Canal Street Beat | New Orleans Real Estate News

Triangle Building Sells, Developer Has New Plans

December 21, 2013 • Central Business District, Development, Multi Family, Warehouse District • 10772

According to Orleans Parish records, the Warehouse District building at 833 Howard Avenue, also known as the Triangle Building, was sold on December 3. While the purchase price is unknown, the it had been on the market for years at $2 million. The purchaser is Wedge Enterprises, LLC, an entity controlled by accountant William R. [&hellip
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Plaquemines Port Buys 550 Acres For Development

December 21, 2013 • Uncategorized • 6770

The Plaquemines Port Harbor and Terminal District closed Dec. 13 on the purchase of 550 acres of land just south of Myrtle Grove for future major development. The property includes 1.5 miles of land along the Mississippi River in a location where industrial expansions are already in progress. Port officials described the purchase and the [&hellip
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Meenan Withdraws Plan for Habana Outpost

December 20, 2013 • Food & Beverage, French Quarter, Zoning and Land Use • 4555

After a contentious neighborhood and city council battle for the approval of the Habana Outpost, a Cuban restaurant planned for the corner of Esplanade Avenue and North Rampart Street, prompting dozens of supporters to break out in cheers, the project is suddenly in limbo again. Four months ago, the Vieux Carre Commission approved the restaurant’s [&hellip
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State Bond Commission Approves $2.3 Million For Magnolia Marketplace

December 19, 2013 • Central City, Development, Economic Development, Public Finance, Retail, Tax Credits • 7008

Magnolia Marketplace, the $24 million retail development on Claiborne Ave. in Central City, received the last leg of its state-related financing approval today. The Louisiana State Bond Commission voted to approve the sale of $2.3 million in bonds that will be repaid with an increased sales tax at the development. Just last month, the City [&hellip
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NOLA Hotel Rates Continue to Grow

December 19, 2013 • Hotel & Hospitality • 4191

New Orleans average daily rates (ADR) increased last month compared with November 2012, reaching 68.4 percent. Although the 2013 ADR was only about 3 percent higher according to Smith Travel Research, the amount charged month over month increased over $26, from $129.57 last year to $155.70 last month. That increase boosted revenue rates per room [&hellip
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Construction Firm Building New $8.8 Million Asphalt Plant

December 19, 2013 • Construction, Industrial • 6323

Boh Bros. Construction is building a new $8.8 million asphalt plant on France Road near its existing facility. The company needs to increase its asphalt production with equipment that is too large for its current site to accommodate according to its CEO Robert Boh. $2 million in renovations are planned for the site, which is [&hellip
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Modern 5-Story Building To Rise From Dixie Brewery Site

December 19, 2013 • BioDistrict, Economic Development, Mid-City, Public Development • 5987

The Dixie Brewery Building owners are continuing their three-year fight today in court to save the Mid-City building, built in 1907, and bring the brewery back to New Orleans. The New Orleans Advocate reports that the state expropriated the blighted property in 2011 and turned it over to the VA as part of the massive [&hellip
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This Company is Quadrupling its Downtown Office Space

December 19, 2013 • Office, Warehouse District • 3576

Creative event and design firm The Solomon Group is renovating a building that will hold enough space to nearly quadruple the size of its downtown offices. Founder Gary Solomon Jr. said the company has been working to renovate a 10,000-square-foot building at 819 Girod St. that will be the firm’s new home office. The business [&hellip
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Police Station & Firehouse Among Those Sold at City Auction

December 19, 2013 • Uncategorized • 5193

Three of the five city-owned properties that were auctioned by the city last Friday have sold. The Mid-City Messenger reports that an old police station from 1902 in the Esplanade Ridge/Tremé part of town sold for its opening bid of $175,000. The Two Family Residential District zoning classification of the old police station allows for [&hellip
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This Entrepreneur Took Money From the City and Closed Its Doors

December 19, 2013 • Central City, Public Finance, Retail • 3496

The Central City grocery store that borrowed a low-interest loan under the city-funded Fresh Food Initiative, a program to bring fresh foods to under-served neighborhoods, has closed and is up for sale. The Lens reports that Owner Doug Kariker said the store was too much work. “I can’t do it anymore,” he said. The store [&hellip
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