Downtown Investment Sees 35% Increase in 2018

In 2018, permits for $566,877,871 worth of construction were issued by the City of New Orleans for Downtown construction projects, representing 316 individual projects, with Canal Street projects representing $300,284,483 of the total. This is a 35% increase over 2017’s 308 permits that were valued at $419,593,490.

“Half a billion dollars in a single year is impressive no matter how you stack it, especially when you consider that this figure represents construction alone,” said DDD President & CEO Kurt Weigle. “This amount of construction spending is generally accompanied by well over $100 million of soft cost spending on items like architecture, engineering, legal, financial and other services before construction starts. This is the untold story. Downtown neighborhoods continue their impressive growth, and the DDD is honored to play its part to grow jobs, wealth and tax base for New Orleans.”

Here is a snapshot of just some of the projects:

The Higgins Hotel and Conference Center

The National WWII Museum broke ground on its new $66 million hotel located at Andrew Higgins Drive and Magazine Street. The 234-room hotel will also have a 22,000 square-foot conference center, to open in 2019.

HI New Orleans Hostel

Hosteling International New Orleans will turn the former Pickwick Social Club located at 1028 and 1036 Canal Street into a 122-bed hostel with a community space. Twenty-four of the rooms will be reserved for single lodging. Opening Spring 2019.

The New Orleans Culinary and Hospitality Institute

The $32 million New Orleans Culinary and Hospitality Institute, housed in 725 Howard Avenue, features two culinary teaching labs, two baking and pastry labs, a restaurant lab, a wine and spirits lab, a large event center, public and traditional classrooms and offices, and a café. It also houses the programs of Tulane University A.B. Freeman School of Business Stewart Center for Executive Education. The project opened January 2019.

Sazerac Company’s Beverage Museum

The Sazerac Company’s upcoming beverage museum and headquarters located at 500 Canal Street will showcase a variety of spirits and beverages, including the Sazerac, a cocktail native to New Orleans. Designed by Trapolin-Peer, and constructed by Ryan Gootee, it is expected to open in Spring 2019.

731 St. Charles Avenue

This addition to the Lafayette Square neighborhood will bring 67 condominiums to be occupied in 2019. It is being built using the structure of a former office building and parking garage. The residences will have one to two bedrooms, access to a private balcony or to a private courtyard, a rooftop entertainment area, a swimming pool, and a sun deck. Units have between 735 and 1,552 square feet and start at $400,000.

Four Seasons Hotel and Residences

The $465 million renovation of the former World Trade Center on Canal Street will reopen in 2020 as a Four Seasons Hotel and Residences. The project will include 335 hotel rooms and 92 residences, which will occupy the upper 13 floors of the building, as well as more than 106,000 square feet that will house amenities and facilities. A new $33 million parking garage will serve the project’s parking needs.

Hard Rock Hotel New Orleans and Residences

This 18-story building will have 350 hotel rooms, and 62 residential units that will range between one and three bedrooms. The décor will feature local music memorabilia. Other highlights include its 12,000 square feet of event space, a rooftop bar, ground-floor lounge, and an additional lounge on its eighth floor.

The Odeon

The Domain Companies have begun construction on this 29-story apartment building in the South Market District featuring 271 apartments. Taking the place of a surface parking lot, this 414,000-square-foot tower will be bounded by Loyola Avenue, Julia, Girod and S. Rampart streets.

The Garage

This $49 million renovation of a former car dealership and parking garage will feature 51 market-rate apartment units and 11 condos. 21,000 square feet of commercial space will occupy the first floor. The hallmark of the project will be two car elevators that will bring residents and their vehicles to their upper floor residences.

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