Canal Street Beat | New Orleans Real Estate News

Mixed-Use Development Planned for CBD Building at 234 Loyola

December 29, 2013 • Central Business District, Development, Multi Family, Tax Credits • 9047

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 • 8584

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 • 4933

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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Triangle Building Sells, Developer Has New Plans

December 21, 2013 • Central Business District, Development, Multi Family, Warehouse District • 11106

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 • 7005

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 • 4931

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 • 7506

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 • 4438

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 • 6643

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 • 6295

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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