The Plaza New Orleans

1001 Howard Ave, New Orleans, LA 70113, United States

The Plaza New Orleans

Iconic 44-Story Mixed Use Development

Access Data Room
Property Type
Hotel & HospitalityMixed UseMultifamily
Deal Type
Risk Profile

The Plaza, an existing 44-story historic skyscraper, is arguably the most renowned high-rise in the City of New Orleans. This iconic asset, which is exclusively being marketed by HREC, is a mixed-use development opportunity located in the Central Business District (CBD) and anchors the South Market District and Warehouse/Arts Neighborhood, which is the fastest growing, highest income and most expensive submarket in the CBD. Fully entitled for all uses, the Plaza is a 7-12-minute walk to the French Quarter, Superdome, Convention Center, WWII Museum, and all major demand generators in New Orleans.

  • Trophy Asset location, signature property, with substantial upside potential with Peak Convention Calendar - 2024-2026
  • Fully entitled for all uses (CBD-1) including Hotel, Timeshare, Residential (for rent and for sale), Restaurant/Bar, Retail
  • 581,000 square foot , 44-story building (which is vacant) presently programmed for 175 Hotel rooms (with an avg. room size of over 400 square feet), 67 Apartments, and 30 Timeshare units, both of which are 1,450 square feet each. This configuration and unit mix is elastic and can be modified without City approval.
  • Rooftop restaurant/bar/music Venue, with unparalleled views of the French Quarter, CBD, Mississippi River (from every floor as well), 330 car garage, pool, fitness, banquet, spa, and lobby bar/restaurant
  • 40% Federal and State Historic Tax Credits estimated to range from $25-$35 million (based on qualified cost and spending)
  • The Plaza is located in an Opportunity Zone, and may well qualify for a TIF or PILOT from the City
  • Fee simple, with substantial Brand interest, in a top 25 hotel market, that has a very limited new supply of hotel rooms or residential units in the next 3-5 years.
  • Multiple exit strategies include refinancing, sale of the entire property, and/or the sale of each component separately.
  • Potential Joint Venture Opportunity with Seller
Plaza Tower article 2142023.pdf