The City’s plan to redevelop the vacant lots surrounding The Piazza d’Italia is down to just one developer to build on the site.
The development team lead by ICD-Sitra, Crowninvest LLC and Operadora de Servicios para Hoteles de Lujo (OSHL) is the last team in the running, and has proposed a $125 million dual hotel development.
Their proposal would include a double-tower Hard Rock Hotel featuring a 29-floor, 355-room lifestyle hotel and a 14-floor, 155-room “select service” hotel. Both would feature restaurants, a spa, and a rooftop pool.
The complex also includes 20,600 square feet of convention space, an 81,600-square-foot parking garage and 29,000 square feet of “boutique-luxury” retail and gourmet restaurant space. The development would also feature a “jam school” space for the New Orleans Center for Creative Arts.
The developers claim 1,800 new jobs during construction and 450 permanent jobs once the entire project opens. They estimate that the project would generate ~$320 million in top line revenue between 2019 and 2029. They’ve proposed a 4 percent payment to the city of gross hotel room revenues throughout a 99-year lease agreement.
Other partners include Gibbs Construction, the Lemoine Co., Campo Architects and Manning Architects, DBE Global Parking Systems LLC, and local partners Earl Robinson and Hank Torbert.
The lot at 542 Tchoupitoulas Street is a 150-space surface parking lot bounded by Poydras, Tchoupitoulas and Lafayette Streets and the Piazza d’Italia. The site at 545 South Peters Street is a 28-space vehicle parking lot located on the corner of South Peters and Lafayette Streets.
Four other developers submitted proposals to redevelop the lots, although none of them submitted the full, final plan by the deadline.
Check out the renderings below.