NEW ORLEANS | Project/Development Thread

[tennis1400]

Also thanks to NOLAFAN I ran across these items that seem to indicate potential flights to mexico from NOLA.

Volaris Airlines
From Cancun, Cozumel, Guadalajara, Merida, Mexico City, Toluca, and Monterrey ’
to Houston and NewOrleans
then beyond to Canada and Europe;



These havent been approved by DOT yet but looks like Volaris is interested in flying to NOLA


Southwest New Cancun Flights

[prokowave]

^ Just a disclaimer on that stuff - airlines do blanket applications all the time where they apply for a bunch of routes that they don't intend to fly. Or sometimes it's for the occasional charter flight. Many of these have been filed to MSY over the past few years, but nothing is official until it's announced.

[tennis1400]

Originally Posted by prokowave

^ Just a disclaimer on that stuff - airlines do blanket applications all the time where they apply for a bunch of routes that they don't intend to fly. Or sometimes it's for the occasional charter flight. Many of these have been filed to MSY over the past few years, but nothing is official until it's announced.

Def good to point out.. but ithought it worth mentioning volaris mentioning nola when they dont even fly here currently... seems real odd to do that and not fly something here at some point

[tennis1400]

800 N Rendon Apartment Project

[nolafan]

Originally Posted by tennis1400

Def good to point out.. but ithought it worth mentioning volaris mentioning nola when they dont even fly here currently... seems real odd to do that and not fly something here at some point

Volaris has been a target for MSY for quite some time. I think there's some definite truth behind the Volaris and Southwest flights. United & Delta run those seasonal flights from New Orleans and they do quite well for their price point.

In addition to Volaris, I'd expect AirFrance to move into the market to help out the Sky Team alliance with Delta. British Airways and American are going to surge with their alliance here and Delta will need something to compete and remain relevant.

Also, Paris was the second (or third) most popular destination from New Orleans behind London. I believe 436 people travel from MSY to Europe each day.

[prokowave]

State Supreme Court Refuses to hear the WTC appeal - project to finally move forward:
http://www.nola.com/business/index.s...r_orleans_news

[Saint Tiger]

Thank God!!!!

[tennis1400]

Originally Posted by Saint Tiger

Thank God!!!!

I dont really believe in violence but i swear if I ran into that man in a bar I would harm him!

[Chris from N.O.]

Originally Posted by tennis1400

I dont really believe in violence but i swear if I ran into that man in a bar I would harm him!

He proposed a Ritz-Carlton in Baltimore a few years ago. I didn't get through all this, but the Sun (newspaper) did a 10-page story on him, basically about how much of a con artist he is and how he has never gotten a single thing built. Oh, and his wife paid 6 figures for a Howdy Doody doll:
http://articles.baltimoresun.com/199...sful-developer

This article is from 1999, it looks like by 2000 they had dropped him from the deal.

Reading about guys like this makes me really glad I don't live in South Florida, which seems to be the epicenter for this kind of crap.

[tennis1400]

Originally Posted by Chris from N.O.

He proposed a Ritz-Carlton in Baltimore a few years ago. I didn't get through all this, but the Sun (newspaper) did a 10-page story on him, basically about how much of a con artist he is and how he has never gotten a single thing built. Oh, and his wife paid 6 figures for a Howdy Doody doll:
http://articles.baltimoresun.com/199...sful-developer

This article is from 1999, it looks like by 2000 they had dropped him from the deal.

Reading about guys like this makes me really glad I don't live in South Florida, which seems to be the epicenter for this kind of crap.

This guy is the real estate version of a patent troll... what makes me mad is this hotel would be almost open by now if it wasn't for him

[jjslonaker]

Sooooo great to finally see the Four Seasons saga be over! Personally whats his name should be tarred and feathered in Jackson Square hahaha.

Read a real estate market report for last year and 86.5% of total inventory on the commercial front is leased in Orleans! One Shell Square is 96% leased and Place St Charles is 91%! Great news considering these are our two largest buildings

[thalia]

Originally Posted by jjslonaker

Sooooo great to finally see the Four Seasons saga be over! Personally whats his name should be tarred and feathered in Jackson Square hahaha.

