Work begins on $3.6M Central Business District apartments
Work has started on an apartment development in the Central Business District that’s set to be completed late next year.
An entity known as Union Street Properties is converting a three-story building at 824 Union St. into 11 apartments. The $3.6 million project is bounded by Union, Baronne, Perdido and Carondelet Streets and was most recently home to New Orleans Reproductions, a blueprint service.
According to plans filed with the city, there will be three units on each floor that will offer two bedrooms and two bathrooms. Contractors plan a fourth floor that will house two penthouse units with two bedrooms and bathrooms. Each penthouse would also have a private roof deck.
Units will range between 857 and 1,344 square feet. Patrick Tucker of Design Collaborative, the architect for the project, said they’ll have wood floors, quartz countertops and walk-in showers. He added developers are looking to charge $2.50 per square foot for rent, or around $2,100 per month for the smaller units.
A summary of the work shows the completion date for the project at the end of 2019. Ryan Gootee General Contractors is listed as the general contractor.
Tucker said the development will not have off-street parking but will include a community patio area on the first floor for residents.
According to the New Orleans Assessor’s Office, Union Street Properties acquired the vacant building in 2017 for $1.25 million from MRJK, LLC. The Secretary of State’s office lists New Orleans resident Charles Williams as the managing member of Union Street Properties.
Tucker said the development team was able to secure historic tax credits as part of the financing structure. He said the biggest challenge of the project was having to stabilize the building, as the masonry was in bad shape.
“That was about a six-month process,” he said.