Canal Street Beat | New Orleans Real Estate News

Le Pavillon Hotel Sold For $62.5M To Dallas Firm

June 15, 2015 • Acquisitions, Central Business District, Hotel & Hospitality • 7639

Dallas-based Ashford Hospitality Trust, Inc. announced last week that they had acquired the 226-room Le Pavillon Hotel for 62.5 million in cash ($277,000 per key, slightly above the listing price of $275,000/key). The hotel at 833 Poydras St. features approximately 7,800 square feet of meeting space across nine rooms. Remington Lodging is now the property manager. Financing [&hellip
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An Inside Peak At The Future Of NOLA’s Public Transportation: This Weekend’s ULI Pub Crawl

June 12, 2015 • Parks & Public Spaces, Public Development, Transportation • 4348

Our friends at the Urban Land Institute (ULI) of Louisiana and RIDE New Orleans are hosting a “transit” pub crawl through the city tomorrow. The tour will feature two of the city’s top experts on the future of transit, and will give attendees an inside look at the future of public transportation and some of the issues that the city [&hellip
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Ochsner Plans $250 million Expansion, Including 6 Story Addition to Current Complex

June 11, 2015 • Construction, Healthcare, Jefferson Parish • 6747

Oschner Health System yesterday (June 10, 2015) unveiled an ambitious new $250 million plan to add six stories to the hospital primary complex on Jefferson Highway, along with several other expansions. Ochsner opened its main building in 1954, which has since underwent several expansion in 1960, 1975, 2000, and 2005. The renovations in 2000 and 2005 added [&hellip
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A New Virgin Hotel Is Coming to Downtown NOLA!

June 9, 2015 • Central Business District, Development, Hotel & Hospitality • 10911

Developers have submitted plans for a proposed 14 story Virgin Hotel on a parking lot at 550 Baronne St. n the CBD. Developers Gatehouse Capital and David Garcia are rumored to be behind the new 125,000 square-foot hotel that would feature 183 rooms and roof top bar under the Virgin Hotel flag. The Gatehouse & Garcia [&hellip
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NOLA’s Tallest Building One Shell Square Trades in $416 Million Deal

June 9, 2015 • Acquisitions, Central Business District, Office • 6152

One Shell Square, the tallest and biggest office building in New Orleans and Louisiana, was acquired by the Los Angeles-based Hertz Investment Group. Hertz announced yesterday that they purchased the building as part of an approximately $416 million, 5 building deal with Equity Commonwealth. The deal included office buildings in Birmingham, Ala., Columbia, S.C., and Greensboro, N.C. In total, Hertz [&hellip
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100 NOLA Adjudicated Properties Up for Auction July 1

June 5, 2015 • Public Development • 3969

This city is selling off roughly 1,600 of properties it’s adjudicated over the years through an online process, and the first auction of 100+ properties go up for sale on July 1. The rules allow interested buyers to place a $650 deposit on a property, which kicks off a 90 day period for the city’s contractor [&hellip
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Old No. 77 Hotel & Chandlery Opens After $14MM Reno

June 3, 2015 • Central Business District, Hotel & Hospitality • 5451

The old Ambassador hotel, under new ownership of Provenance Hotels and GB Lodging, has officially reopened as the The Old No. 77 Hotel & Chandlery after a $14 million renovation. The owners bought the hotel at Tchoupitoulas and Lafayette streets last year from hotelier Warren Reuther. The property underwent a full renovation, including an expansion to 167 rooms, and a brand new [&hellip
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Proposed Mid-City Boutique Hotel Gets Planning Commission Approval

June 2, 2015 • News • 3942

Developer Dr. Narinder Gupta’s proposed 122 room Hotel Loren on Canal Street earned unanimous support from the City Planning Commission this week. The project now just needs final approval from the City Council to become a reality. Yesterday, the Mid-City Messenger reported that the Planning Commission approved the 47,000-square-foot development, including the addition of two new floors. Gupta purchased the [&hellip
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Faubourg Marigny Improvement Association Sues City to Prevent New Zoning Law

June 1, 2015 • Zoning and Land Use • 5562

The Faubourg Marigny Improvement Association has sued the City of New Orleans in an attempt to prevent a provision that was added at the last minute in the city’s new zoning law. Specifically, the group wants to prevent a last-minute amendment added byMayor Mitch Landrieu that would allow taller and more dense residential buildings along the [&hellip
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List of New Orleans’ Nine Most Endangered Historic Sites Released

May 29, 2015 • Architecture & Design, News • 8738

The Louisiana Landmarks Society on Thursday (May 28) released the 2015 New Orleans Nine, which is their annual list of the nine most endangered historic sites in New Orleans. The group’s goal is to make the public aware of the historic places so they can be saved, along with publicity for historic sites, advocacy for historic preservation, [&hellip
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