Meet The Developers Contending For The Convention Center Redevelopment

by • October 13, 2014 • Lower Garden District, Public FinanceComments (3)4261

Rendering via Mccno.com

Rendering via Mccno.com

Earlier this year, the Convention Center issued a “request for interest” from developers for the redevelopment of 47 acres of unused land on the River owned by the Ernest N. Morial Convention Center into a massive mixed-use district that would featured shopping, hotel, residential, and entertainment.

Last week, the Convention Center announced the companies that submitted interest for the $1 billion development.

According to NOLA.com, The companies seeking to be the “master developer” for the project are:

 

  • Convention District Development Associates: A New Orleans-based team that includes hotelier Joe Jaeger Jr. of MCC Group; Darryl Berger of real estate developers The Berger Co.; Manning Architects; andEskew+Dumez+Ripple.
  • Madison Marquette: A Washington, D.C.-based retail management and real estate development company. Madison Marquette’s portfolio includes more than 23 million square feet of retail, according to the company’s website.
  • Howard Hughes Corp.: A Dallas-based real estate development and management company. Howard Hughes earlier this year reopened the Riverwalk as an outlet mall after an $82 million renovation.
  • Hellinger Penabad Cos.: A Miami-based real estate development and management group. Its projects have included several condo towers in the Miami area, according to the company’s website.

There were also two developers that applied for the hotel development only:

  • RIDA Development Corp.: A Houston-based company undergoing an expansion of its hotel development efforts in the U.S. and around the world, according to the company’s website.
  • Omni Hotels & Resorts: A Dallas-based hotel company. Omni’s properties include hotels adjacent or attached to convention centers in Dallas, Nashville, Fort Worth and San Diego.

The next step is for the Convention Center to seek specific development proposals, and then begin lease negotiations.

The Convention Center itself has $170 million from a combination of bonds, cash reserves and state capital outlay money to contribute to the deal.

 

Pin It

Related Posts

3 Responses to Meet The Developers Contending For The Convention Center Redevelopment

  1. […] Howard Hughes has also thrown its hat into the ring to develop 47 acres at the convention center. […]

  2. […] In another, separate project, Howard Hughes is competing against a team led by Berger and Jaeger to win the redevelopment of the Convention Center. […]

  3. […] this year, the Convention Center issued a “request for interest” from developers for the redevelopment of 47 acres of unused land on the River owned by the Ernest N. Morial Convention Center into a massive mixed-use district that would […]

Leave a Reply

Your email address will not be published. Required fields are marked *