NEW ORLEANS – The Ernest N. Morial New Orleans Exhibition Hall Authority has selected River District Neighborhood Investors – led by Louis Lauricella – as its partner in the development of new dining, retail, housing and entertainment offerings on the 39 acres upriver from the Convention Center.
Convention Center leaders hope this investment will make New Orleans more competitive with Nashville, Atlanta, Las Vegas and other U.S. cities vying for meeting business.
“We had two excellent presentations from exceptional developer teams that have a passion for New Orleans,” said Exhibition Hall Authority President Jerry Reyes in a press release. “River District offered interesting ideas and demonstrated they had an understanding of the Authority’s vision for the development of the 39 acres. As important, they are committed to involving SEB/DBE businesses all along the way.”
This project is part of a $557 million capital improvement plan that began in 2018. A 7.5-acre pedestrian park in front of the existing Convention Center is already complete. Work is underway to modernize the interior of the facility. Plans for a new 1,200-room hotel, estimated to cost an additional $500 million, were put on hold during the pandemic due to the uncertainty surrounding the meeting business.
The other contender for the job was a development team led by Woodward Design+Build CEO Paul Flower, who is nearly finished converting the old World Trade Center building at the foot of Canal Street into the new Four Seasons Hotel and Private Residences. (Boston-based Carpenter & Co. are Woodward’s partners in that project.)
Ultimately, however, Convention Center leaders preferred River District’s residential-based approach to Flower’s plan, which was built around the creation of a new live entertainment venue.
“On behalf of the River District Neighborhood Investors, I am thrilled that the Authority has put their trust in us as a partner for this historic engagement,” said Louis Lauricella, known for developing the Elmwood Center. “We believe our group’s diverse composition, cooperative spirit, financial capacity, experience, commitment and vision positioned us well.”
Click here to see the River District Neighborhood Investors LLC presentation.
