A new four-story apartment building officially opens this week on the former Navy base in Algiers known as Federal City, the first of two residential projects on a site where developers say they are now making progress in creating a community of businesses, recreation, retailers and affordable housing.
The 70-unit building known as Riverside Retreat is the first of two residential projects that when completed will total more than 130 apartments.
Riverside Retreat, which is earmarked for low-income older residents, along with a market-rate apartment complex slated to open in the next 18 months, represent a major step in the efforts to revitalize Federal City, a task that has taken 12 years, seen two failed development deals and has frustrated public officials in their quest to add affordable housing in neighborhoods across the city…