serve the community it was always meant to support.”
“Revitalizing the historic Touro Shakspeare site reflects New Orleans’ commitment to honoring our past while investing in our future,” said Jenny Mains, Deputy Mayor of New Orleans. “By preserving this important landmark and transforming it into resilient, affordable senior housing, we are strengthening neighborhoods and creating lasting stability for generations to come.”
A Once-Blighted Landmark Gets Renovation
Constructed in 1933 to replace an earlier Uptown campus, the Touro Shakspeare Home operated as an almshouse and senior care facility until Hurricane Katrina forced the evacuation of all 120 residents in 2005. Years of vacancy and deterioration followed, including severe structural damage that required extensive mitigation before renovation could safely proceed.
The City-funded stabilization phase addressed major life-safety and structural concerns, including asbestos abatement, selective demolition, roof installation, and structural bracing. With that work complete, the renovation phase now begins the full adaptive reuse of the historic structure.
“The 52-unit Touro Shakspeare senior affordable housing community strengthens the tapestry of New Orleans by ensuring that elders—who have built and sustained this city—can age with dignity, security, and connection in the neighborhoods they call home,” said Councilmember King. “By providing high-quality, affordable homes for seniors on fixed incomes, Touro Shakspeare directly addresses the city’s affordability needs while reinforcing housing stability as a core community value. This development is one essential part of a broader commitment to meeting housing needs across generations, alongside initiatives that expand long-term stability through pathways to homeownership and wealth-building opportunities. Together, these efforts affirm that safe, affordable housing—and the opportunity to put down lasting roots—must remain a priority in New Orleans.”
“For nearly two decades, the Touro Shakspeare building stood as both an irreplaceable historic landmark and a reminder of the long road to recovery after Hurricane Katrina,” said Gina Campo. “Today marks a true turning point, moving from stabilization to full renovation and renewal. Through a $5 million PRIME-3 CDBG-DR loan, Louisiana Office of Community Development (OCD) is proud to help move this project from vision to reality, ensuring disaster recovery investments deliver lasting community benefit, particularly for low-income seniors.”
“The Housing Authority of New Orleans (HANO) is proud of its partnership in the redevelopment of TouroShakspeare,” stated Marjorianna Willman. “This project represents a significant step in our ongoing commitment to ensuring that seniors in New Orleans have access to safe, stable, and dignified housing. By improving the living conditions within this community, we aim not only to support our elderly residents but also to enhance the overall vitality of the neighborhoods we serve.”
“Revitalizing abandoned properties into quality affordable housing is a necessary component of the work we do at the Louisiana Housing Corporation,” said Brenda Evans. “Touro Shakspeare reflects the strength of our collaboration, and as we break ground today, we move toward a new era that will bring progress to the Algiers community. As a state entity, LHC is a catalyst, a coordinator, and a trusted partner in projects like TouroShakspeare, and we appreciate HRI Communities for including us in this project.”
Touro Shakspeare Project Overview and Community Impact
Upon completion, the Touro Shakspeare redevelopment will include:
- 52 one-bedroom apartments reserved for residents aged 62 and older earning no more than 50% of Area Median Income
- Restoration of the building’s historic chapel as a shared community room
- Open-air courtyards, refurbished fountains, and landscaped green space
- New building systems, elevators, windows, and energy-efficient upgrades
- Comprehensive resiliency features, including a FORTIFIED roof, storm-rated windows and doors, backup power, and flood-hardy construction designed in alignment with FEMA, HUD, LHC, OCD, and Enterprise Green Communities best practices
All units will remain deeply affordable under a 99-year ground lease with the City of New Orleans, with rents capped at 30% of resident income. The development will also include project-based Section 8 voucher assistance through the Housing Authority of New Orleans.
Preserving History While Building for the Future
The renovation of Touro Shakspeare fulfills the original philanthropic vision of benefactors Judah Touro and former Mayor Joseph Shakspeare, who championed the establishment of the almshouse in the late 19th century. The project demonstrates how historic preservation, and affordable housing can work hand in hand to meet urgent community needs.
“Boston Capital Finance is excited to be working with HRI Communities on this multifamily conduit bond,” said Ryan Harris, Underwriter at Boston Capital Finance. “Over the past 15 years, BCF has been fortunate to finance many of their developments. They are an outstanding partner, committed to delivering exceptional affordable housing, and continue to select BCF for its market knowledge, experienced team, and certainty of delivery.”
Landis Construction is serving as Design-Build Contractor for the renovation, with HCI Architecture as Architect of Record. Full project completion is anticipated in early 2027.
“Landis is thrilled to be underway with the rehabilitation of the Touro-Shakspeare Home,” said Anne Teague Landis, Chief Executive Officer of Landis Construction. “We have been a committed partner with HRI and HCI on this project for nearly 5 years and are proud to be putting this building back into service for the community of Algiers.”
