IDP Properties, a Valdosta, Georgia based real estate developer, continues to build and expand on its expertise in historic adaptive reuse with the redevelopment of two historic properties: Davis Exchange in Albany, Georgia, and Canal Crossing in New Orleans, Louisiana. These redevelopments demonstrate IDP’s leadership in transforming historic properties into vibrant residential communities that preserve
architectural heritage and create lasting positive impact.

Rhett Holmes, President of IDP Properties stated, “It is a privilege to use our experience and resources to see the impact these redevelopments have on their communities, and the partnership created to make these unique and complicated buildings brought back into commerce.”

Davis Exchange, Albany, Georgia

Located in the heart of downtown Albany, Davis Exchange reflects IDP Properties’ commitment to community revitalization through historic adaptive reuse and urban infill.

The development will transform the city’s first skyscraper, the seven-story Davis Exchange Bank Building originally constructed between 1919 and 1921, into a dynamic mixed income residential community featuring 56 apartments, with 41 income restricted units and 15 residential units.

The historic Davis Exchange Bank Building will be restored to include 26 residences, a leasing office, and ground-floor commercial space that will contribute to the continued revitalization of downtown Albany. Adjacent to the landmark structure, a new three-story building will provide 30 additional residences designed to complement the architectural character of the historic property and strengthen the surrounding streetscape.

Residents will enjoy a range of shared amenities including a fitness center, computer lab, laundry facilities, a community room, and a covered outdoor gathering area, all designed to create connection, accessibility, and a sense of community.

The development is supported by a team of experienced partners dedicated to revitalizing Albany’s historic core. Financing is provided by JP Morgan Chase Bank, United Bank through UB Community Development, the City of Albany, and the Downtown Development Authority of Albany. PNC Bank is serving as the federal investor for both the Low-Income Housing Tax Credits and Historic Tax Credits, while Sugar Creek Capital is providing the state-level tax credit investment. Sheridan Construction serves as the general contractor, Dunwody/Beeland Architects Inc. leads architectural design, and ASA
Engineering & Surveying provides civil engineering services. Together, these partners are contributing their expertise to ensure the successful transformation of this landmark property.

Canal Crossing, New Orleans, Louisiana

Located along one of New Orleans’ most storied corridors, Canal Crossing continues IDP Properties’ dedication to historic adaptive reuse and the creation of high-quality, affordable housing that enhances and preserves the character of the surrounding community. The development will transform the historic building into 49 apartments for seniors, blending preservation of the structure’s architectural character with modern comfort and accessibility.

All of the 49 apartments at Canal Crossing will be income-restricted, serving seniors at varying levels of affordability, including units at 30, 50, 60, and 70 percent of the Area Median Income. The property is in a highly accessible area near shopping, public transportation, and essential community services, providing residents with both convenience and connection.

This redevelopment represents a collaborative effort between public and private partners committed to strengthening the New Orleans community. Bates Development of New Orleans serves as IDP Properties’ co-developer on Canal Crossing. “As a New Orleans native, I am proud to be part of bringing this building back to life,” said Ryan Bates, Principal of Bates Development. “Canal Crossing represents the kind of redevelopment that honors our city’s history while creating new opportunities for its people. It is rewarding to help breathe new life into a place that holds so much meaning for this community.”