Downtown sees Multimillion dollar expansion and development
Appearing in Canal Street Beat and Written by Staff Writers
According to our friends at the Downtown Development District, permits for $566,877,871 worth of construction were issued by the City of New Orleans for Downtown construction projects in 2018.
This represents 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.”
Some of the projects include:
- The $66 million National World War II Museum.
- The 150-bed Hosteling International Hostel.
- The New Orleans Culinary and Hospitality Institute.
- The Sazerac Beverage Museum.
- The $40 million luxury condos at 731 St. Charles Avenue.
- The Four Seasons Hotel and Residences.
- The Hard Rock Hotel.
- The $100 million Odean.
- The $49 million Garage apartments.