Rendering via Domain Companies
Local developers of the South Market District, located within the Central Business District, recently announced they plan to add a fourth building to their downtown development. The construction will include 24,000 square feet of ground floor retail space with 89 upper level condominiums, which will be known as “The Standard”.
The Standard will include a unique 30,000-square-foot amenity deck on the third floor that includes a large pool with poolside cabanas, an outdoor kitchen, fitness areas, and high-speed Wi-Fi access. Plans also include a full-time concierge, resident clubhouse with a bar and media lounge, a state-of-the-art fitness center, secure storage areas, and onsite parking with electric car charging stations. Construction is planned to begin early next year on the 15 story building. The structure is anticipated to be twice as high as the three other South Market District properties. The construction will take place along Julia Street, South Rampart Street, and O’Keefe Ave.
The condos will feature a mix of one, two and three bedroom units. Pricing is expected to be released later this year. Domain founder Matt Schwartz, says the project development was purposefully done in phases to allow for market demand to be realized for both the retail and residential components.
The apartments within the South Market District have been in high demand. In June all 210 units in the Paramount building were leased. Complete occupancy was achieved in about five months. Construction on the Beacon, a 172,000-square-foot, seven-story building with 114 apartments, is about 40 percent complete and pre-leasing should begin later this year.
New Orleans native and architect Morris Adjimi’s New York firm is handling design for the Standard. The general contractor is Woodward Design+Build. The project is anticipated to be completed in late 2017.