Canal Street Beat | New Orleans Real Estate News

HRI Closes On $100 Million Financing for 225 Baronne

December 9, 2013 • Central Business District, Development, Hotel & Hospitality, Multi Family, News, Tax Credits • 8901

Last week HRI Properties closed on a $100 million financing package for the redevelopment of 225 Baronne St. The 30-story downtown office building is being converted into apartments and an Aloft boutique hotel. HRI vice president of development Josh Collen stated that the project is being financed through a combination of federal and state historic [&hellip
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Civil Rights Museum Among ArtWorks Facility Bidders

December 6, 2013 • Public Development, Warehouse District • 4435

The failed, vacant Louisiana ArtWorks complex that’s being sold brought in four bids by Tuesday’s deadline. Two of the bidders — the New Orleans Culinary and Hospitality Institute and Launch Pad, a tech incubator — had announced their plans in recent days. The Lens reported the identity of a third bidder: the advisory board of [&hellip
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Boomtown Casino & Hampton Inn Construction Adds Hotel Rooms to West Bank

December 6, 2013 • Construction, Hotel & Hospitality, West Bank • 5046

A new $20 million Boomtown Casino luxury hotel and a four-story Hampton Inn will add more hotel rooms on the West Bank. Both are currently under construction. The newest additions to the West Bank hotel lineup are expected to open early next year. Boomtown will open in March. The five-story hotel will boast 150 rooms, [&hellip
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“Engine 37” Coffee House for Laurel Street Fire Station Wins City Approval

December 6, 2013 • News, Uptown, Zoning and Land Use • 4353

Sylvi Beaumont and her husband bought the former fire station from the city in a surplus property auction in May, and are proposing a coffee shop with a few apartments adjacent to it. Though the building’s zoning is residential, it has never been used as a residence, she noted, but as a coffeehouse will [&hellip
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441 Unit Esplanade at City Park Apartments Sell for $54.5M

December 5, 2013 • Acquisitions, Mid-City, Multi Family • 6797

Priderock Capital Partners of West Palm Beach, Fla., purchased the 441-unit Esplanade at City Park, 3443 Esplanade Ave., for $54.5 million in a deal that closed Nov. 19. The seller is listed as Old Man River Esplanade LLC, a group led by New York real estate investor Jeffrey Feil. His family company, The Feil Organization, [&hellip
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Stirling Properties Break Ground on River Chase Shopping Center Expansion

December 4, 2013 • Construction, Development, Northshore, Retail • 5428

Stirling Properties just broke ground on a 9,000 SF expansion to River Chase Shopping Center in Covington, Louisiana. Construction recently commenced on the 2-tenant building that will be the future home to Men’s Wearhouse and Bellagio Salon & Spa. Located next to Region’s Bank, both stores will open summer of 2014. Men’s Wearhouse, a specialty [&hellip
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Tulane Moves Forward With New Riverfront Tech Campus

December 4, 2013 • Central Business District, Construction, Economic Development • 3964

Tulane’s plan for a new technology campus focused on coastal applied sciences and engineering is finally moving forward. The plan, originally called Riversphere, has been in the works since before Katrina. The new campus will house the Tulane University Riverfront Campus for Applied Coastal Sciences and Engineering and will be located in downtown New Orleans [&hellip
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JP Breaks Ground on Woodmere Community Center

December 3, 2013 • Community Development, Jefferson Parish • 5550

A $1.2 million construction permit was issued Nov. 20 for the Woodmere Community Center in Harvey on Edgewood Street at Woodmere Park, which will serve a community of more than 12,000 residents. Three fourths of the financing came from the state with the rest from Jefferson Parish. The community center features a 3,400-square foot building [&hellip
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Stirling Acquires Class A Office Building in Baton Rouge

December 2, 2013 • Acquisitions, Baton Rouge, Office • 4111

Stirling Eight United Plaza LLC, an entity comprised of local investors led by Stirling Properties, acquired United Plaza VIII from Wink United Plaza LLC on November 25, 2013. Built in 1993, the 3-story, Class A office building is located at 8641 United Plaza Boulevard in the United Plaza Office Park in Baton Rouge, Louisiana. The [&hellip
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Construction Well Underway On Tulane’s Yulman Stadium

December 2, 2013 • Construction, Sports & Specialty • 8092

Tulane is making significant progress on the construction of its new $72 million, 30,000 person seat football arena, Yulman Stadium. Reports are that construction alone will cost $63.5 million, and the remainder will be eaten up by soft costs. The major donors are Tom and Gayle Benson ($7.5 million to name the field), Jill and [&hellip
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