Providence Community Housing and the River District are partnering to construct The Rivana Apartments. The Rivana Apartments will be a new construction project consisting of 220 affordable rental housing units and 17,363 commercial rental space within the River District Neighborhood located near the Ernest N. Morial Convention Center.
The project is funded through Low-Income Housing Tax Credits, $16,575,871 CDBG funding from the Louisiana Housing Corporation. Additionally, the permanent and construction loan funding from Capital One. The Morial Convention Center is providing a $6,500,000 loan to the project as well as an infrastructure loan funding by the City of New Orleans in the amount of $6,253,652. The project secured a PILOT and Sales tax proceeds collected within the River District. The Housing Authority of New Orleans (HANO) is providing Project Based vouchers for 25% of the 220 units.
