Canal Street Beat | New Orleans Real Estate News

100 Unit, 94,000sf Apartment Development for Seniors Moves Forward

November 25, 2013 • Community Development, Mid-City, Multi Family, Tax Credits • 9119

The third phase of the Faubourg Lafitte housing project redevelopment is getting ready to break ground. Blitch Knevel Architects LLC, the architect of record for developers L+M Development, Enterprise Community Partners, Inc. and Providence Community Housing, filed a building permit on November 20, 2013 for the 100 Unit, 94,000sf apartment building for low-income seniors at [&hellip
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City Council Gives Final Approval For Magnolia Marketplace’s 1-Cent Sales Tax

November 23, 2013 • Development, Public Development, Retail, Tax Credits • 5764

The Magnolia Marketplace planned for South Claiborne Avenue will open in March 2015 with six national retailers and a fast-food restaurant — TJ Maxx, Ross, Michael’s, PetSmart, Shoe Carnival, Ulta cosmetics and Raising Cane’s. The $25 million project is being financed by a combination of private financing and federal New Market Tax Credits. The developers [&hellip
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Hotel Occupancy Down Slightly From 2012

November 23, 2013 • Hotel & Hospitality • 4727

According to Smith Travel Research’s Hotel Review, New Orleans’ occupancy rate dipped by about 3.1 percent last month to 74.9 percent compared with October 2012. The average daily room increased from about $148 per room in October 2012 to $156.76 last month. Revenue per hotel room also increased slightly by about $2 per room to [&hellip
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City To Build New $6.5 Million Rosenwald Center

November 22, 2013 • Community Development, Public Development • 7748

The city received six bids earlier this month for the reconstruction of the Rosenwald Center on South Broad Street near Earhart Boulevard. The multi-use community center was once New Orleans’ only major recreational facility for African-Americans during segregation. Gibbs Construction submitted the low bid of $6.74 million for the project. Other bids were received from [&hellip
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$8 million Gretna Shopping Center Expansion Adds Office Building

November 22, 2013 • Retail, West Bank • 7096

In addition to the $8 million expansion already underway,the owners of the Westside Shopping Center North received approval from the Gretna City Council for a brand new, 11,250 square-foot building for retail office space. The office building is the latest addition to a large expansion started last year by Realm Realty of Houston. The [&hellip
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Regions Bank To Grace City Skyline at 400 Poydras

November 21, 2013 • Central Business District, Commercial • 8702

Regions Bank’s logo will soon grace the New Orleans skyline. The publicly-traded Birmingham, Ala.-based company is adding its name to the top of its regional headquarters at 400 Poydras St. The cost of the sign is $580,000 with dimensions roughly 6 feet high and 49 feet long. The building, owned by Hertz Investment Group of Los [&hellip
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Redevelopment of $70 Million Riverwalk Moves Forward

November 21, 2013 • Central Business District, Commercial, Development, Retail • 11039

The Developer of the $70 million conversion of the Riverwalk Marketplace offered a first look at their progress this week. Dallas-based Howard Hughes Corp. is transforming the Riverwalk Marketplace into The Outlet Collection at Riverwalk – the nation’s first downtown outlet center – and reopening it as a vibrant waterfront destination offering upscale fashion, local [&hellip
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Baton Rouge to NOLA rail service study due by year’s end

November 21, 2013 • Construction, Economic Development, Public Development, Transportation • 4560

A study to determine the feasibility of operating passenger rail service between Baton Rouge and New Orleans and how to finance the project should be completed by the end of the year. Plans are for the rail line to start near downtown Baton Rouge, around Florida Boulevard or Government Street, then make a stop either [&hellip
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City of New Orleans To Auction 5 Properties

November 20, 2013 • Public Development • 4806

On Friday, December 13, the City of New Orleans will auction five City-owned properties in the City Hall Council Chambers at 10:00 a.m. The Department of Property Management through the Division of Real Estate and Records will conduct the auction. The properties are 2552 St. Philip Street, 6038 St. Claude Avenue, 7450 Paris Road, 801 [&hellip
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$34 Million Lake Forest Charter Building Moves Forward

November 20, 2013 • Construction, Public Development • 5637

The Orleans Parish School Board on Tuesday voted to proceed with a $34 million construction contract to build a new Lake Forest Charter School building in eastern New Orleans. Concerns that the price tag was too hefty, the the board cut $1.7 million from the contract by eliminating 85 extra parking spaces and opting not [&hellip
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