$3.2 Million Mixed-Use Development Coming to 301 Magazine Street

by • July 29, 2014 • Central Business District, Development, Multi FamilyComments (0)6942

Photo via Loopnet.com

Photo via Loopnet.com

A new mixed-use development is coming to the CBD.

Purchased in 2010 by Simon Cho for $1.75 million dollars, his son Eric, on behalf of his father, is teaming up with Gibbs Construction on this $3.2 million renovation and redevelopment project, aided by state and federal historic tax credits, to expand the historic 1830s era bank building into eight apartments with ground-level retail space. 

The building, located on 301 Magazine St,. was built in 1814 and was originally two-stories. Architect James H. Dakin rebuilt the structure and added a third story in 1830 for the Bank of Louisiana. Much like the team now, Dakin’s team worked to reuse as much of the granite from the original building as possible. 

The plans for the Cho’s renovations include 5,000 square feet of commercial space on the ground floor along with 8 apartments on the two floors above, ranging from 850 square feet to 1,166 square feet in size. The fourth floor will be a 2,400 square foot private penthouse and rooftop deck for the Cho family. Construction is planned to end in February.

During the renovations, which began earlier this month, John Schackai of Sustainable Architecture worked with Eric Cho to retain and reuse this same granite and other original features. 

They are also working to preserve the Greek Revival style that has earned the building a “purple” from the Historic District Landmarks Commission. This ranking designates the building as being constructed by an architect of national importance and is the highest such ranking for historical structures in the city.

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