Tulane University announced that the former Warwick Hotel, an abandoned building at Duncan Plaza across from City Hall, which was purchased by the New Orleans Redevelopment Fund last summer, will be converted into a new Tulane mixed-use building for medical staff and students.
Tulane will lease the entirety of the building, including all planned 154 apartments, which they will rent to students, faculty, and staff. They will also lease and relet the retail, which will include a cafe and other services.
Tulane University has really stepped it up over the past few years and has become a major anchor and economic driver for downtown New Orleans. Combined with the Charity Hospital project, Tulane will now own or lease more than 4.2 million square feet downtown.
The former hotel was built in 1952, had been abandoned since before Katrina, and is eligible for state and federal historic tax credits. The building is also in an opportunity zone.
The New Orleans Redevelopment Fund, led by entrepreneur Alex Hernandez and Development Director Cullan Maumus, has been instrumental in redeveloping the city after Katrina. They’ve had dozens of projects, including the conversion of a mid-city church and a new hotel on Carondelet Street, and recently launched an opportunity zone fund.
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