Developer Derek Scontrino of Landcraft LLC is moving forward with his plans for the Diamond Street Lofts, a boutique Warehouse District condo development at 329 Diamond Street.
Diamond Street Lofts will feature 12 two-bedroom, two-bath units with balconies, one 5,200 sf penthouse, a rooftop terrace, and a a commercial unit with almost 50 feet of frontage on St Joseph Street.
Scontrino told CanalStreetBeat that “the property was unique in that it had frontage on two main streets (St Joseph Street and North Diamond Street). It’s also directly across Diamond Street from St Mary’s Park, which was a farmers market until the 1900s.”
Features include a 6th floor terrace for all residents, an innovative rooftop misting system that will be used for rooftop gardening as well as cooling off sunbathers, solar power on the rooftop to power common areas, Acoustiblok construction materials to help eliminate noise between units, electric car charging, and covered parking.
While prices have not yet been set, Scontrino estimates that the price per square foot will go for between $550/sf-$600sf, making it one of the more expensive developments on the market.
Scontrino is looking for a complimentary retail tenant to take over the commercial space. “We are looking for a tenant that is both unique to the area and will be beneficial to both the building and the neighborhood. We are in discussions with two different prospects right now but nothing has been finalized yet.”
Two warehouses currently on the site will be demolished to make way for the 6 story building. Construction should start in April, although no general contractor has yet been selected for the project. SCNZ Architects is the architect of record.
Scontrino has financed the project with private money, all through the Scontrino family of companies, which include Scontrino Realty, Landcraft, LLC, and its subsidiaries.
Landcraft LLC is owned and operated by Joseph Scontrino and has focused on development and construction of a variety of property types in metro New Orleans. Their past experience lies in land acquisition, land development, single family construction, commercial construction, industrial construction and multifamily construction and management.
Most of the company’s multifamily projects have been in the River Parishes. The Diamond Street Lofts will be the family’s first project in downtown New Orleans.
Check out the pics, renderings, and plans below: