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$100 million mixed-use development complex slated for Mid-City

Plans for a new $100 million mixed-use development complex, which would include a fitness center, a boutique hotel and 300 units of housing, are underway in Mid-City, according to several reports and a building proposal.

The site is planned for an area of land behind the Rouse’s Supermarket on Carrollton Avenue. The organization behind the complex, Better + Boulder, Inc., was founded by Ryan Donegan, a former squash player who hopes to bring his love of the sport to a wider audience in New Orleans, according to an article in Biz New Orleans.

The development would sit on 8.6 acres of land, span over 374,000 square feet and include eight international singles Squash courts and hardball doubles courts, a climbing court and additional strength and fitness facilities. Plans for the complex also call for a spa, restaurants and cafes, rooftop gardens, a theater, demonstration kitchens and more.

“As a city, we want to be fitter and healthier, but would rather those pursuits be more diverse, social and fun,” reads the development proposal, uploaded in video format on YouTube.

The center doesn’t just focus on health and fitness. According to the proposal, Donegan wants the development to house a charter school, mixed-use officing and a technology incubator space.

The proposal also lauds the site’s location, which is near the Lafitte Greenway, a 2.6-mile bike path and park that spans from the French Quarter to Mid-City. The park is slated to open this spring.

“The Lafitte Greenway runs through our site, bolstering potential foot traffic and urging a development with the utmost in walk-ability,” the proposal reads.

According to proposals, the Better + Boulder’s village will embrace the architectural heritage of the Mid-City neighborhood.

Membership at the gym would cost about $90 and could be open within two years, according to a report in The New Orleans Advocate.

The article reports that Donegan waiting for the City Council to finalize the city’s new comprehensive zoning ordinance, a process that could be completed by the end of the month.

Donegan played squash at Brother Martin High School and later at Dartmouth College, according to reports.  He was a four-time All-America honoree and ranked internationally by the Professional Squash Association (PSA) as one of the Top 100 Squash Players in the world.

 

5 Replies to “$100 million mixed-use development complex slated for Mid-City

  1. My wife terri and i are very excited about this coming to the area.we just moved back to

    DAT CITY LOUISIANA on Moss st on the bayou.
    If you need any help in the future please call uhh s.

    OUR MOTTO IS

    HELP ONE PERSON EVERYDAY HOPE

    Good luck mark and terri laiche

  2. With a big ole ugly CVS sitting on the Home Depot spot….

    This is seems like it will really impact the area with parking etc…hope there are some discussions…and like CHRIS asked does the guy have any SKING in the game….as Arnie F used to ask

  3. Is this some enclosed, exclusive enclave? Is it open to the public? It reads that it will be inclusive with the neighborhood, but it eludes to being cordoned off. For example, the “village” boasts a Post Office while it is a block away from an actual Post Office. Plus, this is hosting 300 rental units, a hotel, shopping, gym, and meeting spaces. What is the plan for parking? Will there be large delivery trucks rumbling and shaking the neighborhood? I am all for the idea, but would like to hear more from the developer.

  4. Great questions and appreciate the feedback. In terms of financing, we are in the process of syndicating our development proposal and offering documents to institutional partners (family offices, real estate funds, etc.) as well as banks focused on financing for mixed-use developments (like ours). The end result will likely be a financing package or “capital stack” comprised of both equity (cash) and bank debt whereby the interested institutional partners typically have a banking relationship already in place and then utilize their own analysis to determine the optimal debt/equity ratio for the deal.

    As for the question referring to personal investment into the project, myself as well as my business partner have personal money, family investment, and two years of our time into the project (sweat equity as they say). To protect investor confidentiality, I can’t share that paid in capital amount; however, it is significant and, I believe, would qualify as “skin in the game” in this context. More than that, this capital has given us the necessary means by which we have been able to progress the project to this point in development (business and site planning, due diligence items, land deposits, drawings, floor plans, design work, etc.) and ready us for the next stage of development (pre-development/pre-construction).

    This planning, research, due diligence, and many other efforts on our part and by way of many partners – Batture (engineering), Cooper Johnson Smith (architecture), Jones Walker (securities advisory), Heigle & Associates (real estate transaction advisory and title commitment) – has also included careful consideration of and much dedicated time towards creating a cohesive mix of programming and related uses which can be enjoyed by all in the community while, also, architecturally and contextually staying true to the Mid-City neighborhood in terms of aesthetics, density, layout, and type and/or available selection of amenities, features, and uses. As such, we have tried our best to analyze the potential impact of our development on the traffic flow in the surrounding area and have used this research to plan circulation, loading areas, parking, etc. that will hopefully minimize possible traffic/parking issues. Furthermore, we designed our site to promote walkability and offer bike accessibility which, we hope, will lessen the reliance on cars and correlating traffic hindrances that may result.

    Really hope this helps in providing a bit more clarity and detail in regards to our project and adequately answers your questions concerning it.

    Best,

    Ryan

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