City Planning Commission has approved a proposed condominium development

The City Planning Commission has approved a proposed condominium development at the southwest corner of St. Charles Avenue and First Street in the New Orleans Garden District.  The $5 million project calls for ten 3-bedroom residences located within a 4-story building that will also include a roof-top pool and gym.  Early renderings show a development similar to the existing luxury condominium regime at St. Charles and Third Street.
The project was met with some opposition from residents in the neighborhood, due to the impact its 57-foot height could have on the avenue’s aesthetic, which is known nationally for its grand historical single-family homes.  The property in question, however, is currently improved with two single-story, ranch-style houses that are architecturally atypical for the area.  And although primed for redevelopment, it appears many hoped the houses would be replaced with a smaller-scale project.
The property is being developed by the Landrieu family, who own the corner house and purchased the contiguous home last July for $1,100,000.  This is equates to a land value above $145.00 per square foot, which is the highest on record in Uptown New Orleans and clearly shows the escalating demand for condos in the market.

St. Charles