Canal Street Beat | New Orleans Real Estate News

Canopy Hotel Conversion To Break Ground in CBD

February 3, 2020 • News • 7143

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 • 3154

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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Dixie Brewing Scheduled to Open This Weekend

January 20, 2020 • News • 4125

Gayle Benson’s $30 million Dixie Brewery will open this weekend, January 25. The 80,000 square foot project at 3501 Jourdan Road will be able to brew and package nearly 100,000 barrels annually. “Our goal was to take advantage of this opportunity zone and create a business that would serve as a catalyst for tourism and [&hellip
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The Westin New Orleans Completes $30M Renovation

January 15, 2020 • News • 5052

The Westin New Orleans announced this week that it completed a $30 million revitalization after changing hands two years ago. The 437-room, 29-story Westin Hotel at the foot of Canal Street was purchased in 2017 the Berger Co, in partnership with Cerberus Real Estate Capital Management, a New York-based investment firm. Renovations included all guest rooms, [&hellip
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Lacey Conway to Succeed Bob Merrick as Latter & Blum’s CEO

January 14, 2020 • News • 4327

Latter & Blum Inc., the largest real estate brokerage firm based in Louisiana and one of the largest in the nation, said Monday that Robert W. “Bob” Merrick will pass the chief executive officer torch to Lacey Merrick Conway. Harry Latter and Joseph Blum founded the company in 1916, and it was purchased by Bob [&hellip
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Major Boutique Hotel Conference Heads to NOLA Next Week

January 10, 2020 • News • 3486

One of the nation’s preeminent boutique hotel conferences will take place in New Orleans next week. The Independent Lodging Congress will hold their INDIE Confab New Orleans on January 13 & 14, 2020 at the Ace Hotel and in the Marigny. INDIE Confab New Orleans is designed to connect creative provocateurs and disruptors from the [&hellip
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Jaeger Rebrands His 19 Hotels Under J Collection Brand

January 7, 2020 • News • 4847

New Orleans developer Joe Jaeger has rebranded his hotel collection as the J Collection. The 19-hotel collection of southern hotels includes recent acquisitions Dunleith Mansion in Natchez, Mississippi, Le Richelieu in the French Quarter, Nottoway Plantation, The Bourbon on Orleans Street, Melrose Mansion on Esplanade Avenue, The Jung Hotel on Canal Street, and The Whitney [&hellip
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Le Meridien New Orleans Hotel Sold for $84.0 Million

December 30, 2019 • News • 6493

Park Hotels & Resorts Inc. (NYSE:PK) announced last week that it closed on the sale of the 410-room Le Meridien New Orleans located in New Orleans, LA, for gross proceeds of $84.0 million, or $205,000. The sale price represents a 5.0% capitalization rate on the Hotel’s projected 2019 net operating income, or 17.1x the Hotel’s [&hellip
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Ampirical Solutions Will Build New HQ on North Shore

December 23, 2019 • News • 4259

St. Tammany Parish-based Ampirical Solutions LLC announced last week that it will build a new, 78,000-square-foot corporate headquarters near Covington. The new facility will be located at the northwest corner of La. 21 and Interstate 12. The project will be three stories over 5.5-acre site. Ampirical is an electrical infrastructure firm that specializes in electrical [&hellip
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New Racquetball & Tennis Sports Facility Planned For Hollygrove

December 19, 2019 • News • 3471

Former Xavier University tennis player and current coach Kevin Chaouat has planned to build a new racquetball and tennis club. Last month, the City Council approved an amendment to the Comprehensive Zoning Ordinance to allows country clubs in residential neighborhoods, which was needed to move the project forward. The New Orleans Racquet Club is designed [&hellip
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