Canal Street Beat | New Orleans Real Estate News

Is This the New Headquarters of International Shipholding Corp.?

February 7, 2014 • Economic Development, Office, Tax Credits, Warehouse District • 8361

International Shipholding Corp., which owns and operates a global fleet of waterborne cargo vessels, announced yesterday that they are relocating their corporate headquarters from Mobile, Ala., to New Orleans, where the business was originally founded in 1947. As a public company (ISH), this is a major win for NOLA. The company announced that it would [&hellip
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Arena To Be Renamed Smoothie King Center; Loew’s State Palace & More

February 7, 2014 • Sports & Specialty, Zoning and Land Use • 7783

The New Orleans Arena now has a new name: the Smoothie King Center. Tom Benson and his team have reached a 10 year naming rights deal for the 14 year old arena where the Pelicans play their games. The price tag has not been disclosed. Read more from our friends at The Advocate or take [&hellip
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Louisiana Artworks Sold to Brennan/Delgado Group For Hospitality Institute

February 6, 2014 • Warehouse District • 4372

Louisiana ArtWorks, the art hub and studio on Howard Avenue financed with public funds, is now under contract for $6.2 million to be sold to the New Orleans Culinary and Hospitality Institute (NOCHI), a non-profit hospitality, culinary, and restaurant school. NOCHI is a collaboration between restaurateurs Ti Martin, Dickie Brennan and Delgado Community College, the [&hellip
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The Dead Pool: Trump International Hotel and Tower

February 5, 2014 • Architecture & Design, Central Business District, Dead Pool, Development • 12593

The Dead Pool focuses on projects, developments, buildings, and infrastructure projects that were proposed but never actually happened for one reason or another. Like many cities, New Orleans is full of them. This series will highlight some of the most spectacular proposals that never came to fruition. First up is the Trump International Hotel and [&hellip
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Video: 5 Jump To Their Death To Escape NOLA High Rise Fire – From 1972

February 5, 2014 • Central Business District • 28831

Over four decades ago, a downtown high-rise known as the Rault Center caught on fire, forcing several trapped inside to attempt to jump to safety from 15 floors up. Most died. On November 29, 1972, flames tore through the Rault Center in downtown New Orleans. On the 15th floor was a beauty salon where [&hellip
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Whole Foods in Mid-City Opens; Homes Prices Rise

February 4, 2014 • News • 3826

Broad St. Whole Foods opens; launches national healthy eating foundation [NOLA.com] Home prices up 4% in metro area in 2013 [The Advocate] Despite Court’s demand, Newcomb Blvd. gate remains [NOLA.com] Demand for homes rose in 2013 [The Advocate
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This Data Shows Why New Orleans’ Apartment Market Might Boom in 2014

February 4, 2014 • Multi Family • 9979

In 2013, the New Orleans apartment market increased absorption 5.5 percent compared to 2012 and taking 1,290 units off the market according to research provided by Hendricks-Berkadia. With no major multifamily developments coming online to increase inventory, the city’s 5 percent year-end vacancy was the lowest rate in 13 years. The Class B apartment market [&hellip
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$120 Million, 21 Story Hotel Tower Planned for 400 Canal

February 3, 2014 • Architecture & Design, Central Business District, Development, Hotel & Hospitality • 9702

Wischermann Partners, Inc. and Jayshree Hospitality LLC, owned by Kishore “Mike” Motwani, are co-developing a proposed 21-story, 373-room hotel at the corner of Canal and Tchoupitoulas streets. The property would operate under the Marriot Hotel brand, although if look closely the rendering actually shows a Ramada Inn and a Springhill Suites. The hotel tower would also [&hellip
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Downtown Office Market Picks Up Steam

February 3, 2014 • Office • 4923

Office absorption is up across the metro area across Class A and Class B properties. According to the Office Occupancy and Absorption Study by SRSA Real Estate, overall absorption of Class A and Class B properties came in at 163,648 square feet for 2013. Close to 9% of all available Class A & B office [&hellip
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Investors Pumped $7-8 Billion Into Downtown NOLA Over Last 9 Years

February 3, 2014 • Central Business District, Investment, News • 5676

Downtown’s post-Katrina redevelopment progress has been impressive. From the South Market District to the Riverwalk redevelopment, to new multifamily developments, New Orleans’ downtown is on the rebound. According to New Orleans Downtown Development District (DDD) CEO Kurt Weigle, the amount invested in New Orleans downtown since Katrina is close to $7-8 billion. Downtown construction permits [&hellip
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