The Domain Companies has secured financing for the $40 million Beacon at South Market. The project commenced construction earlier this month and will feature 126 Class-A apartments and 20,000sf of retail space. The Beacon will join The Paramount and The Park as the third addition to the burgeoning South Market District development.
“It is exciting to see the continued successful development of the South Market District with the addition of The Beacon,” said DDD President & CEO Kurt Weigle. “This new Downtown neighborhood is a major milestone for us. It expands Downtown’s already impressive selection of amenities and enhances Downtown’s vibrant street life.”
“We are excited to continue our momentum at South Market and throughout Downtown,” said The Domain Cos Principal Matt Schwartz. “The future of Downtown New Orleans is incredibly bright. South Market is attracting tremendous interest from prospective residents and retailers alike. We look forward to watching the area transform into a vibrant community over the coming months”
The Beacon will feature a masonry and metal panel exterior that draws from the area’s historic warehouse and commercial architecture to create a modern but contextual design. A unique architectural feature will define the center of the building along Girod, as a large 4,350sf landscaped courtyard gradually slopes up from street-level to a second floor courtyard through a series of stepped landings with seating.