by CSB Staff •
October 2, 2015 •
Acquisitions, Central Business District, Development, Hotel & Hospitality •
Comments (0) •
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Dallas-based hotel developer NewcrestImage announced that they acquired the building at 1600 Canal Street, formerly known as the UNO Technology building. NewcrestImage most recently developed and sold the AC Hotel at the former Cotton Exchange building in the CBD.
The company plans a total renovation of the 13 story building into a 105-key Marriott TownePlace Suites for extended-stay guests, and a 78-key Marriott SpringHill Suites, which will focus on business travelers.
The hotels will share a lobby, registration desk, breakfast area and a bar. They are also building what sounds like a pretty amazing 8,000 square foot roof top bar, garden, and exercise room.
“New Orleans is a vibrant destination, and this new project will offer travelers a distinctive new option in local style and spirit,” Mehul Patel, NewcrestImage chairman and CEO, said in the release.
The building was built in the 1960s and has sat empty since Hurricane Katrina. UNO sold the building to 1600 Canal LLC for $1 million in 2013. The building was listed at $6,000,000.
Randy Argote with Don Randon Real Estate, Inc. was the listing broker.
