Based in New Orleans, Louisiana, HRI Properties (HRI) is a full-service real estate development company and a national leader in the adaptive reuse of historic structures. HRI’s mission is:
Revitalizing Cities by Creating Diverse, Vibrant and Sustainable Communities
"The appeal of traditional downtowns – and the defining characteristic that sets those that are successful apart from their suburban competitors – is largely based on what can be summarized as walkable urbanity."
"Fostering such walkable urbanity is the key to the revival of any struggling downtown. But doing so can be a challenging process, requiring the development of a complex mix of retail boutiques, hotels, grocery stores, housing, offices, artists’ studios, restaurants, and entertainment venues. A critical mass of these pedestrian-scale uses must be established as quickly as possible, before the initial revitalization efforts stall for lack of support. This means making certain that visitors can find enough to do for 4 to 6 hours; that residents’ daily needs can be comfortably met; and that rents and sales prices continue to justify new construction or renovation."
"Ultimately reaching critical mass means that the redevelopment process is unstoppable and cannot be reversed. At that point, an upward spiral begins to create a "buzz," increases the number of people on the streets, raises land and property values, and creates more business opportunity which means more activity and people on the street, and so on. Simply put, in a viable downtown, more is better."
The Brookings Institution, Research Brief, March 2005
Founded in 1982 by Edward B. Boettner (1933-2000) and Pres Kabacoff, HRI is dedicated to the pursuit of rebuilding neighborhoods and recreating entire communities. Through its subsidiaries, HRI has completed 70 large-scale projects for a total funding value of $2 billion which include 5,114 apartment units, 4,116 hotel rooms, over 1,300,000 square feet of office and retail space.
HRI’s first project, the rehabilitation of the Federal Fiber Mills into luxury apartments, led the transformation of New Orleans’ Warehouse District; propelled the transition of residents moving back into the heart of the city; and marked the upsurge of museums, art galleries, restaurants and hotels. The previous ghost town of abandoned and decaying warehouses was transformed into a vibrant community of over 3,500 residents and 250 new businesses. The Warehouse District has become a blueprint for creating communities where its residents can live, work and play.
HRI is constantly evolving to meet new challenges and stay technologically advanced to better serve its customers. The demand in the marketplace, inventory of empty buildings, HRI’s reputation, and its portfolio of successful projects are HRI’s introduction to cities and governmental units, but it is the interest in physical neighborhoods and the restoration of the area as a whole which makes HRI unique among developers. HRI seeks to create viable neighborhoods. It looks for additional projects to enhance and increase economic development around newly developed buildings. Ernst & Young chose HRI as the national and regional 1998 Entrepreneur of the Year in real estate development because of its mission and its unique approach to developing cities and communities.
HRI has earned numerous awards for its restoration projects and community service, including the National Preservation Honor Award, conferred by the National Trust for Historic Preservation. Most recently, HRI received the Sold on St. Louis Award for its development initiatives in St. Louis.
HRI continues its mission by developing technically innovative and aesthetically pleasing landmarks in cities throughout the country and keeps a keen focus on its core values: respect for all, teamwork/interdependence, and passion based on belief in the firm’s mission.
HRI has established strategic financial alliances with The Related Companies, Bank of America, U.S. Bank Corp., Kimberly Clark Corporation, Advantage Capital, Chevron, Texaco, Prudential and other major corporations.