Fresh off the heels of inking the deal to redevelop the World Trade Center site, the City is now seeking proposals to redevelop the site located at 542 Tchoupitoulas Street and 545 South Peters Street, parking lots known around town as the Piazza d’Italia site.
The lot at 542 Tchoupitoulas Street is a 150-space surface parking lot bounded by Poydras, Tchoupitoulas and Lafayette Streets and the Piazza d’Italia. The site at 545 South Peters Street is a 28-space vehicle parking lot located on the corner of South Peters and Lafayette Streets.
The announcement was made Tuesday, May 12 by the city. Mayor Mitch Landrieu said, “The New Orleans market is now very strong now – we signed a lease agreement just last week to redevelop the iconic building at 2 Canal Street as a Four Season Hotel and condominiums. We feel now is the right time to develop the City-owned site adjacent to the Piazza d’Italia. I encourage potential developers to be thoughtful and bold in their proposals that should complement and enhance this City-owned jewel while also reflecting New Orleans’ culture and heritage.”
The RFP asks for proposals to include a plan to develop the site as a first-class commercial and/or mixed-use project complementary to the adjacent land uses (including, without limitation, the Piazza d’Italia), luxury residential, retail, or other professional office use, with entertainment components and other related amenities.
The process is a multi-phase selection process, with the first phase as a request for qualifications and information from developers. From there, the city will select a handful of developers it deems fit to take on the development, who will then be asked to submit actual development proposals. This is similar, if not identical, to the process used for the World Trade Center.
The deadline for phase I submissions is Tuesday, June 30, 2015. What do you think developers will propose? Another hotel, no?
HRI Properties Did $171.1 Million in Revenue in 2014, Reports Website Next Post:
Is Pontchartrain Beach About to Reopen?
[…] City’s plan to redevelop the vacant lots surrounding The Piazza d’Italia is down to just one developer to build on the […]
[…] City’s plan to redevelop the vacant lots surrounding The Piazza d’Italia in to a Hard Rock Hotel is […]