NEW ORLEANS | Project/Development Thread

[tennis1400]

[tennis1400]

[tennis1400]

[FenderOz]

Beautiful picture, Tennis. Thank you!

[polemic]

Originally Posted by FenderOz

Beautiful picture, Tennis. Thank you!

Seconded. Tennis, you don't hear it enough, but those of us who are New-Orleans-Real-Estate-Obsessed-Louisianians-in-Exile really appreciate all that you do!

[tennis1400]

Originally Posted by polemic

Seconded. Tennis, you don't hear it enough, but those of us who are New-Orleans-Real-Estate-Obsessed-Louisianians-in-Exile really appreciate all that you do!

Thanks guys ! Really appreciated.

[tennis1400]

wont be able to post too much until city websites are back working after the cyberattack...

[York1]

Originally Posted by FenderOz

Beautiful picture, Tennis. Thank you!

I agree!

[onlyinnola]

Any idea on the status of the streetcar track replacement in the CBD? It seems like the work has stopped, yet there are still blocks that are untouched. The lack of streetcar service (on all the lines) has become frustrating.

[Gee32]

Does anyone have any update on the CBD's office vacancy and the overall market? I've noticed that 1010 common is going under renovation and the old Charity Hospital building which is 1,000,000 Square feet will be mostly filled by Tulane and some CoWorking space. Could 1010 common be the new home for First Horizon's bank regional HQ? In most cities when large buildings that are being renovated or filled there is usually an announcement of a new company to the area or new office space is planned and or built. so is that the case for Nola? Also is there another office tower in Nola that can house a major office job announcement, of lets say 500-3000 jobs? Seems to me Nola Office space is getting slim quicker.

[SlidellWx]

Originally Posted by Gee32

Does anyone have any update on the CBD's office vacancy and the overall market? I've noticed that 1010 common is going under renovation and the old Charity Hospital building which is 1,000,000 Square feet will be mostly filled by Tulane and some CoWorking space. Could 1010 common be the new home for First Horizon's bank regional HQ? In most cities when large buildings that are being renovated or filled there is usually an announcement of a new company to the area or new office space is planned and or built. so is that the case for Nola? Also is there another office tower in Nola that can house a major office job announcement, of lets say 500-3000 jobs? Seems to me Nola Office space is getting slim quicker.

Latest data is from Q2 2019. Plenty of space in 1515 and 1555 Poydras, but those buildings are being converted to mixed-use facilities.

https://www.srsa-realestate.com/wp-c...Absorption.pdf

[tennis1400]

Originally Posted by onlyinnola

Any idea on the status of the streetcar track replacement in the CBD? It seems like the work has stopped, yet there are still blocks that are untouched. The lack of streetcar service (on all the lines) has become frustrating.

The stopped work on some areas because they are building new street car stations as well as probably waiting til after mardi gras to start the st charles ave portion

[FenderOz]

Originally Posted by Gee32

Does anyone have any update on the CBD's office vacancy and the overall market? I've noticed that 1010 common is going under renovation and the old Charity Hospital building which is 1,000,000 Square feet will be mostly filled by Tulane and some CoWorking space. Could 1010 common be the new home for First Horizon's bank regional HQ? In most cities when large buildings that are being renovated or filled there is usually an announcement of a new company to the area or new office space is planned and or built. so is that the case for Nola? Also is there another office tower in Nola that can house a major office job announcement, of lets say 500-3000 jobs? Seems to me Nola Office space is getting slim quicker.

Seems like we’re seeing the last chunks of office space consolidation with new hospitality/residential projects in the old Whitney Bank building, 1010 Common, 1550 Poydras, and 1515 Poydras. Not sure what other large office spaces are left to be converted, but without large local expansions and no big new projects being announced, the office market will likely stay stagnant as is... DXC still has a lot of room to grow in their building with 400 of 2000 promised jobs filled so far.

I imagine First Horizons will just use the custom built space IberiaBank already built in the Pan Am building. Would be surprised to see any major local expansion in the near future... and when banks like this merge you’re lucky to see no relocation/contraction in terms of jobs and rented office space.

