Canal Street Beat | New Orleans Real Estate News

Turnbull Bakeries Redevelopment Secures Final City Approval

June 22, 2015 • Lower Garden District, Zoning and Land Use • 5273

The New Orleans City Council last week approved a developer’s plan to demolish the former Turnbull Bakeries warehouse in the Irish Channel and replace it with 15 brand new luxury single-family houses. The project received the blessing from the City Planning Commission three weeks ago. Developers Nicole Webre and Bo Pennington were seeking a zoning change from light industrial [&hellip
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Mid-City Boutique Hotel Wins Council Approval

June 19, 2015 • Hotel & Hospitality, Mid-City • 4312

Developer Dr. Narinder Gupta’s proposed 122 room Hotel Loren on Canal Street won its final approval from the New Orleans City Council Thursday (June 18). The approval comes one week after the developer secured the blessing of the City Planning Commission. unanimous support from the City Planning Commission this week. The project now just needs final approval [&hellip
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Netchex To Lease 30,000 Feet, Expand HQ & Create 240 New Jobs

June 18, 2015 • Northshore • 6053

Netchex, the payroll services company headquartered in Mandeville, announced today that has leased 30,000 square feet and plans to spend $5.3 million on its new HQ in Mandeville. The company has not yet released the location for the new HQ. The company plans to hire an additional 240 people at the new offices. According to [&hellip
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Lafitte Greenway is 94 Percent Done!

June 17, 2015 • Mid-City, Parks & Public Spaces, Public Development • 5092

According to the City of New Orleans, the long-awaited Lafitte Greenway is almost here! The Department of Public Works announced yesterday that the project is 94 percent complete. The Lafitte Greenway, a 2.6-mile multi-use trail, bike path, and linear park connecting the French Quarter to Bayou St. John and Mid City, will finally break ground March [&hellip
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Luxury Warehouse District Development Granaio Lofts Wins City Council Approval

June 16, 2015 • Central Business District, Development, Warehouse District • 8650

Josh Bruno’s Warehouse District luxury development Granaio Lofts has finally been approved by City Council after over a year. The project received a 6-0 favorable vote in addition to the council members commending the team on the updated design. “The meeting couldn’t have gone much better,” Bruno told CSB. ‘The council was very receptive to [&hellip
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Le Pavillon Hotel Sold For $62.5M To Dallas Firm

June 15, 2015 • Acquisitions, Central Business District, Hotel & Hospitality • 7831

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 • 4495

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 • 6930

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 • 11143

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 • 6333

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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