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Canal Street Redevelopment Opportunity

1500 Canal Street, New Orleans, LA

The historic Jung Hotel is an eighteen (18) story hotel located in Downtown New Orleans along the Streetcar line. Prior to Hurricane Katrina, it was operated as a Park Plaza Hotel. It is near the French Quarter and within walking distance of the Superdome, the New Orleans Arena, Harrah’s Casino, and the Aquarium of the Americas.

The property is adjacent to the Medical Services District, which includes the Tulane University Hospital and Clinic, the LSU Health Sciences Center, and the future sites of the New Orleans Bio-Innovation Center and the Louisiana Cancer Center. The area will also see the construction of the new $1.2 billion LSU Hospital and University Center and the new $700 million VA Hospital and includes the Broadway South redevelopment area (1 block from hotel site).

The Jung is constructed with masonry exterior walls and a built up roof on concrete deck and contains approximately 544,000 square feet of improvements. When operating, the facility featured two restaurants, three retail shops, a deli, an exercise room, and a rooftop pool and deck area located on the sixth floor of the convention wing.

The guest rooms are located on the 3rd - 18th floors of the hotel. The hotel’s tower is “E-shaped,” providing natural lighting to the rooms. A new fire protection system, including automatic sprinklers, was installed in 1984.


 

Room Count Single Room
Typical Double Rooms
Double/Double
Suites

Total

10
460
276
13

759
 

 
Land Size 82,053.81 sq. ft. with 256.17' frontage on Canal and Cleveland by 320.31' frontage on LaSalle and S. Villere
 
Zoning CBD-2B
 
Permitted uses Hotel, residential – apartment or condominium, hospital, office, retail, and many other applications.
 
Age The property was constructed in five  phases between 1907 and 1963. It first opened in1925.
 
Price: $14,000,000

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For more information:

Paul Richard  504-569-9329
Drew Morock  504-569-9321
NAI/Latter & Blum, Inc./Realtors®

430 Notre Dame Street
New Orleans, LA 70130-3610

430 Notre Dame Street, New Orleans, LA 70130-3610
www.latterblum.com

The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. No warranties or representations, expressed or implied, are made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals.