NEW ORLEANS, LA—An infamous abandoned site at the corner of Dauphine Street and Poland Avenue has received the much-anticipated federal funding needed to start its redevelopment. The Bywater’s old Naval Base now has $20 million in federal funds from the Louisiana Housing Corporation for its transformation.
Residents are cautiously optimistic about the future of the deteriorated area known for crime, graffiti, and blighted buildings.
“People know it as Thunderdoom,” said John Guarnieri, president of the Bywater Neighborhood Association. “It’s been a nightmare for those living nearby. They’ve caused a lot of damage inside, so having funds will help start cleanup.”
This federal grant is intended to increase housing affordability in storm-prone areas like Laura, Delta, and Ida. The naval base is among the chosen sites for this purpose.
“I see this as vital support. Without these funds, it would be hard to lift anything off the ground,” Guarnieri added.
The city council approved the developer Ike Joe Jaeger’s vision for converting the complex to mixed-income housing.
Guarnieri noted the site’s dilapidated state and the urgent need for cleanup.
The project relies on an additional $138.5 million in financing: $28 million from low-interest loans, $48 million in state low-income housing tax credits, $54 million in federal tax credits, and $8
