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Plaza Tower to Become M-U Community; Stirling to Break Ground in St. Tammany

Plaza Tower to Become M-U Community; Stirling to Break Ground in St. Tammany

By Amalia Otet, Associate Editor The long-vacant Plaza Tower, third-tallest building in both New Orleans and the state of Louisiana, recently sold for $650,000 to a local commercial real estate manager at a private auction. The sale was conducted by a [...]…

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Development, Redevelopment Projects Move Forward in Metro Area

Development, Redevelopment Projects Move Forward in Metro Area

By Amalia Otet, Associate Editor Poydras Home, a nonprofit retirement community serving greater New Orleans, recently announced plans to break ground on a new assisted living residence Uptown in January 2012. The Poydras community sits on a three-and-a-half acre site at Magazine [...]…

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Partnership to Redevelop Hibernia Bank Building as Mixed-Use

Partnership to Redevelop Hibernia Bank Building as Mixed-Use

By Amalia Otet, Associate Editor HRI Properties and Woodward Interest have secured financing for the conversion of the Hibernia Bank Building downtown into a mixed-used complex. The $57.3 million redevelopment project will include 175 luxury apartments and two floors of Class A [...]…

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New Orleans Hospitality to Get Major Makeover

New Orleans Hospitality to Get Major Makeover

By Amalia Otet, Associate Editor Newton, Mass.-based Hospitality Properties Trust recently announced it has entered a deal to purchase the entity that leases the Royal Sonesta Hotel in New Orleans. The transaction, bearing a price tag of approximately $150.5 million, also [...]…

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Morial Convention Center to Undergo Major Facelift; Airport Unveils Brand-New Concourse D

Morial Convention Center to Undergo Major Facelift; Airport Unveils Brand-New Concourse D

By Amalia Otet, Associate Editor The New Orleans Ernest N. Morial Convention Center – the sixth-largest Convention Center in the nation – is about to get a major facelift that will result in the largest ballroom in New Orleans to offer [...]…

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Century-Old Marigny Building to Convert to M-U Apartments

Century-Old Marigny Building to Convert to M-U Apartments

By Amalia Otet, Associate Editor Julian Doerr Mutter, president & CEO of Doerr Furniture, recently announced plans to redevelop the three-story brick building at 511 Marigny St. and transform it into 48 apartments with commercial space on the ground floor. Built in [...]…

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Hyatt Regency New Orleans to Reopen after $275M Rebuild

Hyatt Regency New Orleans to Reopen after $275M Rebuild

By Amalia Otet, Associate Editor One of the city’s landmark hotels, Hyatt Regency New Orleans, will re-open its doors Oct. 19 as the anchor of the vibrant Sports and Entertainment District. Opened in 1976, a year after the Superdome, the hotel was [...]…

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One Shell Square Sold to Massachusetts REIT for $102M

One Shell Square Sold to Massachusetts REIT for $102M

By Amalia Otet, Associate Editor Newton, Mass.-based CommonWealth has turned its attention to New Orleans, making its first acquisition in the area. The real estate investment trust, which primarily focuses on office and industrial properties in major metropolitan markets, purchased One Shell [...]…

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Healthcare Leads Way to Economic Recovery in New Orleans

Healthcare Leads Way to Economic Recovery in New Orleans

By Amalia Otet, Associate Editor New Orleans is slowly advancing toward becoming a medical hub, with the official opening of the state-funded, $47 million BioInnovation Center. The new state-of-the-art building is located between the Greater New Orleans Biosciences Economic Development District and [...]…

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Chateau Bourbon to Become Hyatt French Quarter Hotel

Chateau Bourbon to Become Hyatt French Quarter Hotel

By Amalia Otet, Associate Editor The Chateau Bourbon Hotel of New Orleans is about to get a major makeover. Carey Watermark Investors Inc., a real estate investment trust mainly focused on acquiring properties in the lodging and lodging-related sectors, recently closed on [...]…

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HUD Awards $30.5M Grant for Public Housing Redevelopment

HUD Awards $30.5M Grant for Public Housing Redevelopment

By Amalia Otet, Associate Editor State and local government efforts to rebuild the city’s economy seem to finally be paying off: New Orleans is included in an index that highlights the areas that have recorded steady improvement over the past six [...]…

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Audborn Building Restored to Accomodate Saint Hotel

Audborn Building Restored to Accomodate Saint Hotel

By Amalia Otet, Associate Editor New Orleans’ hospitality industry was in dire need of revitalization following the economic downturn and Hurricane Katrina. Several projects meant to bring the city back to its former glory have been launched in the past few [...]…

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