Port of South Louisiana To Purchase Avondale Old Shipyard

The Avondale Global Gateway will be purchased by the Port of South Louisiana for a different price. The 254-acre site will be purchased for $330 million which is less than the original offer price of $445 million. The Port of South Louisiana and the current owner of the shipyard, T. Parker agreed to the new price. The new price comes as a reaction to the Governors and other officials saying it will be hard to “justify such a hefty price tag;”

The port will pay $280 million in cash and the rest will be on a $50 million mortgage. “A project this magnitude was always going to take time. We have done our due diligence, looked at this project from every angle and have worked to ensure the State of Louisiana gets the best deal possible,”says Paul Matthews with Port of South Louisiana.

The current owners of the Avondale shipyard have struggled to keep tenants. They purchased the shipyard in 2018 for $60 million hoping to build it into a hub of trade and light industry.  In order to do this, the company sunk another $90 million into renovations, upgrades and environmental remediation.

Currently the shipyard has been valued at a price between $239 million and just under $328 million. On top of that they will need to put up around $60 million in capital expenditures for the first several years.

“We have turned a derelict site into a profitable center of commerce, created hundreds of jobs, and secured tenants in our core industries of renewable energy, construction materials, and sustainable food products,” explains Anderson.

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HUD Explains How Builders Are Focusing on the Resilience of Homes

HUD, which stands for the US Department of Housing and Urban Development, has published several guides to direct home builders on how to add resilience to the homes they build. The guides are called Designing for Natural Hazards: A Resilience Guide for Builders & Developers.

This is a big issue for the United States, as it is reported that the country spends billions each year on helping communities after natural disasters. Having builders use the tools and tricks in the guide will help reduce the cost of helping those who have been impacted by wildfires, hurricanes, floods, tornadoes, blizzards and other natural disasters.

There are five different volumes for builders which include:
Designing for Natural Hazards Series Volume 1: Wind
Designing for Natural Hazards Series Volume 2: Water
Designing for Natural Hazards Series Volume 3: Fire
Designing for Natural Hazards Series Volume 4: Earth
Designing for Natural Hazards Series Volume 5: Auxiliary

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A New Pizza Joint in Algiers

Tavolino, which closed its doors in Algiers, will become a new pizzeria. The new pizzeria is called Nighthawk Napoletana and soon will be ready to have its first customers this September.

Nighthawk Napoletana will be run by the co-owner of Ancora, Adrian Chelette. He has partnered with Brett Jones and Bryson Aust co-owners of Barracuda Taco Stand. It will serve  Neapolitan-style pizza, distinguished by a blistered, puffy, well-risen crust cooked in a wood-fired oven, and a stretchy, pull-apart texture.

“We’re going to give this building a lot of love, and hopefully fill it with the neighbors and give people another reason to get on the ferry and come over to Algiers,” said Chelette.

All three partners feel that the West Bank needs a good pizza joint. In fact, it is in Aust and Chelette’s own backyard so to speak as they live close by. The draw is that the restaurant will be family-friendly, approachable and affordable.

“They’re coming in with tons of enthusiasm and energy and passion for pizza,” Wine & Dine Co-founder Suzanne Accorsi said.

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An Update on Elysian Fields Ave. Parking Lots

he city is talking about halting redeveloping the parking lots on Elysian Fields Ave. close to Frenchmen Street. The plan that will be put on hold includes a multi-level parking garage along with retail and other amenities.

The Audubon Nature Institute has plans to build a riverfront development at the Esplanade Avenue and Gov. Nicholls Street wharves. The city wants to put the parking garage on hold until they know what will be at the proposed riverfront park. The French Market Corp., a city agency that manages historic properties, wants to determine what types of amenities and facilities will be included at the riverfront park that will need additional parking spaces.

“We have to figure out what kind of capacity they are going to need and where they are planning to park cars because that will impact what we do,” said French Market Corp. Executive Director Leslie Thorn Alley. “I don’t think they’re quite there yet. They’re still working through a lot of the infrastructure issues.”

The plan for the two lots is to add two hundred fifty parking spaces for the French Quarter and Faubourg Marigny. Consultants report that the lots would generate money and be a benefit for New Orleans’ community.

“We have heard that our lots need to be safer, need to be available for multimodal and they need to be part of safe routes for musicians or gig workers who are carrying equipment and moving around at late hours,” Alley said.

to be like a multifamily apartment building: People like having a fitness center, pool and amenities, but with space for their kids and pets.”

Homeownership is still the biggest wealth generator in the US. There are people who still want to build equity in a home. There are also those who do not have the means to purchase a home but want to live in a house in a community.

“People keep moving to the Sun Belt. Where are they going to live? They are going to live in houses, I think,” said Miller. “It is a competition between houses and apartments, not between owning and build for rent.”

“We thought people would want smaller homes,” said Miller. “But they want the bigger home. They don’t want the starter home.”

“A four-bedroom home with the master downstairs on a quarter-acre lot that is walkable to schools? That’s the American Dream! And if you can’t own it, renting it is the next best thing,” said Bruce McNeilage, CEO of Kinloch Partners.

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Kenner’s New Land-Based Casino Is Underway

Treasure Chest Casino is under construction and is located in Kenner. Last May Yates Construction put the final steel beam into place on top of the 47,000-square-foot building. This is a big deal because large construction sites such as this have a “topping off” ceremony.

Yates Construction, who is our general contractor for the project, this is kind of a celebration for that team,” Rodney Miller, director of marketing for Treasure Chest, said. “They do it to kind of recognize what they have done so far and give their team accolades. Part of that is the signing of the beam by the team, hoisting it up, and there is a flag and some kind of tree that has been traditional to place on top of that beam and set it in place.”

Boyd Gaming, the owner of the casino, has $100 million into the project. “They started construction on the new building officially in the beginning of February, when they really started putting the pilings into the ground,” Miller said. “The steel structure is just about fully completed, and that will kind of end that phase. They will then move on to the next phase and kind of laying down all the guts of the building, so to speak, the electricity, the plumbing, and starting to close it in.”

The new Treasure Chest Casino will have wider gaming floor aisles, a 10,000 square feet of meeting space, new restaurants, bars and many other spots for entertainment including a FanDuel-branded sports book.

“We’re in the process of moving our facility into our current parking lot, where we used to park our guests,” Miller said. “That is now the construction area. It’s going to be a lot bigger, a one-level casino, and parking will be right next to the building, which currently is not the case for our existing property.”

“We’re looking to hopefully open in spring of ‘24,” he said. “So we’ve got just about a year to go.”

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