NEW ORLEANS -- A building on Canal Street more than four decades old is getting a facelift.
The Canal Street Hotel was once a gem at the corner of Claiborne and Canal, built in the 1960’s. Now it sits dilapidated and covered in graffiti. It was shut down in 2009 by court order after being deemed unsafe but now the hotel may be on track to new life.
Local businessman Michael Valentino says construction is set to start now
“We think it’s going to be a cool 60’s mid-century architecture-themed property that will restore the visual prominence of good and healthy activity occurring on the corner of Claiborne and Canal,” Valentino said.
Valentino and his partners bought the building from its previous owners for $4.8 million last year now they plan to restore it back into a 224-room hotel.
Sixty of the rooms will be extended stay, targeted at medical patients and their families at the new medical complex but this isn’t the only revival taking place on this end of Canal.
Right next door, construction on the old University of New Orleans office building is underway. Purchased by a Dallas based developer for an asking price of $6 million, they plan on turning it into at least a 180 room hotel. Just down the street, a $130 million renovation is being pumped into the Jung Hotel.
“Our economic confidence and visible redevelopment of that corner is going to help others feel more confident about what’s possible in that area of the city,” said Valentino.
Valentino is hoping all the restorations will spark even more ideas.
“It also begs the question of what ultimately happens to the Charity (Hospital) complex and to the related buildings because that’s kind of the last undeveloped zone in the downtown area,” said Valentino.
The renovation is slated to take place over 15 months, opening in the summer of 2017.