[tennis1400]

Originally Posted by FenderOz

Seems like we’re seeing the last chunks of office space consolidation with new hospitality/residential projects in the old Whitney Bank building, 1010 Common, 1550 Poydras, and 1515 Poydras. Not sure what other large office spaces are left to be converted, but without large local expansions and no big new projects being announced, the office market will likely stay stagnant as is... DXC still has a lot of room to grow in their building with 400 of 2000 promised jobs filled so far.

I imagine First Horizons will just use the custom built space IberiaBank already built in the Pan Am building. Would be surprised to see any major local expansion in the near future... and when banks like this merge you’re lucky to see no relocation/contraction in terms of jobs and rented office space.

New office space will come in mixed use buildings, certainly not large scale office only buildings which are out of vogue now anyways. Plus its nice for a city to have 24/7 buildings instead of large blocks empyt and dead for large amount of hours. i do think the cambria project is dead now and they are moving office tenants into that building from next door instead

[Nickapedia]

Originally Posted by Gee32

Does anyone have any update on the CBD's office vacancy and the overall market? I've noticed that 1010 common is going under renovation and the old Charity Hospital building which is 1,000,000 Square feet will be mostly filled by Tulane and some CoWorking space. Could 1010 common be the new home for First Horizon's bank regional HQ? In most cities when large buildings that are being renovated or filled there is usually an announcement of a new company to the area or new office space is planned and or built. so is that the case for Nola? Also is there another office tower in Nola that can house a major office job announcement, of lets say 500-3000 jobs? Seems to me Nola Office space is getting slim quicker.

Some hotel finance guys i work with confirmed they are working on a hotel deal in 1010 common. So no new office expansion there but instead they will convert a large portion (maybe all of it) of the building into a dual branded hotel.

[tennis1400]

Originally Posted by Nickapedia

Some hotel finance guys i work with confirmed they are working on a hotel deal in 1010 common. So no new office expansion there but instead they will convert a large portion (maybe all of it) of the building into a dual branded hotel.

I am pretty sure one brand will be the Fairmont there. Also heard Thompson for the Whitney building. The dual hotel brand concept seems to be taking off in NOLA with one open and at least two more in the pipeline.

[FenderOz]

Originally Posted by tennis1400

New office space will come in mixed use buildings, certainly not large scale office only buildings which are out of vogue now anyways. Plus its nice for a city to have 24/7 buildings instead of large blocks empyt and dead for large amount of hours. i do think the cambria project is dead now and they are moving office tenants into that building from next door instead

Interesting tidbit! So 1555 will stay all office and 1515 will be mix use?

[tennis1400]

Originally Posted by FenderOz

Interesting tidbit! So 1555 will stay all office and 1515 will be mix use?

seems to be the case from permitting activity ... and calling 1515 mixed use in the sense it will be condos apartments and retail and short term rentals with associated amenities... with some office space... its same owner for both so looks to me their intention now is to consolidate all office space in one of the two towers and redo the other into a large residential and hospitality building.
While we saw renderings of the cambria project we never had any plans show up at the city. My guess is that was original project and they changed to this. still could happen though that there is a small hotel in 1555 but no plans have been filed other than office construction

[tennis1400]

[sguil1]

https://www.nola.com/news/education/...35e696a6b.html

Among other projects, Tulane hopes to continue investment downtown, where it already occupies 17 buildings, by becoming an anchor tenant in the redevelopment of the old Charity Hospital. Between that and other downtown expansions, the school aims to take up at least 500,000 square feet of laboratories, clinical space, student housing, classrooms and more.

In doing so, Fitts said, Tulane aims to play an even bigger role in New Orleans, much in the way that he said universities in Pittsburgh and Nashville have revitalized their hometowns and vaulted them to greater national prominence.

"New Orleans is a better and more vibrant city because of Tulane, and Tulane is a better and more attractive university because of New Orleans," he added. "The futures of the two are linked."

Nothing really new in the article (mostly Tulane patting itself on the back or trying to overcompensate for something... can't tell which) but does re-affirm the charity project