Mass. trust buys One Shell Square

Louisiana’s tallest and largest skyscraper, One Shell Square, has been sold for $102 million to a Massachusetts real estate investment trust.

The Times-Picayune reports the 51-story building’s longtime owner, Metropolitan Life Insurance Co., sold the limestone building to the CommonWealth REIT of Newton, Mass., around the sixth anniversary of Hurricane Katrina in late August.

The sale brings a new real estate company to New Orleans that is likely to expand.

Timothy Bonang, vice president of investor relations at CommonWealth, said his company tries to get into the market by purchasing a “trophy asset,” and then hopes to pick up other properties in the market. One Shell Square is CommonWealth’s only holding in Louisiana.

“We try to purchase what we think is one of the best assets in the market, and then we hope to add through additional acquisitions over time,” Bonang said. “What we really look for are high-quality assets, high credit-quality tenants, and long-term leases.”

Continue at Boston Herald

 

BATON ROUGE, La. (AP) — Construction of a new $1.1 billion research and teaching hospital in New Orleans is expected to begin within weeks, to replace the hurricane-wrecked Charity Hospital, after state lawmakers Friday backed the spending plans.

Approval from the Joint Legislative Committee on the budget, which came without opposition, was the last significant hurdle stalling the hospital. The committee’s support marked the end of years of wrangling between the Legislature, the governor’s office and LSU over the size and scope of the facility.

“We’ve got contracts ready to go. We’re ready to start blowing and going,” said Jerry Jones, state construction project chief for Gov. Bobby Jindal’s administration.

Jones said construction will begin in two weeks. The hospital is estimated to open in 2015.

The facility to train new doctors and health professionals, care for the poor and provide trauma and specialty medicine has been on the drawing board for six years, since Hurricane Katrina flooded and shuttered the 1930s-era Charity Hospital.

Continue reading at HC

 

NEW ORLEANS – The decaying brick buildings of what was known as the Magnolia Projects are now rows of freshly painted town homes with ornate balconies and manicured lawns. Stoops where dealers once sold dope and shot at rivals have been replaced by a clubhouse featuring a flat-screen TV and a pool where neighborhood kids splash. The Magnolia Projects, once one of the city’s most notorious public housing complexes, today is Harmony Oaks Apartments, a 460-unit mix of government-subsidized and market-priced apartments. It replaces one of six public housing projects across the city recently razed to make room for new apartments and a fresh approach to housing the city’s poor.

“I never thought I’d be able to live like this,” says Harmony Oaks resident Larry Berzat, 60, who grew up in the former Magnolia Projects. “It’s a whole lot safer. And a whole lot better.”

New Orleans’ traditional model of corralling all subsidized housing into one location is being replaced by newer developments that mix subsidized and market-priced homes. More than 900 such units have opened in New Orleans already; another 3,100 are on the way. Public housing projects in Chicago, Atlanta, Salt Lake City and other cities have followed a similar trend, says Linda Couch of the Washington-based National Low-Income Housing Coalition. What makes New Orleans unusual is how the city toppled all of its major public housing projects at once, choosing a swift overhaul to its public housing over a phased redevelopment, Couch says. “People will be watching New Orleans closely,” she says.

Residents and city leaders agree that the new developments are far more livable and draw less crime than the previous structures, some of which were more than 8 decades old. But housing advocates warn that the new plans will steeply drop the number of available public housing units, leaving thousands of low-income families without affordable places to live.

Across the city, about 3,500 fewer units will be available, says James Perry, head of the Greater New Orleans Fair Housing Action Center.

“You’re going to have a large number of people without housing,” Perry says.

Continue at USAToday

 

NEW ORLEANS – The long-closed Joy Theatre – one of several rundown theaters that dot the landscape of downtown – will be renovated and reopened by early 2012.

Closed since 2003, the theater was sold to NOLA Theatre District LLC, a development group led by businessmen Neal Hixon, Joe Jaeger, Allan McDonnel and Todd Trosclair, according to a statement from the McDonnel Group, the general contractor for the project.

Using tax incentives and tax credits, the plan to rehab the shuttered theater is an aggressive one; it calls for a renovation and an upgrade to the theater and have it open by early 2012.  The theater will host live music and comedy shows, show current motion pictures and be available for special events, according to the McDonnel Group.

“The renovation and reopening of the Joy Theatre is a critical component to the revitalization of this area of Canal Street,” said Alan McDonnel in the statement.

“The timing of the project is crucial as well with the development of the Jung Hotel and surrounding sites, University Hospital and VA Hospital projects, the new streetcar extension, several residential and hotel projects currently in development in the nearby vicinity, and of course the reopening of the Saenger Theatre just across Canal Street.”

The project will utilize a variety of tax incentives including State and Federal Historic Tax Credits along with Louisiana Live Performance District Tax Credits, according to the statement from McDonnel.

The announcement that the Joy Theatre will be renovated comes on the heels of Gov. Bobby Jindal signing a pair of bills extending tax credits for the rehabilitation of historic buildings in downtown New Orleans.  The bills are being touted by local leaders as being instrumental in also getting the Saenger Theatre rehabilitated.

