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World Trade Center Development
Wed August 21, 2013
WTC Hotel And Apartment Plan Gets City Panel's Top Rating
The shuttered World Trade Center in New Orleans may be reborn as a luxury hotel and apartment complex. The 1960s-era building shaped like an X could be an anchor on the city’s refurbished riverfront.
A city advisory panel has given its highest rating to Gatehouse Capital Corporation, who wants to revamp the 33-story post-modern building into a W Hotel with apartments offering sweeping views.
In second place was the Burch company with a similar proposal.
Coming in third was the Tricentennial Consortium — a group of tourism interests that wanted the building torn down to make room for an attraction in time for the city’s 300th anniversary in 2018.
The Gatehouse plan isn’t necessarily the winner. It needs approval of the New Orleans Building Corporation — a city agency in charge of negotiating a deal.
Burch offered to pay more money to rent the space, and had detailed plans for including minority businesses in the project.
The panel rated Gatehouse in the top spot for its track record on similar developments.
World Trade Center