Building Permits Filed to Renovate the World Trade Center

Recently, developers filed building permits to renovate the World Trade Center and turn it into a Four Seasons Hotel. The former World Trade Center is found on Canal Street and the renovation is expected to cost around $360 million. This comes after two years of litigation.

Permits for interior demolition and renovations were filed on July 18th. The work is expected to include renovations and additions to the building to turn it into a hotel and residential condo units. Carpenter and Company out of Cambridge, Massachusetts will be heading up the project with help from Woodward Design+Build, a New Orleans-based company.

The plans will include taking the X-shaped structure and turning it into a building with 80 hotel-serviced condo units on the top floors and a 335 room luxury hotel. The tower stands 33 stories tall and will include access for the public to the observation deck and some cultural attractions for tourists. A restaurant with outdoor dining is also in the plans.

Currently, the project is expected to begin construction in the fall. The renovations are expected to take about two years and opening the new condos and hotel may come as soon as 2019.

Two Canal Street Investors filed an appeal in the Louisiana Supreme Court in March trying to overturn earlier rulings. However, the Supreme Court didn’t hear the appeal in April and cleared the way for redevelopment plans. Chapter 11 Bankruptcy was filed by TCSI and the company owes 13 creditors over $6 million.

TCSI lost the bid for redeveloping the vacant building and they were arguing that the process from the city wasn’t fair. The TCSI proposal was actually ranked last out of the five proposals and was for Hotel Alessandra and apartments for a total of $228 million.

The City Council of New Orleans approved leasing of a city-owned parking garage to Four Seasons unanimously in March. The current lease for this garage is held by Hilton Riverside, but that lease expires in October 2019.

Parks and Hotel Resorts of Virginia, owners of Hilton have said losing the garage could have an impact on their plans in the area. They plan to expand over the next few years.