News Summary
Fairmont Tower in downtown Shreveport has officially reopened after a $20 million renovation, transforming it into 254 affordable rental units. The renovation aims to address the city’s shortage of affordable housing, providing studios, one-bedroom, and two-bedroom apartments with rents starting at $590 per month. Shreveport Mayor Tom Arceneaux highlighted the importance of the project amidst a significant need for affordable options in the area. With an occupancy rate of 50-60%, the new units are expected to fill quickly.
Shreveport’s Fairmont Tower Reopens After Major Renovation
Shreveport, Louisiana – Fairmont Tower, a landmark building in downtown Shreveport, reopened on May 6, 2025, after a $20 million renovation aimed at providing affordable housing for residents. The project, completed by Midland Capital Partners LLC, revitalizes a site that has been part of the city’s skyline since 1952.
The renovation transformed the Fairmont Tower into 254 rental units, which include studio, one-bedroom, and two-bedroom apartments. Rent for these units begins at $590 per month and comes inclusive of utilities and parking. The apartments are specifically targeted at individuals earning 20%, 30%, or 80% of the area median income, with designated units for lower-income residents with disabilities.
Shreveport Mayor Tom Arceneaux attended the grand reopening, highlighting the critical importance of the Fairmont Tower project amid a significant affordable housing shortage in the city, which currently stands at approximately 20,000 units. The mayor acknowledged recent losses in the rental market, particularly the closure of larger apartment complexes that previously provided low-rent options.
National statistics point to a troubling trend, with only 42 out of 100 extremely low-income families in Louisiana having access to affordable housing. This statistic underscores the pressing need for solutions, as over 184,000 households in Louisiana are demanding affordable housing, as reported by the National Low Income Housing Coalition.
Comprehensive Renovations and Modernizations
The renovation of Fairmont Tower encompassed significant upgrades to essential systems, including plumbing, electrical, heating and cooling, fire alarms, infrastructure, and elevators. In addition, new amenities were introduced, such as a fitness center and community cooking facilities. Each apartment also received enhancements such as new flooring, fresh paint, modern kitchens, and updated appliances.
Currently, the occupancy rate at Fairmont Tower is around 50% to 60%, with expectations that the remaining units will fill quickly as interest grows in affordable living options.
Challenges and Future Plans
Michael Packard, a representative for Midland Capital Partners, expressed concerns regarding potential changes to rental aid programs at the federal level, emphasizing how such changes could influence the availability of affordable housing options. In light of this, Packard is also exploring the acquisition and renovation of the Jefferson Apartments, located at 907 Louisiana Ave. in Shreveport.
Packard discussed the rising costs associated with housing development in Louisiana, particularly in relation to insurance and economic factors, which pose challenges to ongoing and future housing projects. Nonetheless, he reaffirmed a commitment to develop properties in the area, stating that it will depend on maintaining economic viability.
Historical Context
The Fairmont Tower has long been a feature of downtown Shreveport, standing as a testament to the city’s growth and evolution. Its recent renovation marks a vital step toward addressing the critical shortage of affordable housing in a region where demand far exceeds supply. The project not only breathes new life into an aging building but also aims to provide much-needed housing solutions to a community in need.
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Additional Resources
- Shreveport Times: Fairmont Reopens After Renovation
- Shreveport Times: Top Five Stories
- K945: Most Haunted Place in Shreveport
- Shreveport Times: Downtown Living Options
- News Star: Historic Louisiana Hotels
- Wikipedia: Affordable Housing
- Google Search: Affordable Housing Shreveport
- Google Scholar: Affordable Housing Louisiana
- Encyclopedia Britannica: Urban Planning
- Google News: Shreveport Housing
Author: STAFF HERE SHREVEPORT WRITER
The SHREVEPORT STAFF WRITER represents the experienced team at HEREShreveport.com, your go-to source for actionable local news and information in Shreveport, Caddo Parish, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Mudbug Madness Festival, Red River Revel Arts Festival, and Independence Bowl. Our coverage extends to key organizations like the Shreveport-Bossier Chamber of Commerce and Shreveport Regional Arts Council, plus leading businesses in gaming, healthcare, and energy that power the local economy such as Horseshoe Casino, Ochsner LSU Health, and Atmos Energy. As part of the broader HERE network, including HEREBatonRouge.com and HERENewOrleans.com, we provide comprehensive, credible insights into Louisiana's dynamic landscape.
