Canal Street Beat | New Orleans Real Estate News

Benson’s BankPlus Tower Purchase Came Out of Hertz Liquidation; Tower to Become Her Downtown Headquarters

October 16, 2026 • News • 82

Gayle Benson’s acquisition of the 36-story BankPlus Tower at 909 Poydras Street came out of a court-ordered liquidation of Hertz Investment Group’s national office portfolio, and the building carried close to $40 million in outstanding debt at the time of the sale. Benson intends to relocate her main office and several departments into the tower, [&hellip
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French Market Restaurant Ceiling Collapse Sparks Dispute with SWBNO

October 15, 2026 • News • 205

On October 4, part of the dining-room ceiling at the French Market Restaurant and Bar in New Orleans’ French Quarter collapsed, leaving a shoebox-sized hole and causing visible cracks. Restaurant owner Christina Marullo attributes the damage to continual vibrations and truck impacts from the Sewerage & Water Board of New Orleans’ (SWBNO) ongoing Decatur Street [&hellip
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City Council Cuts Inclusionary Zoning Fee 97% to $10,000 After Mandate Produces Zero Apartment Units in Six Years

October 15, 2026 • News • 220

The New Orleans City Council voted unanimously on October 1 to cut the fee developers pay to opt out of the city’s affordable housing set-aside requirement from $304,810 per unit to $10,000, a 97 percent reduction that follows six years in which the mandate produced no affordable apartment complexes at all. The Mandatory Inclusionary Zoning [&hellip
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Convention Center Authority Sells 2.7-Acre River District Lot to Rivana Developer for $1.19M

October 14, 2026 • News • 464

The Ernest N. Morial New Orleans Exhibition Hall Authority has sold a 2.7-acre River District parcel at Tchoupitoulas and Euterpe streets to the developer behind Rivana, the 220-unit mixed-income apartment project planned for the site. RDNI Batture LLC recorded the purchase of 1484 Tchoupitoulas Street for $1,188,570, or $10.00 per square foot of land, in [&hellip
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Louisiana Hotel Activity Surges with New Orleans at the Forefront

October 14, 2026 • News • 596

Hotel construction in Louisiana is experiencing a significant uptick, with CoStar reporting approximately 2,300 rooms currently under construction across the state. New Orleans is the focal point of this development, highlighted by projects in the downtown and Central Business District areas, including the anticipated opening of the Fairmont at 1010 Common next month. The surge [&hellip
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Lynnwood Place Opens New Assisted-Living Home in Mandeville

October 13, 2026 • News • 552

Lynnwood Place Residential Assisted Living has launched a new 12-bed facility at 65518 Loretta Drive in Mandeville. The home, opened in late September, adds to the private elder care capabilities in St. Tammany Parish, addressing the area’s growing senior population. Founded by Lenny and Rachel Ledet, the facility was inaugurated with a ribbon-cutting ceremony on [&hellip
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Big-D Companies Opens Gulf-Coast Office in Covington

October 13, 2026 • News • 626

National contractor Big-D Companies has launched a new office at 1404 Greengate Drive in Covington, aimed at serving the Gulf Coast’s industrial and heavy-civil markets. This move, confirmed in recent weeks, reflects growing construction demand in the New Orleans metro area. The new Covington office establishes Big-D’s physical presence in the region, positioning the company [&hellip
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Avondale Global Gateway Receives First Venezuelan Aluminum Shipment in 8 Years

October 12, 2026 • News • 735

Avondale Global Gateway has marked a significant milestone with the arrival of a 15,000-ton shipment of Venezuelan aluminum, the first such import in eight years. The shipment, which arrived on October 5-6, signals renewed industrial activity at the West Bank terminal in Jefferson Parish. This development underscores the growing demand for Avondale’s multimodal facilities that [&hellip
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City Deemed Shoring Sufficient in June at 631 Dauphine; Officials Now Say Its Absence Likely Caused the Collapse

October 12, 2026 • News • 834

New Orleans officials have concluded that a lack of shoring most likely caused the partial collapse of the historic building at 631 Dauphine Street in the French Quarter, three months after the city reviewed the structure and determined that shoring in place was adequate. The two-story masonry building partially gave way around 4 p.m. on [&hellip
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Neglected Gentilly Blvd. Building Partially Collapses; Demolition Underway

October 12, 2026 • News • 834

A commercial building in the 2000 block of Gentilly Boulevard partially collapsed on October 4 after months of code violations and complaints. Following the incident, the building’s owner hired a contractor to initiate demolition and stabilization efforts by October 8, as the city took emergency measures to disconnect utilities to safeguard neighboring properties. City documents [&hellip
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