Canal Street Beat | New Orleans Real Estate News

Carondelet Street Properties Sold to Investment Fund

January 23, 2018 • Central Business District, Commercial • 4132

The downtown buildings located at 131-133 Carondelet Street has been sold to an investment fund sponsored by the New Orleans Redevelopment Fund. Although the terms of the transaction were not disclosed, the property was officially sold on December 29 and the fund was represented by Steeg Law Firm and Coldwell Banker Commercial TEC. “This investment [&hellip
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New 17-Unit Multi-Family Development Planned For French Quarter

January 22, 2018 • Development, French Quarter, Multi Family • 6920

Developer Brian Gibbs filed plans last week for a new French Quarter multi-family project. The development would consist of the renovation of 2 vacant 6-story structures into a 17 unit apartment building with ground floor parking and a lobby. The project would see 535 Iberville and 537 Iberville combined into one property of record. According [&hellip
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Multi-Million Dollar Culinary Institute Breaks Ground In Downtown New Orleans

January 16, 2018 • News • 4125

After years of false starts, the New Orleans Culinary and Hospitality Institute (NOCHI) is finally breaking ground on a $32 million redevelopment of former Louisiana ArtWorks building. NOCHI will feature five teaching kitchens, a drink lab for wine and spirits programs, a retail café, separate classroom and office spaces for NOCHI and Tulane University, and an event center on [&hellip
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Large Self-Storage Facility on Tchoupitoulas Wins CPC Approval

January 12, 2018 • Commercial, Development, Uptown, Zoning and Land Use • 5186

A large self-storage facility proposed by developer Gordon Kolb for 13 lots at 4866 Tchoupitoulas won approval from the City Planning Commission this week. Kolb, who has developed dozens of Walgreens over his career, plans to build a three-story facility on 52 square feet of land. The property portfolio, currently listed for sale at $5,500,000, includes 9 [&hellip
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345-Unit Mixed-Use Village Planned For Algiers Riverfront [We’ve Got Renderings!]

January 11, 2018 • Development, Multi Family, West Bank • 9138

Developer Philip Spiegelman announced plans to build a massive new development in Algiers on the bank of the Mississippi River. The project would feature four -story buildings, 345 apartments, and ground floor retail and shopping. The project would unfold on 3.4 acres and also include a pedestrian plaza and public park, parking garages, and 35 low-income units. [&hellip
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Vacant Theater At Esplanade Mall To Be Converted Into 256-Unit Apartment Complex

January 8, 2018 • Kenner, Multi Family • 6241

A vacant movie theater at The Esplanade Mall in Kenner will be demolished to make way for a 256-unit apartment complex, according to an announcement by the City of Kenner. Kenner City Hall announced last week that Baton Rouge-based Clay Companies plans to build an apartment complex on the building. The developer recently closed on [&hellip
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Kirschman Purchases Former St. Charles Avenue Whitney Bank Branch For $3,750,000

January 2, 2018 • Acquisitions, Retail • 5852

Investor Arnold Kirschman with Kirschman Enterprises LLC has closed on the former Whitney Bank building at 1320 St. Charles Avenue for $3,750,000 million. The transaction closed in December. The property included a two-story building of 11,500 square feet, and 31,465 square feet of land on nine separate lots of record. The property is zoned MU-1, a [&hellip
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Stirling Properties Acquires $60MM Rehab Hospital In Joint Venture With Ochsner

December 27, 2017 • Acquisitions, Healthcare, Jefferson Parish • 6209

A joint venture made up of Stirling Properties and the Ochsner Clinic Foundation have closed on the acquisition of the new Ochsner rehabilitation hospital located at 2614 Jefferson Highway in Jefferson, Louisiana. The new facility was built by the Feil Organization and leased to Ochsner. Feil reportedly paid between $5.5 and 6.5MM for the property in [&hellip
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$35 Million, 162-Key Cambria Suites To Hold Grand Opening

December 26, 2017 • Central Business District, Construction, Development, Hotel & Hospitality • 4505

The new $35 million Cambria Hotel & Suites at 632 Tchoupitoulas St. started taking reservations in October, and has an invite-only grand opening scheduled for January 11, 2018. The hotel is located in the Warehouse District. Developers Fillmore Capital Partners and Fillmore Hospitality broke ground on the project in 2015. “This is another important milestone [&hellip
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DXC Technology Signs New Lease in Downtown New Orleans For Its Possible 2,000 Employees

December 21, 2017 • Central Business District, Office • 5895

Today, DXC Technology, the technology firm that will be hiring 2,000 employees in New Orleans, announced that they had signed thee lease for their Technology Center at the Freeport McMoRan Building, at 1615 Poydras Street across from the Mercedes-Benz Superdome. DXC will occupy two floors and will begin operating in the building in January. Ultimately, [&hellip
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