I don't know. It seems way out of line if it only includes the Iberville area. For comparison, a similar project at the Guste/Erato projects cost only $3.6M for about 10 blocks of reconstructed street. The Iberville is larger, but even if they do the whole area between Claiborne, Orleans, Basin, Canal that's only about $23M/64 blocks. For $157M they could completely reconstruct the streets in a huge area of the city.
http://www.durrhc.com/projects/Guste_util.asp
$175M might be the total project cost for Iberville, including the new housing, but you can't use TIFIA to build housing.