Residential Development

NORA is committed to the development of residential neighborhoods to ensure that New Orleans remains a desirable and vibrant place to live for residents of all income levels. By providing financing and/or land, we partner with housing developers – both non-profit and for-profit – to build attractive, energy efficient homes in underinvested neighborhoods.

NORA regularly partners with the State of Louisiana, the City of New Orleans, and the Housing Authority of New Orleans to maximize various financial resources in order to pursue creative housing programs that have in the past supported Developers, home buyers, small rental land lords and renters.

Examples of our work include our successful Neighborhood Stabilization Program (NSP2), which created over 425 units of affordable housing for local residents. And we continue to contribute many of our properties for affordable housing development in neighborhoods across the city.

These residential development investments have a direct, positive impact on the quality of neighborhoods and on the quality of life for the new residents of these homes.

To learn more about NORA’s Affordable Housing Programs, please contact This email address is being protected from spambots. You need JavaScript enabled to view it., Project Manager.

To learn more about homes currently for sale through NORA and our partners click here.

Market Rate

Auctions

NORA supports the development of market rate housing opportunities through auctions. NORA has disposed of more than 2,100 properties via auction to date. NORA utilizes the Market Value Analysis and collects Expressions of Interest from the community to determine which properties should be included in the auction. The minimum bid price is $4,000. Buyers are required to build housing on the properties within one year unless they are an adjacent neighbor and elect to keep the property as greenspace.

Status of Auction Sales

Completed Projects

132 Middlepark

827 Voisin

901-03 Lizardi

1219 Touro

1363 Burbank

1923 S Lopez

2146 N Dorgenois

2208 St Ann

2532 Pauger

2543 Orleans

4912 Burgundy

4611 S Derbigny

5754 E Louis Prima

5827 Pratt

5861 Louisville

6450 Marshall Foch

6721 Dorchester

6756 Orleans

6848 Orleans

7310 Hanover

4216 N Rampart - before

4216 N Rampart - after

Affordable Homeownership and Rental

NORA has sold nearly 1,000 properties in support of affordable housing development across the city. NORA analyzes the Market Value Analysis and public sector funding scoring criteria, including Louisiana Housing Corporation Low Income Housing Tax Credits Qualified Allocation Plans and City of New Orleans Notices of Funding Availability, to select properties to make available through a Request for Proposals process. Property clusters are chosen to maximize collective redevelopment impact on the community. The properties are made available to developers at a discount, typically 10% of the appraised value, in exchange for the development of affordable housing. In addition to property, NORA may also offer construction financing, and project and homebuyer subsidy, when available.

Available Units

Open Solicitations