Multi-Family/Hotel Development Property

Talbot Realty Group presents a prime redevelopment opportunity at a newly reduced price. This ±100-room (±108,000 SF) CBD multi-use site, previously listed at $13,995,000, is now available for $11,250,000. The sellers are motivated and have requested to see ALL OFFERS. Property Highlights: - Prime Location: The highly visible building is ideally situated on Canal Street, adjacent to I-10, in the BioMedical District of New Orleans, Louisiana. - Investment Incentives: The property qualifies for state and federal tax credits. - Excellent Frontage: The property boasts approximately 180 feet of frontage along Canal Street and is directly on the streetcar line, offering unbeatable visibility and accessibility. - Ground Floor Retail Opportunity! - Versatile Redevelopment Potential: The site is perfect for a short- or long-term stay service, hotel tower, or multi-family development. It offers direct access to the CBD, Medical District, Warehouse District, and the French Quarter. - Strategic Location: Located at 1630 Canal Street, the property is within walking distance to New Orleans' most acclaimed restaurants, premier shopping, and vibrant entertainment. It is just blocks away from The Superdome and less than a five-minute drive to Caesar's Casino and the Convention Center. PROPERTY OVERVIEW: The property is vacant and has been remediated. The current condition is a steel frame blank canvas ready for development. The property is comprised of a single building with a brick exterior. The hotel's flat roof is constructed of concrete with a rubber membrane. Sections of the roof were replaced in 2005. The previous full-service hotel featured 216 guest rooms, a restaurant and three bars, an attached parking garage with 125+ spots, an outdoor pool and cabana, two conference halls with a prep kitchen and bar, private offices for staff, and a laundry facility. HISTORIC SIGNIFICANCE: The former Governor House Motor Hotel is a six-story hotel built in 1963 as the first motor hotel in the New Orleans Central Business District. The steel-frame building is clad in brick and designed in the French Quarter Revival Style, making prominent use of iconic elements such as French doors, shutters, arched openings, and balconies. The building's exterior has not been altered since the hotel opened. The original building included a restaurant, three bars, two meeting rooms, a swimming pool and cabana, and restrooms - which are historic contributing elements in addition to the hotel and parking structure. The building was placed on the National Registry of Historic Places on May 31, 2016. Building Highlights: • Single building with attached garage • Steel frame blank canvas ready for development • Currently vacant and remediated • Outdoor pool and cabana • Potential for rooftop development and entertainment • Experience a virtual tour of the current prop within the link embedded in the OM attachment. Previous Hotel Features: • Full-Service Hotel strategically located • 216 Guest Rooms • 1 Restaurant and 3 Bars • Attached parking garage with 125+ spots • Outdoor pool and cabana • Two conference halls with a prep kitchen and bar • Private offices for staff • Laundry facility