The City’s plan to redevelop the vacant lots surrounding The Piazza d’Italia in to a Hard Rock Hotel is dead.

The City announced yesterday (May 10) that the Canal Street Development Corp., the city entity that owns the land, failed to reach a deal with Hard Rock hotel developer ICD-Sitra.  Apparently, negotiations between the two sides fell apart when they could not reach acceptable lease terms.

The development team lead by ICD-Sitra, Crowninvest LLC and Operadora de Servicios para Hoteles de Lujo (OSHL) was the last team in the running to redevelop the lots, and had 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 included 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 have also featured a “jam school” space for the New Orleans Center for Creative Arts.

Four other developers submitted proposals to redevelop the lots, although none of them submitted the full, final plan by the deadline.

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