The historic Economy Iron Works site in the CBD, founded in 1922, is being redeveloped into Mint House New Orleans-Riverside, a 15 unit apartment-style hotel with studios, one and two-bedrooms.
Each unit will include a full kitchen, workspace and an in-suite laundry. The size of the units will range from 400 square feet to 1,200 square feet. Amenities will include a fitness center, rooftop lounge and pre-stocked groceries based on a grocery list guests can send staff. Each unit also has a fitness MIRROR for live workouts.
Although the exterior of the property still sports graffiti, Lucas said he still expects a completion date by the end of the year but added there were some delays and supply chain issues resulting from Hurricane Ida.
Construction started in June 2020 and should finish by the end of the year. Walter “Beau” Baudier III is the developer. Baudier is a well-known New Orleans-based developer who is known for redeveloping historic properties downtown, including 419 Carondelet. He is also developing a project in San Antonio, Texas.
Mint House is based in New York and has 19 properties in 10 markets. The company has recently raised a fresh round of funding and has big expansion ambitions next year, planning to add 3,000 units in 30 markets.