McCormack Baron Salazar and HANO Close on Winn Dixie Phase II Development in New Orleans

New 45-Unit Mixed-Income Development Advances Iberville/Tremé Redevelopment Plan

NEW ORLEANS, LA, UNITED STATES, June 16, 2025 /EINPresswire.com/ -- McCormack Baron Salazar (MBS), a leading national developer of mixed-income, mixed-use communities, announced the financial closing for Winn Dixie Phase II, a new mixed-income residential development, in partnership with the Housing Authority of New Orleans (HANO). The financial closing occurred on May 21, 2025, paving the way for construction to begin at 1431 St. Louis Street, the former Winn Dixie grocery store site adjacent to Bienville Basin Apartments.

Marketed as City Square 162 Phase II, the development is the final phase of the offsite component of the Iberville/Tremé Choice Neighborhood Initiative (CNI), funded by HUD and sponsored by HANO and the City of New Orleans. “We are excited to expand access to affordable housing in New Orleans with the Winn Dixie Phase II project,” said HANO Executive Director Marjorianna Willman. “City Square 162 has positively impacted the community by providing diverse housing opportunities. Together with our housing partners and the City of New Orleans, we are dedicated to investing in this historic neighborhood to cultivate a strong and thriving community.”

Winn Dixie Phase II will feature 45 residential units across a four-story, elevator-equipped building designed to complement Phase I and the adjacent Bienville Basin Apartments. The new development will offer approximately 49,800 square feet of residential space and a 675-square-foot community room, with a unit mix of:

• 21 one-bedroom units
• 24 two-bedroom units
• 10 market-rate units
• 35 affordable units across a range of income levels

Thirty of the units will serve as CNI replacement housing for residents of the former Iberville public housing site. The project emphasizes accessibility and inclusion, with 14 units (30%) designed for disabled households, and a distribution of affordability levels targeting families earning up to 60% of Area Median Income (AMI).

Residents will also benefit from a community space with supportive services, a computer center, and mail facilities. Winn Dixie Phase II will be Enterprise Green Communities (EGC) Certified and built to the IBHS FORTIFIED Multifamily Gold Standard, featuring Energy Star appliances, HVAC systems, internet/cable access, and a backup generator.

Outdoor amenities will include a landscaped courtyard, seating, security features, and off-street parking. Residents will also have access to Phase I amenities such as a fitness center, rooftop patio, and the Greenway along North Villere Street that connects to the Lafitte Greenway.

“This milestone reflects a continued commitment to equitable, sustainable redevelopment in the City of New Orleans,” said Vincent R. Bennett, CEO and President at McCormack Baron Salazar. “City Square 162 Phase II builds on the progress of Bienville Basin and ensures that New Orleans families of all income levels have access to high-quality housing and community resources.”

Winn Dixie Phase I, completed in 2021, features 76 mixed-income units and robust resident amenities, located at 1501 St. Louis Street. Together, the two phases contribute significantly to the broader Iberville CNI vision to replace and expand affordable housing in the historic Tremé area.

Construction will take place on land ground-leased from HANO to WD Phase II, LP. HCI Architecture of New Orleans is serving as project architect, and HRI Management, Inc. will manage the property upon completion.

The total development cost is $26 million, financed through a combination of:

• FY2024 Low-Income Housing Tax Credit (LIHTC) equity from U.S. Bancorp Impact Finance (USB)
• 45L Tax Credits (also purchased by USB)
• CDBG-DR funding from the Louisiana Housing Corporation
• HOME funds from the City of New Orleans
• HANO CNI funding
• Payment In Lieu of Taxes (PILOT) from the Industrial Development Board of New Orleans

About McCormack Baron Salazar:
For over 50 years, MBS has worked in partnership with cities across the country to create
housing options, redevelop neighborhoods and prioritize the well-being of current and future
residents. The core strategy of MBS is to build high-quality rental housing that can serve as a
platform to support and stabilize communities.

Stephanie Tolson
McCormack Baron Salazar
+ +1 314-621-3400
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