River Place Condominiums

[Antrell Williams]

HUGE let down.

[dan326]

I guess Preis reads our forum.

"Preis says 'all options are open' for RiverPlace site. After 10 years of trying to develop a piece of property at River Road and Laurel Street into a high-rise condominium tower and then an upscale hotel, Richard Preis is looking at selling the site. Preis says "all options are open," including building a 4 1/2-star hotel, building apartments, selling the land or just doing nothing with the RiverPlace property. "Lord knows I worked long enough on RiverPlace, but between Hurricane Katrina and the credit markets, the timing is just not right," he says. Preis says his wish is to build a hotel on the site, and he's had three visits with a major hotel group, including one Tuesday. This group represents a hotel flag that doesn't have a property in Baton Rouge, he says. Another option is building a 167-unit apartment complex, which Preis says would have monthly rents of $1,500 to $1,700. The plan would be to renovate and convert the units to condominiums once the credit markets improve. Preis is working with Windsor/Aughtry Co. of Greenville, S.C., to develop a 137-room Hampton Inn & Suites at Lafayette and Main streets, across from the RiverPlace site. Preis says he did that deal to enhance the value of his other property. "This whole area needs to be developed," he says, noting that the RiverPlace and the former location of the prime vacant riverfront sites. Preis says he hopes to narrow down his options for the land to one choice by Labor Day."

Businessreport.com

[buckett5425]

Thanks for the well informed post Richy, I agree with you 100%!

River Place appeared to only be catering to the luxury market, which in this town implies the condos would have only held occupants during football season, leaving downtown desolate for the rest of the year. This has been the fate of the Field House Condominiums.

I would like to see some nice mid-rise residential buildings downtown, 6-10 stories that cater to the average citizen or young professional. New Orleans has jumped on this bandwagon and the Architecture-Developer firm of Wisznia is leading this new trend. Wisznia is developing housing that caters to all income brackets and allows young professionals, like me, to not only live downtown at an affordable price, but in a very nice unit as well. Here is a link to their website, from there you can check out some of their developments in downtown New Orleans.

http://www.wisznia.com/

[Antrell Williams]

While the tower was going to impact our skyline, streetscapes in downtown need to be livened up, as everyone doesn't look at the skyline all day. Many mid-rise mixed use developments would do wonders to make streets downtown, the likeliness of more small businesses to open up, and a REAL nightlife downtown.

The market needs to cater to nearby LSU students and the graduates of SU and LSU. It makes more sense to work on multiple residential projects (that actually are fulfilled and reach no vacancy) that have one behemoth that's in the toilet. Lafayette street would be an ideal urban setting for young students and professionals.

[richyb83]

Your welcome Buckett And thanks for that link; nice to see all those NOLA properties being redeveloped..might the Commerce Bldg on Third @ Laurel be a candidate for this?? Nice street level potential too! Something from the ground-up?? It would be nice to see the Capitol Lofts re-emerge down the Sixth Street corridor or North Blvd? The Elysian and something else special may be in the works too! Thank you for contributing to the rebirth of downtown; it's a process; you gotta learn to crawl before you walk...downtown was dead for 10-15 years; it's come a long way; but has a long way to go; it would be great to see those options for avg Joe (like me too)open up for yall! Sorry to hear this about the Fieldhouse Condo's...Les Miles has a place there..look at his salary

Yeah Dan it's ironic that article came up the next day! UP can be powerful site as we have seen before with LSU; another irony was last week during slow posting period; was gonna bring back this River Place thread with that original rendering shown above post just to spark something up!

Agreed Antrel...a tower is no good if it's not contributing to the streetscape...River Place was supposed to be really nice on the Lafayette Street side; with grooved traffic calming pavement + coffee shop & small bookstore..this would have been directly across where the proposed Hampton Inn...I tend to agree with the layered skyline method with Fourth Street being the tallest; followed by Third Street & Lafayette Street...however the River Place site could be the execption..

Here is a future "Vision" of what Lafayette Street could look like from FuturBR....

*looking south on Lafayette Street/intersection with Main Street; corner of Hampton Inn shown left

I was hoping something residential like this could have been built on Third Street & Laurel parking lot across from Commerce Bldg...it might work well behind the linnear buildings along Third??

[Antrell Williams]

Projects like that would really liven up downtown. I was also thinking about if some residential development with easily sustainable retail would work for the area around East Blvd and South Blvd in the Garden District. With the greenway to LSU, and a hopeful redevelopment to Expressway Park, it could be a very desirable area.

[richyb83]

Your right Antrel! I really would like to see more 5-10 story condo's in BR...

It's still crazy for me to think the "Two Tallest" Residential Buildings are the hideous 14-story Presbyterian Apts on North Street & dinosaur Kirby Smith Hall at LSU...followed by the dull 12-story Twin-Dorms out on Bluebonnet...not acceptable IMO; even if you are a mid-sized city!

