Canal Street Beat | New Orleans Real Estate News

Check Out the Final Design For South Market’s New Garage

January 6, 2014 • Architecture & Design, Central Business District, Development • 7793

The design for the anchor garage for the residents and guests of the South Market District Development has been finalized – and it looks great. It’s a new, refreshing design for New Orleans parking structures. The South Market District is a $200 million mixed-use development off the Loyola Avenue streetcar line. It will eventually encompass [&hellip
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New CVS Pharmacy Planned for Corner at 1600 Elysian Fields Ave.

January 6, 2014 • Commercial, Construction, Development, Healthcare • 9613

CVS has plans to build a new drug store at the corner of Elysian Fields and Claiborne. The company filed construction permits with the City of New Orleans last week on January 3. Plans call for a 13, 225 square foot CVS drug store. According to the city’s assessor records, the owner of the property [&hellip
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Starwood Capital Paid Over $116 Million for This New Orleans Hotel

January 6, 2014 • Uncategorized • 12078

Starwood Capital Group has closed on the Astor Crowne Plaza hotel in New Orleans for $116.6 million, or about $168,254/room. The Greenwich, Conn., investment manager bought the 693-room property from LNR Partners, special servicer for its $73.4 million CMBS loan, which was securitized through GS Mortgage Securities, 2005-GG4. The sale is a rarity in that [&hellip
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Lowe Enterprises Investors Just Bought This Hotel for Over $10 Million

January 6, 2014 • Central Business District, Hotel & Hospitality, Investment • 6115

Lowe Enterprises Investors (LEI) has purchased the Royal St. Charles Hotel on behalf of an investment client for $10.1 million. Records from the New Orleans Notarial Archives show the hotel sold Dec. 31 for $10.1 million, including the assumption of an $8.7 million loan from U.S. Bank. The seller was Clearview Hotel Capital, an investment [&hellip
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Spizer Honored With National Real Estate Award

January 4, 2014 • Awards & Recognition • 4044

Barry Spizer, the founder of SRSA Commercial Real Estate, has been awarded with National Association of Realtors National Award for 2013. Each year, the National Association of Realtors honors accomplished Realtors in commercial real estate by recognizing their achievements. Barry was the sole recipient of the award for the State of Louisiana. Spizer has received [&hellip
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On The Market: 142 Key Baymont Inn & Suites

January 2, 2014 • Hotel & Hospitality, Investment, New Orleans East • 5074

The 142 key Baymont Inn & Suites in New Orleans East hit the market last week with an asking price of $3,250,000. The four-story hotel was built in 1996 as a limited-service hotel and was converted into the Baymont Inn & Suites in the second quarter of 2013. As of November 2013, the listing reports [&hellip
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Year in Review: New Orleans Retail

December 30, 2013 • News, Retail • 8005

The New Orleans’ commercial real estate retail market saw growth in 2013 like it hadn’t seen in years with many new retailers coming to town. Here are the highlights: The $70 million redevelopment of the Riverwalk Marketplace downtown into an upscale outlet mall. The renovation will add 50,000 square feet to the building. New tenants [&hellip
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Mixed-Use Development Planned for CBD Building at 234 Loyola

December 29, 2013 • Central Business District, Development, Multi Family, Tax Credits • 8659

CityBusiness reports that developers Green Coast Enterprises and the Crescent City Community Land Trust plan to convert the former Higgins Industries Building at 234 Loyola Ave. into market rate and low-income multifamily apartments with ground level retail. The development will include 80 one- and two-bedroom market rate and low-income apartments on the upper floors and [&hellip
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Construction Update: The Myrtle Banks Redevelopment

December 27, 2013 • Central City, Community Development, Development, Food & Beverage, Tax Credits • 8179

The redevelopment of the old Myrtle Banks school by Alembic Community Development continues to move forward. Constructed as McDonogh 38 Elementary School in 1910, the historic structure was too run down to be used as a school in 2002 and closed. A dramatic fire ravaged the shuttered property in 2008, transforming it into an humongous, [&hellip
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$9 Million African-American Museum Breaks Ground on Second Phase

December 23, 2013 • Uncategorized • 4639

The New Orleans African-American Museum is proceeding with the second phase of a $9 million development project at its Treme campus. The New Orleans African American Museum embarked upon a campaign to transform itself from a modest tribute to the history of African-Americans in New Orleans into a vibrant, living museum, educational facility and community [&hellip
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