Canal Street Beat | New Orleans Real Estate News

Wyndham New Orleans French Quarter Completes Multi-Million Dollar Renovation

February 6, 2015 • Hotel & Hospitality • 5222

The Wyndham New Orleans French Quarter at 124 Royal Street today announced the completion of its multi-million dollar renovation. The renovation included a complete transformation of the hotel’s aesthetic and functional elements, incorporating more of a modern/contemporary design and furnishings in line with other Wyndham hotels. Work on the hotel included complete renovations of all 374 guest rooms, exterior [&hellip
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City Council Green Lights First French Quarter Hotel in 45 Years

February 6, 2015 • Development, French Quarter, Hotel & Hospitality, News, Zoning and Land Use • 5655

Yesterday, the City Council unanimously approved a the first new hotel in the French Quarter in 45 years. A new 80 room boutique hotel will soon take shape at 111 Iberville Street, despite some protests by the neighborhood. The development would be the first new French Quarter hotel since 1969, when the city issued a moratorium on [&hellip
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Fresh Market To Start Construction of 26,000 Square Foot Metairie Supermarket

February 5, 2015 • News • 12136

The Fresh Market will start construction on its new Metairie grocery store and will open later this year. Last week, a $1.9 million permit was issued for renovations on a 26,000 square-foot retail space at Wilshire Plaza Shopping Center, 755 Veterans Blvd. in Metairie. The Fresh Market renovation is part of a facelift for the entire shopping [&hellip
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City to Announce Copa Airlines as MSY’s Newest International Carrier Today

February 5, 2015 • Economic Development, Kenner, Uncategorized • 8808

Today Mayor Landrieu will join the New Orleans Aviation Board to introduce a new international airline offering service from Louis Armstrong New Orleans International Airport. Copa Airlines will be this new airline. It will offer 4x a week service to Panama City , Panama. This will be the first scheduled nonstop to Central America in [&hellip
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Doubletree Hotel Acquired for $85 Million ($232,000/key)

February 4, 2015 • Acquisitions, Central Business District, Hotel & Hospitality • 7448

The Doubletree New Orleans near the foot of Canal Street has been acquired by Walton Street Capital for $85.25 million, or $232,000 per key. According to the Orleans Parish records, the deal included $72.8 million in loans from Starwood Property Mortgage. Walton Street Capital recently purchased another Double Tree Hotel, paying $70 million for the Nashville [&hellip
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Bruno Completes $20+ Million Non Recourse Refi of Five Multifamily Properties

February 4, 2015 • Finance & Lending, Multi Family, News • 10539

New Orleans Developer Josh Bruno of Bruno, Inc. has completed a refinancing of a portfolio of five multifamily properties located in New Orleans, worth “well north” of $20 million. The properties that received financing included: Washington Place Apartments (25-units), Liberty Park Apartments (10-units), Forest Park Apartments (20-units), Riverview Apartments (45-units) and Cypress Park Apartments (65-units). The [&hellip
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Gateway Mortgage Enters Louisiana, Hires Gulf Coast Bank Vet to Lead NOLA Office

February 3, 2015 • Finance & Lending, News • 730324

Gateway Mortgage Group, a privately held mortgage company offering originations, servicing and correspondent lending, has entered the Louisiana market with a new retail branch located at 4404 Saint Peters Street in New Orleans. Gateway is based in Tulsa, Oklahoma. The new office will be lead by industry veteran Judy Pelitere, who most recently served as [&hellip
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Marriott’s Moxy Hotels Coming to Downtown New Orleans (With Renderings!)

February 2, 2015 • Central Business District, Development, Hotel & Hospitality • 13658

Last week, Marriott announced in a press release that they will be bringing their Moxy Hotel flag to New Orleans. The first possible location will be at 744 St. Charles Avenue in the warehouse district. According to city records, developers are proposing an 8 story, 85 foot hotel at the location. Lenny Wormser with NAI Latter and Blum [&hellip
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4,200 Square Foot Coworking Space Opens at Myrtle Banks

February 2, 2015 • Central City, Development, News, Office • 8956

In January, Alembic Community Development opened a 4,200-square-foot co-working space on the third floor of the Myrtle Banks Building on Oretha Castle Haley Blvd., which it has redeveloped into a fresh food market and office space targeting nonprofit, social and creative entrepreneurs. Alembic’s new coworking space joins Launchpad, Beta, Propeller Icehouse, and a host of other coworking spaces [&hellip
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Pontchartrain Hotel Renovation Plans Revealed (2031 St Charles Avenue)

January 30, 2015 • Food & Beverage, Garden District, Hotel & Hospitality, Renovation • 15048

Plans were filed with the city this month for renovations to the Pontchartrain Hotel in the Garden District. The new owners, AJ Capital out of Chicago, plan to revive the hotel’s entertainments spaces as well as upgrade the guest rooms. Minor modifications to the exterior are planned as well. The hotel is probably best known [&hellip
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