real estate

The Shreveport Downtown Development Authority is gearing up for a second Pop UP project.

This time, a vacant, turn-of-the-century building in the central business district will be filled with 6,000 square-feet of retailers that currently don’t have a brick-and-mortar storefront.

Business owners apply to get a rent-free space in the Pop UP. If chosen, they will operate their venture out of the Zodiag building for two weeks, according to Liz Swaine, executive director of the Downtown Development Authority.

Michael DeMocker / Nola.com / The Times-Picayune

In a recent story, Nola.com / The Times-Picayune education reporter Danielle Dreilinger took a look at the many empty buildings and vacant lots still owned by the Orleans Parish School Board. Hurricane Katrina and the subsequent floods damaged many school properties, though some sat vacant and rotting long before the storm.

Wally Gobetz / Flickr

Negotiations between the city of New Orleans and Gatehouse Capital Corporation to redevelop the former World Trade Center have collapsed.

According to a statement released Wednesday by Mayor Mitch Landrieu's administration, the city rejected the developer's final offer to turn the long-derelict high-rise into a W Hotel with rental apartments on the top floor.

The New Orleans Advocate reports the city notified Gatehouse that it was terminating talks in a letter dated April 17.

Downtown Development District

 

A brand new culinary institute has been approved for the site of the former Louisiana ArtWorks building on Howard Avenue. The New Orleans Culinary and Hospitality Institute won the bidding over two other competitors.

Tyler Bridges of The Lens talked with WWNO News Director Eve Troeh about the details of the $6 million deal.

Grant Morris / It's New Orleans

Pres Kabacoff and his company HRI Properties have had an enormous impact on the city of New Orleans — from building Beau Chêne on the Northshore to pioneering a return to inner-city living by bringing back the Warehouse District.

Rick Haase has shepherded Latter and Blum into becoming the biggest real estate player in the Gulf South.  

The city of New Orleans is seeking developers to revive the property where an empty office tower sits on the banks of the Mississippi River. And officials are being careful not to limit the ways in which the valuable real estate can be used.

The 33-story World Trade Center building could be torn down or renovated.

The New Orleans Redevelopment Authority will auction 125 properties in several neighborhoods, including Lakeview, eastern New Orleans, Holy Cross, Gentilly, the 7th Ward, St. Roch and Uptown.

The auction will occur at 1 p.m. Oct. 27 at the Ernest N. Morial Convention Center. Registration is at 11 a.m.

A Metairie man has been sentenced to 30 months in federal prison for defrauding hundreds of investors in a Texas real-estate deal out of millions of dollars.

U.S. District Judge Lance Africk also on Thursday ordered Michael B. Smuck to pay more than $789,000 in restitution that he still owes investors. Prosecutors say Smuck already has paid nearly $3 million to one group of investors he bilked.

Smuck, who pleaded guilty in May 2010 to one count of mail fraud, solicited investments in acquiring a Houston apartment complex called Briar Meadows.

The cost of land along Veterans Memorial Boulevard — east Jefferson Parish's main commercial corridor —has reached historic highs indicating a strong retail market, according to SRSA Commercial Real Estate of Metairie.

SRSA partner Donald Schwarcz tells New Orleans CityBusiness his figures show the strip's most valuable property costs as much as $60 per square foot, six times as much as land in eastern New Orleans, four times the cost along Lapalco Boulevard in west Jefferson and nearly twice as much as the most expensive commercial areas of St. Tammany Parish.

A federal bankruptcy judge has approved the sale of Colonial Golf & Country Club's 88-acre property to businessman John Georges and real estate developer Wayne Ducote.

Judge Elizabeth Magner congratulated the parties assembled Wednesday after confirming the Harahan-based club's Chapter 11 reorganization plan.

The Times-Picayune reports the 87-year-old club closed in January and declared bankruptcy in February, a day before the property was to be sold at a state court-ordered auction.

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