St. Anna’s, a 40,000-square-foot former assisted living center, is set to be redeveloped into high-end apartments, reports Canal Street Beat. Real estate investor and developer Tom Winingder is expected to break ground in June on the 1823 Prytania St. project and wrap up construction in approximately 10 months.
Upon completion, the still-to-be-named apartment complex will feature 23 units, 14 of which will be two-bedroom apartments. Six one-bedroom units and three three-bedroom residences will also join the floor plan mix. Units will range between 900 and 1,600 square feet in size. An outdoor garden will be paved over for additional off-street parking, bringing the number of parking spaces to 39, or one parking space per bedroom. The Lower Garden District community will rent units at above-market rates.
Local firm Palmisano Contractors will handle construction, while Studio WTA is the designated architect. Although the entire cost of the redevelopment has yet to be made public, part of the necessary financing will be secured through state and federal historic tax credits, due to the structure’s historic building status. Built in 1853, it initially served as St. Anna’s Asylum for the Relief of Destitute Females and Their Helpless Children of All Religion.
According to Canal Street Beat, Tom Wingdinger bought the three-story former assisted living center in November 2013 for $3.7 million from Lambeth House, a senior citizen community. The latter, which assumed control of the asset in 2011, operated a supportive living facility at the Prytania Street property with assisted living, nursing and memory care services. It transferred those services to Saint Anna’s at Lambeth House, a new facility it opened in November 2013.
Click here for further New Orleans market data.
Image via Google Maps