Three Finalists Picked For Billion Dollar Charity Redevelopment

by • June 1, 2018 • Development, Public Development, Public FinanceComments (0)1802

Photo via the Downtown Development District

After years of abandonment since Hurricane Katrina and several attempts to redevelop Charity Hospital, LSU and the LSU Foundation decided to move forward again to redevelop the Charity Hospital building in downtown New Orleans.

This week, the three finalists were announced: HRI Properties, Matthews Southwest and a joint venture between El Ad US Holdings and CCNO Development.

HRI Properties is one of the biggest New Orleans-based developers and boasts a large national footprint spanning many asset classes.  HRI Properties founder Pres Kabacoff has long admired the building, and even shared his vision for a $1 billion redevelopment back in 2013.

Matthews Southwest is a Dallas-based developer with a number of high profile projects.  They are also in the running to redevelop the former convention center site near Mardi Gras World.

1452 Tulane Partners: is a joint venture between New Orleans-based CCNO Development LLC and El Ad US Holdings, an Israeli real estate conglomerate.  CCNO has primarily focused on multi-family projects in New Orleans.  El Ad has holdings across the word, including the Plaza Hotel in New York.

None of the details of each team’s proposal was made public.  Stay tuned for more…

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