Canal Street Beat | New Orleans Real Estate News

St. Peter & Paul Church Complex Gets Zoning Approval

October 29, 2014 • Development, Zoning and Land Use • 7709

On Tuesday, the New Orleans City Planning Commission gave developers approval to move forward with a zoning change that would allow the St. Peter and Paul Church Complex on Burgundy to be converted into a 71 key hotel. The City Council still has to approve the measure. The developers include Nathalie Jordi, a Tulane MBA and Marigny resident, [&hellip
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Westbank Shopping Center Sells For $18,500,000

October 28, 2014 • Acquisitions, Retail, West Bank • 6443

Manhattan Place shopping center in Harvey has been purchased by the World Class Capital Group for $18.5 million, reports Nola.com Marketing documents obtained by CanalStreetBeat claim that the shopping center had net operating income in 2011 of $1,870,170, meaning it was purchased at a roughly 10% cap rate. At 281,614 square feet, the building sold for [&hellip
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Retail Watch: Barre3 to Open in South Market; Willie Mae’s Scotch House Opens Uptown

October 27, 2014 • News, Retail • 6014

There’s been a lot of retail activity this year, from West Elm, LD Linen’s and Decor, and Maysville on Magazine Street; to new South Market District tenants like Blaze Pizza and Magasin. And now we’ve got a few more for you: James Beard Award winner Willie Mae’s Scotch House is set to open a new location in Uptown [&hellip
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HRI Secures $150 Million Investment For Future Projects; Plans On Going Public

October 24, 2014 • Finance & Lending, News • 6454

HRI Properties has secured an investment from a New York investment group that it will use to fund future developments after doubling its income in 2013 from $98 million to $200 million. The New Orleans-based real estate development and property management firm landed a $150 million investment from Almanac Realty Investors. “The projects that HRI creates [&hellip
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Hawaii Investor Buys Kmart on Veterans Boulevard for $16.5M

October 22, 2014 • Acquisitions, Jefferson Parish, Retail • 7564

The Kmart at 2940 Veterans Blvd. in Metairie was sold last week for $16.5 million, according to property records. Veterans Elua LLC, purchased the property, whose manager is Corine Watanabe of Honolulu. It appears that she is affiliated with HTH Corp., a Hawaii-based real estate holding and management company. The company website lists one property in [&hellip
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Big Time New Markets Tax Credit Conference In NOLA This Week

October 21, 2014 • Conference, Tax Credits • 4370

Novogradac, the national accounting firm that specializes in accounting services for tax credits and special incentives, is holding their national conference on New Market Tax Credits in New Orleans this week at the Roosevelt Hotel October 23-24. This is the top industry conference for New Markets Tax Credits. More than 40 industry leaders from around the [&hellip
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Domain Secures New Incentives For South Market District

October 20, 2014 • Public Finance, Warehouse District • 6892

The Domain Companies, the developers of the South Market District, have secured another incentive from the city for the next phase of their project. Last week, the city’s Industrial Development Board voted to grant a 10-year payment in lieu of taxes, or PILOT, for The Beacon, a $40 million residential and retail building that is part of [&hellip
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Waypoint Lodging Announces Plans for $120 Million Hyatt House Hotel in New Orleans

October 20, 2014 • Hotel & Hospitality • 10515

Waypoint Lodging and Hyatt Hotels announced last week that a Hyatt affiliate has entered into a management agreement with an affiliate of Waypoint NOLA, LLC for a Hyatt House hotel in New Orleans. The project, an adaptive re-use of an existing 24-story office building, includes the redevelopment and renovation of seven floors located within the building, with [&hellip
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Check Out The New Le Meridian Hotel [PICS]

October 17, 2014 • Central Business District, Hotel & Hospitality • 7526

Construction crews got to work last year after the announcement that the 23 story W Hotel on Poydras would be rebranded as Starwood’s upper tier brand, Le Méridien New Orleans. The hotel has undergone a $29 million renovation, and will have a new restaurant, new, chef, and new bar. Le Méridien New Orleans will feature [&hellip
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Round #2 for 1035 Tchoupitoulas

October 16, 2014 • Architecture & Design, Construction, Development, Food & Beverage, Multi Family, Residential, Warehouse District, Zoning and Land Use • 6297

Yesterday plans were filed with the HDLC for ARC review later this month for an apartment project at 1035 Tchoupitoulas Street. Here’s the description submitted to the city: “FOR ARC REVIEW ONLY. DO NOT BEGIN FULL SAFETY AND PERMITS REVIEW. Construction of new multi-story mixed-use 10-story building including a restaurant on floors 1-2, residential [&hellip
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