Plans advance for Plaza Tower and Mercy Hospital redevelopment
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Plaza Tower (right) is the city's first skyscraper. Photo: Carlie Kollath Wells/Axios
Redevelopment efforts are gaining traction at Plaza Tower, Mercy Hospital and several of the city's biggest blighted buildings, New Orleans leaders told City Council recently.
Why it matters: The buildings have sat vacant for years, dragging down surrounding neighborhoods and frustrating residents who have heard redevelopment promises before.
The big picture: Lincoln Avenue Communities has Plaza Tower under contract and expects to close early next year, says Jeff Schwartz, the city's director of housing and community development.
- "I believe I will go on the record saying that I think there is a transformative redevelopment possible with Plaza Tower," he told the council.
- Lincoln Avenue plans to convert the building, which is the city's first skyscraper, into senior apartments, Fox 8 reports.
- At one time, authorities were talking about demolishing it, but Councilmember Lesli Harris says she thinks there's hope now and she would "hate" to spend money tearing it down.
Zoom out: The project falls under Jenny Mains, the city's new deputy mayor for economic development.
- Her focus for the first 100 days is restoring economic confidence and improving the permitting process, she said at last Tuesday's council presentation.
- She also wants to support existing businesses and return city-owned properties to commerce.
- Schwartz, who works in Mains' office and previously served in the Cantrell administration, says he's seeing a new "level of urgency" to jump-start projects.
Other projects in the works
State of play: Mains and Schwartz updated the council on these projects too.
🏥 Mercy Hospital (Lindy Boggs Medical Center) in Mid-City: Woodward Interests plans to do a "transformative" $100 million-plus mixed-use, mixed-income project with 200 housing units, ground floor retail, office space and open space, Schwartz says.
- The basement will be turned into a large-scale water retention project that will help with neighborhood flooding, Schwartz says. The city plans to spend about $11 million to fund that part of the project.
- Demolition is expected this fall in advance of the deal closing.
🩺 Charity Hospital downtown: Tulane is the anchor tenant of this proposed $650 million redevelopment, with plans to use two-thirds of the building, Schwartz said.
- There will also be some housing units in the building, says Councilmember Matt Willard.
⚓️ Naval facility in the Bywater: Leaders recently broke ground on a $196 million project that will have about 300 affordable housing units, retail space and a $30 million startup incubator in the first phase.
- It will also have nearly 900 parking spaces, Schwartz says.
🎶 Municipal Auditorium in Treme: The master plan process is moving forward for the building and Armstrong Park. It was fully funded last week.
🛍️ Lake Forest Plaza Mall in the East: This site used to contribute 25% of the sales tax revenue in the city before Hurricane Katrina, Schwartz says.
- There's no news to announce yet, he says, but the administration is working on a strategy for redevelopment.
The bottom line: If these projects materialize, they could mean new housing, new businesses and long-awaited tax revenue for the city.