$30M American Can Apartments Headed for Upgrades

The 268-unit American Can Apartments, which sold for an impressive $30.8 million in the fall of 2013, is headed for some upgrades, as per the original intent of new owner Audubon Communities Management

The 268-unit American Can Apartments, which sold for an impressive $30.8 million in the fall of 2013, is headed for some upgrades, as per the original intent of new owner Audubon Communities Management, reported Canal Street Beat. The proposed upgrades, the cost of which has yet to be disclosed, include new signage, new screens, new glass in bay openings, a new retail and parking configuration, and a new raised walkway and sidewalk, according to paperwork filed with the New Orleans Historic District Landmark Commission (HDLC). The reconfiguration of retail and parking spaces will see the addition of 1,804 square feet of retail, for a total of 20,759 square feet and the reduction of parking from a total of 76 spaces to 67. The redevelopment is signed by local architecture firm Eskew+Dumez+Ripple.

The work — which targets retail façade upgrades, improving curb appeal and pedestrian circulation — was met with somewhat mixed feelings by the HDLC’s Architectural Review Committee (ARC), which agreed that the originally filed plans would turn the historic loading dock of the landmark building into a homogeneous strip mall. According to a letter sent to the owners, “the redevelopment should use the existing architectural vocabulary reflecting the materiality and proportions of the original industrial building. The ARC did agree, however, that a simplified and uniform glass storefront could recall the open bays characteristic of the original loading dock.” The ARC also made recommendations to reduce the size of the proposed uniform signage.

Located on 3200 Orleans Ave., the former can manufacturing facility and warehouse is one of the most sought-after residential addresses in New Orleans. Rents at American Can range between $1,050 and $1,450 for a 570- to 1,030-square-foot one-bedroom apartment. Two-bedroom units that range between 991 and 1,612 square feet rent at a $1,550 to $2,300 monthly rate. The apartment community also offers three-bedroom units. All units are loft style and feature the original hardwood floors and stained concrete, as well as 13-foot floor-to-ceiling windows, kitchen appliances and full-size washer/dryers. Amenities at the downtown apartment complex include an Olympic-style swimming pool, high-end fitness center, landscaped courtyard, covered grill and picnic area, conference and entertainment room, on-site storage, on-site covered and gated parking, and street-level retail.

Click here for further New Orleans market data.

Images via New Orleans One Stop App