Read a real estate market report for last year and 86.5% of total inventory on the commercial front is leased in Orleans! One Shell Square is 96% leased and Place St Charles is 91%! Great news considering these are our two largest buildings

Saw that too:


http://corp-realty.com/wp-content/up...kRep_final.pdf

[hightech1217]

Originally Posted by thalia

Saw that too:


http://corp-realty.com/wp-content/up...kRep_final.pdf

The item in the report that caught my eye was that 1010 Common is only 47.97% leased compared to the remaining Class B office spaces on the market are 80-100% leased. I wonder if this is intentional. A few months ago, I read that Kalias purchased the building in 2014 and it was reported to be in "Pre-Development." I'm thinking that the building may be converted to residential which would move many of the current tenants to other locations, thus reducing the total available space on the market. Anyone have additional information on their plans?

[prokowave]

Originally Posted by hightech1217

The item in the report that caught my eye was that 1010 Common is only 47.97% leased compared to the remaining Class B office spaces on the market are 80-100% leased. I wonder if this is intentional. A few months ago, I read that Kalias purchased the building in 2014 and it was reported to be in "Pre-Development." I'm thinking that the building may be converted to residential which would move many of the current tenants to other locations, thus reducing the total available space on the market. Anyone have additional information on their plans?

I don't know what the current plans are, but the reason the occupancy there is so low is that the state and various agencies had offices there, leasing about half the space. That all moved to Benson Tower (which is basically 100% full) as part of the latest Saints deal. I have seen some new tenants there and some shifting around to free up ground floor space for retail, so I don't think they are trying to clear out the building. It's just that the office market has been slow lately.

In some ways, it's a nice asset, especially if they can spruce it up a bit. It's basically the only place that can accommodate a major corporate office of 100k+ sf, should the city attract one. There is a lot of residential and retail going into that area, so that should make it more attractive for potential office tenants.

[SlidellWx]

So glad to see that the Four Seasons project can finally move forward.

I also read the commercial market report, and it's good to see that overall occupancy in the metro area was little changed given the slowdown in the oil market and related industries. I do believe that the diversification of the corporate scene has allowed this.

Already this year, an Ohio based logistics company will be occupying the entire 20th floor of the Exchange Centre come June, and Lucid (a rapidly growing startup) will be expanding to another floor in One Canal Place. Another startup that I believe will likely need to expand to a larger office soon is Zlein. They are growing like crazy, and the building they are in is not that large just off Magazine street in the Garden District. Last I heard, they were adding one new employee every week or so.

I'm not sure what will ultimately happen to 1010 Common. It's the largest contiguous piece of office space on the market, and it will take quite a bit of time to fill. We'll see what the owner decides to do with the building.

[tennis1400]

Originally Posted by SlidellWx

So glad to see that the Four Seasons project can finally move forward.

I also read the commercial market report, and it's good to see that overall occupancy in the metro area was little changed given the slowdown in the oil market and related industries. I do believe that the diversification of the corporate scene has allowed this.

Already this year, an Ohio based logistics company will be occupying the entire 20th floor of the Exchange Centre come June, and Lucid (a rapidly growing startup) will be expanding to another floor in One Canal Place. Another startup that I believe will likely need to expand to a larger office soon is Zlein. They are growing like crazy, and the building they are in is not that large just off Magazine street in the Garden District. Last I heard, they were adding one new employee every week or so.

I'm not sure what will ultimately happen to 1010 Common. It's the largest contiguous piece of office space on the market, and it will take quite a bit of time to fill. We'll see what the owner decides to do with the building.

I like 1010 common but doesn't kailas family own it ?

[tennis1400]

[SlidellWx]

Originally Posted by tennis1400

I like 1010 common but doesn't kailas family own it ?

Yes. The Kailas family now owns the building. Great to see lights on at the Pythian.

[nolafan]

http://www.nola.com/business/index.s...river_home_pop

Interesting Lineup! Even though, some of these we've already seen!

[LAtoTX]

Does anybody know of a realistic timeline for the construction of The Odeon? I know this project is early in planning, but I'm wondering if it will actually come to fruition. How refreshing and cool would it be to see a building of that height being built in New Orleans again?

Side note: has there ever been any consideration of connecting NOLA and BR together along the I-10 corridor? Something like Dallas-Fort Worth. Baton Rouge definitely has the potential to grow into a sprawling city, and having its growth developing along I-10 towards NOLA would only make sense. Furthermore, it would also make sense to encourage development along I-12 and essentially turn Mandeville into a large suburb. The state needs to keep finding new ways to diversify the economy, and I believe something like this may actually be a possibility. I smell huge potential--but then there is Louisiana politics.