FRANKLIN — A former hospital that has sat empty for nearly two decades is getting a second life as affordable housing for seniors.

New Orleans Restoration Properties, LLC (NORP) and Renaissance Neighborhood Development Corporation (RNDC) broke ground on The Avenue, a $37 million project that will turn the former Franklin Foundation Hospital into 72 affordable apartments for people 55 and older.

The building, originally constructed in 1951, served as Franklin Foundation Hospital for decades before closing in 2008. Many St. Mary Parish families remember it as the place where their children were born.

All 72 units will be affordable, serving seniors earning between 30% and 80% of the area median income. The project will also include units designed for residents with developmental and physical disabilities as well as veterans.

"The Avenue is about giving an important part of Franklin's history a new purpose," said Paul Irons, Managing Member of New Orleans Restoration Properties, LLC. "For generations, this building cared for families in this community. Now, together with RNDC, we're transforming it into a place that will provide seniors with safe, affordable housing and a true sense of home."

RNDC Executive Director Vanessa Levine said the project fills a real need.

"RNDC is proud to have the opportunity to partner on this much-needed development for older adults in St. Mary Parish who deserve a safe, quality place to call home," Levine said.

The Louisiana Housing Corporation (LHC) awarded more than $15 million through the Low-Income Housing Tax Credit Program. An additional $5.8 million came through Community Development Block Grant funds secured with help from the Louisiana Office of Community Development.

"The Avenue represents an important investment in St. Mary Parish, transforming the former Franklin Foundation Hospital into much-needed affordable housing for seniors," said LHC Executive Director Kevin Delahoussaye.

Other financing includes tax-exempt bond financing, Federal and State Historic Tax Credits, a construction loan from Home Bank and grants from the Federal Home Loan Bank of Dallas and Federal Home Loan Bank of Atlanta.

HCI Architecture is serving as architect of record, with RNGD Builders and NORP Construction, LLC as builder and contractor. HRI Management will serve as property manager once the project is complete.