The residential portion of 117-year-old property to receive significant Class-A upgrades
NEW ORLEANS (September 10, 2020) – Audubon, an Atlanta-based firm specializing in the acquisition and management of multifamily properties across the Southeast, has announced the kickoff of a $10 million renovation program at the iconic American Can building in Mid-City.
The renovation program is designed to both enhance the quality of life for the community’s residents and preserve the structural integrity of the asset for future generations. The exterior renovations are already visible from Orleans Avenue, as the facade is being repaired and painted. All of the building’s historic steel windows are being stripped and repaired to like-new condition. Other exterior work will include landscaping enhancements, new asphalt and a complete overhaul of the parking garage. Equally exciting are the renovations planned for the unit interiors. American Can is already known for its oversized, loft-style apartments with unique historical finishes, and the renovation program will enhance these already sought-after interiors with modern finishes, new kitchens and other upgrades throughout. The combination of historical preservation and modernization will provide residents with the best of both worlds.
Class-A amenities are another critical component of this renovation, highlighted by a renovated pool cabana, new resident lounge with free Wi-Fi and an outdoor recreation space. True to the adaptive reuse history of the property itself, an area previously featuring grills and a gazebo is being converted into a state-of-the-art pet park.
“American Can offers a living experience second to none, and we believe this campaign showcases our commitment to ensuring it remains the best place to live in New Orleans,” said Myles Cunningham, chief investment officer for Audubon. “Between its prime location and rich history, we can’t wait to complete this transformation and elevate American Can to an unparalleled level in this vibrant market.”
This project follows the 2019 renovation of the 22,000 square feet of retail space at American Can, which focused on improving visibility and access from Orleans Avenue. Additionally, it eliminated stairways with the installation of a walkway along the store fronts, allowing shoppers to travel easily from store to store.
The 268-unit property was initially built in 1903 as a can factory, but went through an adaptive reuse in 2000 to create an urban, Class-A community with loft-style apartments and retail space. Featuring 56 unique floorplans, the units are renowned for their individuality and style, with 15-foot ceilings and open floorplans highly desired by residents. Audubon acquired American Can in 2013 and currently owns and operates 23 properties with over 6,000 units throughout the Southeast.
Audubon is an Atlanta-based firm specializing in the acquisition and management of multifamily properties throughout the Southeastern region of the United States. With a senior staff that has collectively acquired, managed and renovated more than 50,000 apartment units, Audubon has a wide range of experience and expertise in repositioning multifamily assets. For more information, please visit https://www.acmapts.com.