Developer Acquires Oil & Gas Bldg. For Hotel Conversion

by • January 7, 2015 • Acquisitions, Central Business District, Hotel & HospitalityComments (3)3233

Maryland-based Baywood Hotels has acquired the old 14-story office building at 1100 Tulane Ave. for $7 million on Dec. 11, according to Orleans Parish conveyance records.

Photo via nps.gov

Photo via nps.gov

Baywood purchased the vacant building from Renaissance Neighborhood Development Corp., an affiliate of Volunteers of America. RNDC had purchased the building in 2013 for $2.3 million with plans to convert it into mixed-income housing.

Baywood hasn’t yet announced the hotel flag, but we hears its a national flag with 182 units.  Plans call for fully gutting the 55 year old building.

The building is on the National Register of Historic Places, and is a particularly important expression of post-WII modernism in Louisiana.

Baywood owns hotels all over the country including Hiltons and Marriotts.  This will be their first foray into  the New Orleans market.

Baywood’s hotel portfolio includes both new construction and adaptive reuse projects. Athia said the company has completed similar conversions of historic properties in San Antonio, including a former bank building, a jail and a department store.

 

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3 Responses to Developer Acquires Oil & Gas Bldg. For Hotel Conversion

  1. Guest says:

    Any contact info

  2. […] long vacant Oil & Gas building sold in December for $7 million.  The developer plans a new […]

  3. […] purchased the building for $7 million on Dec. 11, 2014 from Renaissance Neighborhood Development Corp., an affiliate of Volunteers of America. RNDC had […]

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