Appearing on Canal Street Beat and Written by Staff Writers
Earlier this month, developers associated with Orange Lake Resorts, part of the Holiday Inn family, purchased the 11-story historic Maritime Building in the Central Business District. While the purchase price has not been recorded, several sources tell CSB that the sale price represents one of the highest price per key sales to date in the city.
Timeshare Acquisitions Real Estate, LLC, a company owned by Bert Blicher and Sam Pontius, purchased the historic building built in 1893 as the city’s first skyscraper. The developers plan to renovate the building and re-open in 2020 with 105 time-share villas.
Developer Marcel Wisnia restored and redeveloped the $40 million project after Katrina. Wisnia also developed and recently sold the Saratoga Building to Sonesta, which plans to convert the property into an extended-stay hotel.