The proposed $1.5 billion Trade District to de developed on a 47-acre tract of land adjacent to the Ernest N. Morial Convention Center has apparently “stalled out” according to a report in The Advocate.
According to The Advocate, the convention center has been distracted with other deals, like their $12 million purchase of the former Louisiana Artworks Building.
The Convention Center bought the 47-acre tract of land for $45 million in 2000. Originally, the plan was to create a Phase IV for the convention center, which would have housed another 500,000 square feet of space. Those plans were canceled after Katrina.
In early 2015, the Convention Center started negotiating to develop the tract in to The Trade District, a group made up of local developers Joe Jaeger and Darryl Berger, along with Dallas-based Howard Hughes Corp., which also owns the Riverwalk.
Last September questions started to surface about whether the Trade District would actually happen since it had been over a year with no deal.
Read the full story here.
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