NEW ORLEANS | Project/Development Thread

[tennis1400]

621 Elysian Fields Ave·HDLC COA · Ref Code:LHFKMV
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Type:
HDLC COA
Applicant:
Katie Minor
Status:
Information Needed
Date Filed:
4/20/2023
Closed:
No
Description:
New Hotel

[tennis1400]

1001 Howard Ave·Interior Demolition · Ref Code:3PFH11
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Type:
Interior Demolition
Applicant:
Trison Construction
Status:
Zoning Review
Date Filed:
4/26/2023
Closed:
No
Description:
Demo interior office spaces







1000 Howard Ave·Interior Demolition · Permit #23-09622-DEMI · Ref CodeMMB02
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Type:
Interior Demolition
Applicant:
John Dauer
Status:
Permit Approved
Date Filed:
4/11/2023
Closed:
No
Description:
Interior demolition at 1000 Howard Ave. No use or occupancy. Renovation requires separate permit.

[mousquet]

Originally Posted by tennis1400

Tiki Tock Now Open at the Frenchmen Hotel




https://www.bizneworleans.com/tiki-t...enchmen-hotel/

Cool... That must be a king cobra.

There's nothing wrong with it. As long as you don't bother it, it won't hurt you, huh.

[socigradstudent]

Yes yes yes to French Truck taking over the shuttered Starbucks on Canal!!! Excellent choice.

What exactly is coming to that space on Rampart?

Also--was not expecting that hotel on Elysian Fields. love it!

Three things:
1. I would love to hear/wishful thinking from Domain on the last South Market building.

2. The apartment complex at Canal and Claiborne is a go--yes?

3. Hoping that the project at St.Charles and Louisiana goes through.

Thank you for the updates!!

[York1]

Please Oh Please!

Tell me that is really the Plaza's permit.

[PavelHom]

как раз то, что нужно. вместе мы сможем прийти к правильному ответу. я уверен.

[BlueDot]

I wish they’d just demolish Plaza Tower already. Who knows, maybe that’s what they’re starting to do. My hope is part of that area becomes part of the upcoming Biodistrict.

[tennis1400]

What exactly is coming to that space on Rampart?



I think its this

[Nickapedia]

Originally Posted by York1

Please Oh Please!

Tell me that is really the Plaza's permit.

My guess is this is just related to clean up and possibly securing the site after that recent fire. Unfortunately i think we are years away from seeing any real movement on this site. Hopefully Jaeger will sell it to someone who can make something happen.

[tennis1400]

Originally Posted by Nickapedia

My guess is this is just related to clean up and possibly securing the site after that recent fire. Unfortunately i think we are years away from seeing any real movement on this site. Hopefully Jaeger will sell it to someone who can make something happen.

Given the cost of the permit I suspect its what you say here!

My dream would be for the South Market guys to get their hands on this thing, but I doubt they want the hassle.

[BlueDot]

Why not just demolish it? Clearly Jaeger is not going to re-develop it, nobody wants to buy it, and it’s becoming more and more of a dangerous liability.

[SlidellWx]

Plaza Tower has excellent floor plate sizes (~7500 square feet) for a hotel/apartment redevelopment, and the views would be astounding. Jaeger is so deep in debt at this point, that he has no ability to raise enough capital for a redevelopment of this type. Jaeger indicated that he would be reviewing offers next week, so I remain hopeful that someone sees the potential with this building. The historic tax credits available for redevelopment will definitely help.

I'm actually surprised HRI hasn't jumped on it. They could make it work with their deep ties in the hospitality and apartment industry, and also contribute to their hometown.

[tennis1400]

Originally Posted by SlidellWx

Plaza Tower has excellent floor plate sizes (~7500 square feet) for a hotel/apartment redevelopment, and the views would be astounding. Jaeger is so deep in debt at this point, that he has no ability to raise enough capital for a redevelopment of this type. Jaeger indicated that he would be reviewing offers next week, so I remain hopeful that someone sees the potential with this building. The historic tax credits available for redevelopment will definitely help.

