Canal Street Beat | New Orleans Real Estate News

NORF Closes Financing For Former Warwick Hotel Redevelopment

April 2, 2020 • News • 4852

The New Orleans Redevelopment Fund just closed a $45 million financing package to convert the former Warwick Hotel into a mixed-use complex for Tulane University faculty and staff. The construction financing was provided by Hancock Whitney Bank and a historic tax credit bridge loan by Midland State Bank. The New Orleans Redevelopment Fund purchased by [&hellip
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$85 Million Luxury High-Rise Opens Downtown

March 10, 2020 • News • 7163

Provident Realty Advisors has opened Canal 1535, the $85 million, 330-unit luxury high-rise in New Orleans. Formerly called Canal Crossing, the property broke ground in 2017. The Canal Street property offers contemporary one- and two-bedroom units with high-end finishes including custom cabinetry, quartz countertops, vaulted ceilings and private balconies in select units. Amenities include a [&hellip
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St. Margaret’s Refinances Mid-City Nursing Facility

March 6, 2020 • News • 4709

St. Margaret’s Daughters Home, a nonprofit skilled nursing facility located in Mid-City on the site of the former Lindy Boggs Medical Center, was refinanced recently. St. Margaret’s Daughters Home features 100 rooms designed for occupancy by up to 112 residents. PGIM Real Estate Finance provided the $10.7 million HUD loan to refinance the 2013 facility. [&hellip
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Former Warwick Hotel Slated For Tulane Mixed-Use Complex

March 1, 2020 • News • 6006

Tulane University announced that the former Warwick Hotel, an abandoned building at Duncan Plaza across from City Hall, which was purchased by the New Orleans Redevelopment Fund last summer, will be converted into a new Tulane mixed-use building for medical staff and students. Tulane will lease the entirety of the building, including all planned 154 [&hellip
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$52M Mixed-Use Complex ‘The Garage’ Opens Downtown

February 19, 2020 • News • 5795

“The Garage,” a $52 million project by developer Marcel Wisznia opened in December. The project is located in the former Stephens Garage at 840 Carondelet St. and has 51 one- and two-bedroom apartments on the second through fourth floors that range from 766 square feet to 1,699 square feet. Monthly rents are from $1,950 to [&hellip
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Pan-American Life Center Getting $7MM In Upgrades

February 17, 2020 • News • 6549

The Class A Pan American Life Center, a 673,000-square-foot office building located at the corner of Poydras Street and St. Charles Avenue, will be undergoing $7 million in upgrades to its 11th floor café and conference center and ground-floor lobby. The building’s property manager, Covington-based Stirling Properties, announced that construction is currently underway that will include [&hellip
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New Central City Library Opens on Jackson Avenue

February 10, 2020 • News • 5068

The City’s new library branch in Central City opened last week, on February 5th. The new location is at 2020 Jackson Ave., is housed in a portion of the Allie Mae Williams Multi-Service Center. It will feature public computers for community use and dedicated areas for younger children and teens. In addition to more 2,500 [&hellip
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Leaaf Environmental Opens New Million Dollar HQ in Gretna

February 5, 2020 • News • 3818

Environmental consulting firm Leaaf Environmental is opening a new $1 million headquarters in Gretna. Leaf held a ribbon-cutting ceremony last week at the new facility at 2301 Whitney Ave. in Gretna. The new office features 5,600 square feet of office space and 1,900 square feet of warehouse space. Financing was provided by JEDCO’s SBA 504 [&hellip
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Canopy Hotel Conversion To Break Ground in CBD

February 3, 2020 • News • 7137

Nearly five years after purchasing the former Oil & Gas Building for $7 million in downtown New Orleans, developers say they are ready to break ground this month. Maryland-based hotel firm Baywood Hotels has teamed up with Dallas-based NewcrestImage to convert the former office building into a 176-room Canopy by Hilton. The hotel is scheduled [&hellip
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Developer Secures Refinancing For Mid-City Church Conversion Project

January 27, 2020 • News • 3137

The New Orleans Redevelopment Fund has secured a new loan for its redevelopment project at 131 S. Jefferson Davis Pkwy., which involved the conversion of the former First United Baptist Church into apartments. The multi-million dollar project, which was initially approved back in 2016, successfully saw the transformation of a run down church into 20 [&hellip
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