Content area
Full Text
The 1950's-era former Shell oil company building at 925 Common St. has been renovated into apartments that officials said began leasing today.The $300-million-plus, 14-story, 108-unit luxury apartment and retailcomplex is being dubbed the first new residential property in the CentralBusiness District to come online post (Hurricane) Katrina.Move-in is expected in mid- June.Apartments, which range from 725 to 1,250 square feet, will rent at anintroductory rate of $1,495. A total of 102 one- and two- bedroom units areavailable as well as six penthouses.The building also includes 11,500 square feet of street-level retail spaceand a 200-car garage.The new retail space consists of roughly 7,500 square feet frontingUniversity Place next to the Fairmont Hotel and across from the OrpheumTheater. Another roughly 4,000 square feet of retail space will beaccessible at the building's Common Street entrance.Retailers include a full-service restaurant, coffee shop, bank orATM, newsstand, dry cleaner or other amenity/service oriented retailer.Latter & Blum Property Management Inc. is property manager and residentialleasing agent. Co-developer Marc Blumberg of Palmetto Partners Inc. ishandling retail leasing. J. Shayne Morgan of Latter & Blum is onsitemanager.Rozas-Ward Architects designed the redevelopment. Carl E. Woodward wascontractor. Both firms are based in New Orleans.The property is being marketed as a good housing solution for corporations to house workers helping rebuild New Orleans.Pullman Bank of Chicago is the construction lender. Chevron is the historictax credit partner.