Construction has begun on the Odeon, a $106 million, 271-unit apartment building that will include 12,000 square feet of retail in the Central Business District, the project's developer said Monday.
Once complete, the 29-story building will be the latest addition to the half-billion-dollar South Market District, which has transformed an area between Loyola Avenue and Baronne Street once known for blight and parking lots into five blocks of boutique shops and high-end apartments and condominiums.
The 414,000-square-foot Odeon will have a mix of one- and two-bedroom high-end apartments and 200 parking spaces. The retail space will be marketed to food and beverage, fitness services and soft-goods businesses.
“The Odeon is the tallest building constructed in New Orleans in over 30 years,” said Matt Schwartz, principal of the Domain Companies. “This speaks volumes about the momentum in New Orleans today and how our city continues to grow and evolve. We’re proud to add The Odeon to a growing list of investments that are building a vibrant and culturally rich downtown and attracting new residents, employers, and visitors.”
Construction is expected to be finished by late 2020.
A final decision about the sixth and final phase of the South Market District development is expected to be announced later this year.
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