Starwood Announces Addition of Aloft Brand in CBD Adaptive-Reuse Project
- Mar 10, 2014
By Eliza Theiss, Associate Editor
Starwood Hotels & Resorts Worldwide Inc. has announced plans to open a 188-key Aloft hotel in the New Orleans Central Business District, converting a historic office building. The project follows a bevy of other successful adaptive reuse projects involving the Aloft brand, such as Aloft Orlando Downtown, Aloft Miami-Brickell and Aloft Dallas Downtown.
Aloft New Orleans Downtown, the brand’s first Louisiana location, will open at 225 Baronne St., within the eponymous office building. The 30-story historic property, owned by 225 Baronne Complex LLC, an entity of New Orleans-based HRI Properties, is currently undergoing redevelopment that is set to transform the dilapidated office structure into a mixed-use project. According to The New Orleans Advocate, the project is worth $100 million.
Upon completion, 225 Baronne will comprise the 188-key Aloft New Orleans Downtown, 192 mixed-income housing units, 2,910 square feet of retail, 6,000 square feet of meeting space and a 356-car public parking facility. At least some of the housing units will be upscale apartments. Units will feature hardwood floors, stainless steel appliances and in-unit washer-dryers. Amenities will include a rooftop swimming pool, fitness facility, multi-purpose room, covered bike parking and on-site management office. The development’s CBD location will ensure excellent access and connectivity for residents and hotel guests to the Crescent City’s world-famous French Quarter, the Mercedes Benz Superdome, jazz clubs and vibrant nightlife, shopping and downtown’s many offices.
Set for completion in the first quarter of 2015, the more than 308,000-square-foot project will be executed in accordance with the Secretary of the Interior’s standards for historic preservation. Roy Anderson Corp., a subsidiary of Tutor Perini Corp., snagged the $61.3 million construction contract for 225 Baronne St. and started work in November 2013. The project also involves the demolition of an adjacent structure, the 919 Gravier Building.
Aloft New Orleans Downtown will be managed by HRI Lodging.
Click here for further New Orleans market data.
Image courtesy of HRI Properties