Canal Street Beat | New Orleans Real Estate News

Four Seasons Financing Closes; Investors Revealed (Some From Saudi Arabia!)

September 16, 2015 • Central Business District, Development, Hotel & Hospitality, Public Development • 9477

The team behind the redevelopment of the World Trade Center into a new $364 million Four Seasons hotel has closed on the financing for the hotel and has revealed its list of investors. The redevelopment plan includes a 350-key Four Seasons Hotel, 76 serviced residences, two restaurants, an urban green space on top of two newly constructed [&hellip
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MacPhaille Plans 6 Story Luxury Condo Development on State Street

September 14, 2015 • Condos, Development, Uptown • 11481

Developer Jim MacPhaile has released plans to develop the corner of Tchoupitoulas and State Street into high end luxury condos, according to emails and flyers he sent out last week asking for support. The new development, dubbed 225 State Street, would involve demolishing the “Metairie-style” old red brick buildings at State, Tchoupitoulas and Front Streets that [&hellip
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$8 Million St. Bernard Project Breaks Ground on New Headquarters

September 9, 2015 • Architecture & Design, Development, Mid-City • 7182

The St. Bernard Project (SBP) broke ground on its new headquarters, Toulouse Commercial, which will revitalize a blighted property in the heart of New Orleans. The new 25,000 square foot headquarters will include a construction training lab, which will teach construction skills to at-risk youth and veterans, a warehouse to store supplies and materials for SBP’s rebuilding efforts, and additional [&hellip
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Kenner Developer Plans Three Hotels Near Airport For $40 Million

September 8, 2015 • Development, Hotel & Hospitality, Jefferson Parish, Kenner • 8160

Real estate developer Mike Vira has plans to build three new hotels near the airport. He is asking the City of Kenner to impose new taxes to help him pay for them. According to Vira, the hotels would total $40 million and 350 keys under 3 flags. The first is a 110-key Holiday Inn, and it’s already [&hellip
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Audubon Hotel on St. Charles Avenue To Finally Be Redeveloped

September 3, 2015 • Development, Hotel & Hospitality • 12978

The long-vacant building at 1225 St. Charles Avenue that formerly housed the Audubon Hotel is finally posed for redevelopment. According to records filed with the city, developers Blake Jones and David Gindin will be redeveloping the property into a 30 key hotel, with a small bar and coffee shop. They have secured a 59 year lease [&hellip
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$8 Million Saint Anna’s Redevelopment Hits Market; Only 4 Units Left

September 1, 2015 • Development, Lower Garden District, Multi Family • 5952

The newly redeveloped Saint Anna’s apartments on Prytania Street are finally open, and they look fantastic. The development includes six one-bedroom units, 14 two-bedroom units and three units with three bedrooms. The apartments will range in size from 900 to 1,600 square feet and are being designed for above market rate rents. Developers Felicity Property Company and [&hellip
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$3 Billion Invested Into Building & Retail In Downtown NOLA

August 28, 2015 • Central Business District, Construction, News • 5165

There’s no doubt that downtown New Orleans has been on a roll since Katrina, but did you know that apparently $3 billion has been invested in just the last 10 years? Nola.com has some good coverage on the boom in construction projects downtown, the massive influx of retail, and what it might take to keep [&hellip
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Rejected! 26 Story Hotel Development The French Quarter Gets The Boot

August 27, 2015 • Central Business District, Development, French Quarter, Hotel & Hospitality, Zoning and Land Use • 4988

A proposal to turn a vacant 5 story building into a 26 story hotel in the 100 block of Royal Street, between Canal and Iberville, was rejected this week by the City Planning Commission. Developer Angelo Farrell’s vision for renovating this 5 story building was “shot-down” as they say. Farrell proposed to renovate the building and to add a [&hellip
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City Planning Approves Mid-City Condo Development

August 26, 2015 • Condos, Development, Mid-City, Zoning and Land Use • 6433

On Tuesday, the City Planning Commission approved the development of a 17 unit affordable condo building at 3100 Banks Street, reports Mid-City Messenger. Developers New Orleans Redevelopment Fund and Green Coast Enterprises are seeking to build the 3-story project, and asked for permission to resubdivide two lots into a single property to make it become a reality. The [&hellip
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$55 Million Virgin Hotel Gets City Council Approval

August 24, 2015 • Central Business District, Development, Zoning and Land Use • 7270

Last Thursday, the City Council voted 5-1 to approve the proposed ground-up construction of a new Virgin Hotel at the corner of Baronne and Lafayette Streets. The development had previously been denied by the City Planning Commission because the developers were seeking to build a tower taller than what zoning allowed. The hotel would have 183 [&hellip
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