Hospitality, residential, and affordable housing development rooted in New Orleans and driven by historic preservation, creative capital structures, and long-term ownership.
Bates Development is a New Orleans-based, minority-certified real estate development firm specializing in the adaptive reuse of historic properties. We structure complex capital stacks combining federal and state historic tax credits, low-income housing tax credits, CDBG funding, opportunity zone incentives, and conventional debt to deliver projects that institutional developers overlook.
Our portfolio spans boutique hotels, short-term rentals, multifamily residential, condominiums, and affordable housing—unified by a commitment to building within the character of each site and neighborhood.
Boutique hotels and short-term rentals with distinct identity, built to operate as owner-managed assets generating lasting revenue.
4% and 9% LIHTC transactions, CDBG, HANO vouchers, and PILOT programs. Experienced navigating Louisiana's housing agency landscape.
Federal and state historic tax credit expertise. HDLC-compliant rehabilitation of contributing structures across New Orleans.
Creative layering of HTC, LIHTC, NMTC, tax-exempt bonds, opportunity zones, conservation easements, and conventional financing.
Every project starts with a building others have passed on and ends with an asset we own and operate for the long term.
Identify undervalued historic properties in high-potential New Orleans neighborhoods. Leverage deep local networks and off-market relationships for acquisition.
Layer federal and state historic tax credits, LIHTC, CDBG, opportunity zone incentives, and conventional debt into a capital stack that makes the deal work.
Manage rehabilitation and new construction with HDLC compliance, historic preservation standards, and tight budget oversight from pre-development through CO.
Long-term asset management, investor reporting, and—for hospitality assets—hands-on operation as owner-operators invested in performance and guest experience.
New Orleans native. Morehouse College. Former JPMorgan Asset Management. $85M+ in completed development utilizing historic tax credits, LIHTC, and CDBG. VP Development at IDP Properties. Urban Development Fund board member.
Investment strategy, capital partnerships, and financial management. Oversees deal structuring, investor relations, and the financial architecture that makes complex transactions close.
“We build where we come from. Every project is a bet on New Orleans and on the idea that historic buildings deserve a future as vibrant as their past.”Ryan & Marcia Bates
We partner with investors, municipalities, and operators who share our commitment to place-based development and long-term value creation.