The newest housing project for victims of Hurricane Katrina opened on Saturday.

It's called Canadaville and the man behind it is Frank Stronach, chairman of auto parts maker, Magna International, who put up $10 million of his own money for the project.

Canadaville is located about 100 kilometres from Baton Rouge. Built on about 325 hectares of land, the mobile homes feature front and back porches, landscaping, a community centre and basketball courts are in the works.

Frank Stronach in Simmesport, Louisiana on Saturday.

Some of the land will be set aside for organic farming.

"We want to show the world that no matter where you're born, no matter how poor you are, that you can succeed in life," Stronach told a group that had gathered to celebrate the opening.

Those who will live in the community will do so rent-free for the first five years.

Initially, Canadaville will house 110 people, but eventually it could grow to 300.