JWR Posted June 2, 2005 Share Posted June 2, 2005 Poydras project has pricey condosSaturday, May 07, 2005By Greg ThomasReal estate writerA partnership of Florida condominium developers is close to finalizing the purchase of a parking lot on Poydras Street on which they plan to build the tallest building in New Orleans.If it works out as they hope, they would construct a 700-foot-tall, 500-unit condominium development, a building that would rise at least 50 stories and dominate the New Orleans skyline. The building is envisioned to include parking, retail at the base and possibly a hotel in the lower portion.The partners -- brothers Allen and Frederick Levin, Robert Rinke, Clifford Mowe and Saints coach Jim Haslett -- are doing business as Poydras LLC. Several are in a different partnership that is building a seven-tower, 1,200-unit condo development in Pensacola Beach, Fla., called Portofino Resort.Haslett, who could not be reached for comment, is a condo owner in Portofino but not an investor there. He has a 4 percent stake in the Poydras project, other group members said.The group said it expects to close on the purchase of the parking lot by the end of May. Construction would begin by the end of the year and it would take two years to complete the $120 million building. The partners said financing will not be a problem. http://www.nola.com/business/t-p/in...47832105270.xmlUPDATE: The parking lot has be purchased and construction should start by the end of the year. Quote Link to comment Share on other sites More sharing options...
JWR Posted June 2, 2005 Author Share Posted June 2, 2005 Condos are hot items in the CBD. http://www.wwltv.com/perl/common/video/wmP.../053105betz.wmv Quote Link to comment Share on other sites More sharing options...
LTAWACS Posted June 2, 2005 Share Posted June 2, 2005 sounds good for NO. Quote Link to comment Share on other sites More sharing options...
kjb434 Posted June 2, 2005 Share Posted June 2, 2005 Yes,It seems New Orleans is on the ball for downtown residential versus us here in Houston. 1 Quote Link to comment Share on other sites More sharing options...
JWR Posted June 2, 2005 Author Share Posted June 2, 2005 In the original report, I believe that it said that the project would be 50 stories, reaching 700 ft. That's 3 feet taller than the current tallest, One Shell Square. I believe that there has been a revision already. Now it's 60 stories topping out at 800 ft. I wouldn't mind them adding a larger hotel at the bottom to bring it up to 900 ft. I just hope they don't try doing the building in the faux-chateau/neo-historical crap that many turn to in commercial residential construction. Quote Link to comment Share on other sites More sharing options...
kjb434 Posted June 2, 2005 Share Posted June 2, 2005 good point. I'm just happy New Orleans is turning around. I'm guessing it is the New Mayor and some of the more influential citizens that are helping the city stay strong. Quote Link to comment Share on other sites More sharing options...
jes Posted August 18, 2005 Share Posted August 18, 2005 Rumor has it that this tower is now going to be a Trump Project:http://www.nola.com/business/t-p/index.ssf...12763232310.xmlI think that this is going to be golden for New Orleans, and I love the fact that yet another surface parking lot is getting developed; it is icing on the cake that Poydras St will continue to be a mixed-use corridor... Quote Link to comment Share on other sites More sharing options...
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