New Flagship Development – French Quarter to City Park Connector
- Jul 08, 2015
By Anca Gagiuc, Associate Editor
As The City That Care Forgot approaches the fatidic date ten years ago when Hurricane Katrina left it 80 percent flooded, a nine-acre plot sale stands as sign of new development.
A local entrepreneur acquired the land along Bayou St. John in Mid-City. With approximately 380,000 square feet adjacent to the Lafitte Greenway, this is one of the most expansive continuous pieces of land readied for construction in the city.
Sidney Torres, owner of venture capital firm IV Capital, signed the largest transfer of mid-city land in decades and plans to turn it into a high-end mixed-use residential and commercial community with apartments and houses, kayaks and paddleboards along the bayou, fire pits on the bank, children’s playgrounds, as well as bike paths, a gymnasium, café, and boutique hotel. The purchase price was not disclosed by Torres and his business partners.
Torres is joined by Hicham Khods, owner of Camellia Grill who created the popular Nola restaurant in the French Quarter in collaboration with Emeril Lagasse, and entrepreneur and developer Joe Jaeger, owner of MCC Group.
“We have already been contacted by an experienced builder about developing two 80,000 square-foot parcels into apartments and we encourage people to bring their best ideas to the table,” Torres said. “This is an entirely new approach to development. If you have a great idea, Bayou St. John is the opportunity you’ve been waiting for.”