Four Seasons hotel development in New Orleans receives $316 million loan

Madison Realty has provided a $316 million loan towards the redevelopment of a Four Seasons property in New Orleans.
Madison Realty has provided a $316 million loan towards the redevelopment of a Four Seasons property in New Orleans.

NEW ORLEANS, La – A Four Seasons hotel redevelopment in New Orleans received a funding injection of more than $300 million.

As reported by costar.com, Carpenter & Co. and Woodward Interests are redeveloping the former World Trade Center in the city into a Four Seasons property. Recently, Madison Realty approved a $316 million loan for the project.

Sitting near the Mississippi River adjacent to the famous French Quarter, the development will include 401 hotel rooms and suites, as well as about 90 private residences on the building’s upper floors.

The property will also include event space, two restaurants, an outdoor pool, and private gardens. It’s also home to Vue Orleans, a 360-degree observation deck with panoramic views of the city.

“The Four Seasons New Orleans is well positioned “to capitalize on the demand from New Orleans’ robust tourism market and expanding business district,” Josh Zegen, managing principal and co-founder of Madison Realty, said in a statement.

Madison Realty has invested in a number of other Four Seasons hotels in the South.

Recently, the company loaned $201 million for the construction of the Four Seasons Hotel and Private Residences in Fort Lauderdale, Fla., and $105 million for the acquisition and renovation of the Four Seasons Hotel Miami.

 

Leave a comment

Register

Sign-up for your account with Convention South.
Please check the box below to confirm you would like to be added to Kenilworth Media’s various e-mail communications (includes e-newsletters, a survey now and then, and offers to the Convention South industry*).

Leave this empty:

*We do not sell your e-mail address to 3rd parties, we simply forward their offers to you. Of course, you always have the right to unsubscribe from any communications you receive from us, should you change your mind in the future.