From WWL

 

With nearly $2 billion in FEMA money at stake, there was no shortage of impassioned appeals from members of the public during a citywide meeting Saturday to discuss how that money should be spent as the Recovery School District and the Orleans Parish School Board move forward on the School Facilities Master Plan for Orleans Parish.

One leading concern involved a lack of connection between decisions on how new school buildings will be designed and constructed and the decisions on who then will operate them.

Most of the approximately 100 people attending the meeting at Xavier University said the needs of the surrounding neighborhood and the goals of the program that would eventually occupy the building should be taken into consideration before and during construction.

“You are not just rebuilding buildings, you are rebuilding communities,” audience member Karran Harper Royal said.

Continue at the TP

 

Yesterday, New Orleans Regional Transit Authority (RTA) officials and U.S. Transportation Secretary Ray LaHood formally launched construction on the Union Passenger Terminal/Loyola Avenue streetcar project.

“The New Orleans streetcar project will create jobs, economic opportunities and greater transit choices,” LaHood said in a prepared statement.

In addition, LaHood announced the RTA will receive a $400,000 grant from the Federal Transit Administration (FTA) to establish a program to assist in the hiring and training of skilled streetcar maintenance workers.

The streetcar extension, which received $45 million through the Transportation Investment Generating Economic Recovery (TIGER) program in 2010, is expected to begin service in June 2012.

The extension will run through New Orleans’ central business district along Loyola Avenue from the Union Passenger Terminal to Canal Street. The terminal is a major southern hub for Amtrak, which operates three trains that serve the station.

From ProgressiveRailroading

 

New Orleanians have been hearing about plans for improving selected streetscapes in the city for four years, but so far they have seen precious little work.

Officials promise that is about to change, but similar promises have been made before.

The street improvement and beautification projects stretch across the city from Lakeview and Broadmoor to Central City, eastern New Orleans and Algiers.

They involve adding trees and landscaping, replacing curbs, creating walking paths and in some cases reducing the number of driving lanes to make it easier for pedestrians to cross streets. as was done on Canal Street in the Central Business District a few years ago.

City Councilwoman Stacy Head has said the initiatives are “designed to be catalytic projects in carefully targeted areas of the city.”

The list of more than 100 capital projects that Mayor Mitch Landrieu promised in August his administration would complete included about $22 million for more than 20 streetscape projects in its total budget of about $640 million. The money for the streetscapes work is coming from federal Community Development Block Grants.

Public Works Director Robert Mendoza told a council committee in January that work on many of the projects was about to begin. Some would be under construction by February or March and several more by April, he said.

But when Deputy Mayor Cedric Grant appeared recently before the same Public Works Committee, filling in for the suspended Mendoza, the timetables all had been delayed yet again.

Continue at the TP

 

The Passivhaus (now called Passive House in North America) standard is usually thought of as a response to temperate or cold conditions, given its German origin. Certainly its annual heating energy limits are not going to mean a lot in New Orleans, where ArchDaily and Design by Many ran a competition to design a Passive House. But there is still a overall energy limitation which is tough to meet if you are going to provide air conditioning. The surprising winner was a Canadian architectural firm,Sustainable TO.

The competition brief asked for

a well balanced concept of sustainability including minimal impact on the local environment, affordable to heat and cool, and affordable to build and purchase….Homes should be shotgun typology and strive to create cohesive neighborhoods.

In shotgun plans, the rooms are arranged enfilade without a corridor, which allowed for windows on both sides of a single room and good cross-ventilation. It is a French concept, seen from Versailles to apartments in Montreal to New Orleans. It doesn’t work very well with our current expectations of privacy, so the architects have modified it:

The house reinterprets a traditional shotgun-style plan by mirroring two bedroom and bathroom units on either side of the main living space. The open living plan optimizes natural air flow and daylighting. The corridor opens southward to a flexible cantilevered side gallery that wraps around the house, providing shaded outdoor living space.

The architects write:

Organized linearly along a circulation corridor, the long axis of the house runs East/West. This organization addresses strategies of natural ventilation, daylighting, shading and solar heat gain. The south facade’s deep roof overhang provides passive solar protection for the building’s interior in the summer, while allowing passive solar heat gain in the winter.

Continue and see more images at Treehugger

 


photo by Ted Jackson

Likely owing to the severe property damage caused by Hurricane Katrina, the rate of residential vacancy grew in all seven New Orleans-area parishes between 2000 and 2010, with the highest proportion of empty houses and apartments occurring in the city, 2010 census data being released Thursday show.

In New Orleans, more than 25 percent of the city’s approximately 190,000 housing units were found to be vacant during last year’s national count. That compares with 21.3 percent in St. Bernard Parish, which also suffered severe flooding, while St. Charles Parish had the area’s lowest vacancy rate, at just less than 7 percent.

For the first time, the census also tracked several causes of vacancy, including whether a property was for sale, for rent or being used for seasonal or recreational purposes when census data were collected. The results offer perhaps the best snapshot yet of the number of truly abandoned properties across the region.

Not surprisingly, New Orleans topped this category, with unspecified vacancies at more than 24,000 homes, or 12.7 percent of the city’s housing stock. The figure was 7.2 percent in St. Bernard Parish. It was lowest in Jefferson and St. Tammany parishes, where just 2.7 percent of total housing units were deserted without explanation.

Continue at the TP