The former Warwick Hotel, an abandoned building at Duncan Plaza across from City Hall, is slated for a $60 million redevelopment by the New Orleans Redevelopment Fund.
The New Orleans Redevelopment Fund purchased the 130,000-square-foot building in June.
The former hotel was built in 1952, had been abandoned since before Katrina, and is eligible for state and federal historic tax credits. The building is also in an opportunity zone.
SCNZ Architects and Albert Architecture are the architects on the deal.
The sellers had been asking $18 million for the property.
The New Orleans Redevelopment Fund, led by Development Director Cullan Maumus, has been instrumental in redeveloping the city after Katrina. They’ve had dozens of projects, including the conversion of a mid-city church and a new hotel on Carondelet Street, and recently launched an opportunity zone fund.