I'm actually surprised HRI hasn't jumped on it. They could make it work with their deep ties in the hospitality and apartment industry, and also contribute to their hometown.

We all forget Joe Jaeger owns it, at least he wants to sell it now. But when he owned it and wasnt trying to sell its no wonder it deteriorated further

[Nickapedia]

Originally Posted by BlueDot

Why not just demolish it? Clearly Jaeger is not going to re-develop it, nobody wants to buy it, and it’s becoming more and more of a dangerous liability.

Demolishing a building of that size would be incredibly expensive. And with HTCs its probably more valuable to a buyer as is than as a piece of dirt. My concern is Jaeger is asking an absurd amount of money for a sale. In todays world with high construction pricing, high interest rates, banking uncertainty its going to be an uphill battle to get someone to pay top dollar for that building. I definitely think it could be repurposed and could work but its more about how difficult it would be to put together a deal of that size in todays market at what Jaegar would actually sell for. HRI is probably the only local buyer that isnt already involved with something large. Domaine is working on their last phase and other big names are occupied with the river district. Maybe an out of town buyer but unlikely right now.

[tennis1400]

I know he purchased the building for $650,000 in 2011, so one would think its just pocket change for him to want to get rid of. I guess adding the cost of that netting to secure the building makes some sense too.

[BlueDot]

Originally Posted by Nickapedia

Demolishing a building of that size would be incredibly expensive. And with HTCs its probably more valuable to a buyer as is than as a piece of dirt. My concern is Jaeger is asking an absurd amount of money for a sale. In todays world with high construction pricing, high interest rates, banking uncertainty its going to be an uphill battle to get someone to pay top dollar for that building. I definitely think it could be repurposed and could work but its more about how difficult it would be to put together a deal of that size in todays market at what Jaegar would actually sell for. HRI is probably the only local buyer that isnt already involved with something large. Domaine is working on their last phase and other big names are occupied with the river district. Maybe an out of town buyer but unlikely right now.

Wishful thinking .. but maybe Jaeger and the folks are at Domain are actually in talks now.

[kingque]

All I know is SOMETHING needs to happen with the Plaza Tower. It's in the way of a ton of potential development in that area.

I really wish that guy would stop with the excuses and sell off his properties. They literally just sit and rot.

[tennis1400]

Originally Posted by kingque

All I know is SOMETHING needs to happen with the Plaza Tower. It's in the way of a ton of potential development in that area.

I really wish that guy would stop with the excuses and sell off his properties. They literally just sit and rot.

Sad but true.

[Nickapedia]

Originally Posted by tennis1400

I know he purchased the building for $650,000 in 2011, so one would think its just pocket change for him to want to get rid of. I guess adding the cost of that netting to secure the building makes some sense too.

I actually think that was a different local group and there was one additional sale between Jaeger and the group that bought it for 650k. I think Jaegar bought for like $6-7 million and then has sunk some substantial additional money into securing it etc so he would be all in for like $9 mill. But from what i hear he wants over $20 million for it. I havent actually seen any listing for it which makes me think the whole announcement of the sale is just to keep the city and press off his back as the building continues to sit and deteriorate further.

[Nickapedia]

Originally Posted by kingque

All I know is SOMETHING needs to happen with the Plaza Tower. It's in the way of a ton of potential development in that area.

I really wish that guy would stop with the excuses and sell off his properties. They literally just sit and rot.

Amen to this. The really aggravating thing is that there was a really good window between say 2015-2019 where the South Market District was gaining momentum, the building was tax credit eligible, money was cheap, construction pricing was substantially cheaper compared with today and residential rental rates were trending up where a deal for some kind of mixed use residential/hospitality deal could have gotten done, or it could have been sold to Domain or some other more competent group and it could have happened. Really unfortunate.