Real Estate developer and financier Spectrum Capital announced yesterday that they are moving forward with their luxury condo project 1100 Annunciation, and construction should start later this year. The project started showing signs of momentum last year.
The 16-story tower at 1100 Annunciation St. will have 86 luxury units and cost approximately $70 million. All will have balconies with great views of downtown and the Mississippi River. The building will also feature ground floor retail and four levels of parking.
The project has seen several incarnations over the years. It was first proposed by developers T.J. Iarocci and Robert Tatum in 2005 and was to feature 24 floors of luxury condos. Lawsuits plagued the project, with nearby homeowners associations like the Lengsfield Lofts suing over and over again to prevent its construction. The lawsuits are finally over, and the project is now moving forward.
“The path is now clear for us to bring Eleven Hundred Annunciation to the Warehouse District,” said Jason Voyles of Spectrum Capital, developer on the project, in a news release. “This exciting project offers a rare opportunity by combining one of New Orleans’ most prolific historic neighborhoods with all of the luxuries and conveniences of new construction.”
Trapolin + Peer Architects is designing the project and Talbot Realty Group is handling sales.