Just wanted to Bump this post onto next page; didn't realize it was on bottom of last page...

Your welcome Buckett And thanks for that link; nice to see all those NOLA properties being redeveloped..might the Commerce Bldg on Third @ Laurel be a candidate for this?? Nice street level potential too! Something from the ground-up?? It would be nice to see the Capitol Lofts re-emerge down the Sixth Street corridor or North Blvd? The Elysian and something else special may be in the works too! Thank you for contributing to the rebirth of downtown; it's a process; you gotta learn to crawl before you walk...downtown was dead for 10-15 years; it's come a long way; but has a long way to go; it would be great to see those options for avg Joe (like me too)open up for yall! Sorry to hear this about the Fieldhouse Condo's...Les Miles has a place there..look at his salary

Yeah Dan it's ironic that article came up the next day! UP can be powerful site as we have seen before with LSU; another irony was last week during slow posting period; was gonna bring back this River Place thread with that original rendering shown above post just to spark something up!

Agreed Antrel...a tower is no good if it's not contributing to the streetscape...River Place was supposed to be really nice on the Lafayette Street side; with grooved traffic calming pavement + coffee shop & small bookstore..this would have been directly across where the proposed Hampton Inn...I tend to agree with the layered skyline method with Fourth Street being the tallest; followed by Third Street & Lafayette Street...however the River Place site could be the execption..

Here is a future "Vision" of what Lafayette Street could look like from FuturBR....

*looking south on Lafayette Street/intersection with Main Street; corner of Hampton Inn shown left

I was hoping something residential like this could have been built on Third Street & Laurel parking lot across from Commerce Bldg...it might work well behind the linnear buildings along Third??

[Antrell Williams]

What really bugs me Richy is the amount of failed proposals. Remember the one in the 80s that resembles Regions tower in Shreveport? Also the many buildings in suburbia.

With the towers we could have had, people would think we were a 1.5 million metro.

[itsjustme3]

Your right Antrel! I really would like to see more 5-10 story condo's in BR...

It's still crazy for me to think the "Two Tallest" Residential Buildings are the hideous 14-story Presbyterian Apts on North Street & dinosaur Kirby Smith Hall at LSU...followed by the dull 12-story Twin-Dorms out on Bluebonnet...not acceptable IMO; even if you are a mid-sized city!

How tall is the new hotel on Bluebonnet?

[richyb83]

12-story's

[richyb83]

What really bugs me Richy is the amount of failed proposals. Remember the one in the 80s that resembles Regions tower in Shreveport? Also the many buildings in suburbia.

With the towers we could have had, people would think we were a 1.5 million metro.

Me too Antrell...one can only wonder what BR's skyline would look like with all the past proposals! BR's "Five Tallest" where built in 1932-State Capitol; 1974-One American Place; 1968-Chase Tower; 1989- north Chase Tower; & Marriott in the 70's...just figured it was time for at least a new 2nd Tallest...

Here is the Fidelity Bank Tower you mentioned that failed back in the 80's...at 30-stories it would have easily been BR's 2nd Tallest...these days most offices are of the suburban/garden variety making it hard to ever visualize another striking tower downtown...we may have missed our chance w/ the new II City Plaza...wish it could have been 25-stories

Notice how the Fidelity Tower was centered in the middle of the block instead of against the street...

[Antrell Williams]

Mhm, less emphasis on streetscapes I suppose. These suburban offices "suck."

[richyb83]

Hope this is not one of the last post here on UP for RiverPlace.....A new TND for Zachary is probably easier to pull off than a vertical riverfront tower...I had been hoping a new striking hise-rise would add to the BR Skyline...

A Tale of Two Projects

Mid-July brought very different news about two of the Capital Region's most talked-about speculative real estate projects.

After years of trying to develop a plot at Laurel Street and River Road, Richard Preis says "all options are open" regarding the site, long intended to host a high-rise condominium building called RiverPlace.

"Lord knows I worked long enough on RiverPlace," Preis says, "but between Hurricane Katrina and the credit markets, the timing is just not right."

But Americana, a 420-acre traditional neighborhood development once sidelined by a nasty legal dispute, now is on track,

http://www.businessreport.com/news/2011/aug/08/tale-two-projects-rlet1/

[steve3n8]

Hope this is not one of the last post here on UP for RiverPlace.....A new TND for Zachary is probably easier to pull off than a vertical riverfront tower...I had been hoping a new striking hise-rise would add to the BR Skyline...

A Tale of Two Projects

Mid-July brought very different news about two of the Capital Region's most talked-about speculative real estate projects.

After years of trying to develop a plot at Laurel Street and River Road, Richard Preis says "all options are open" regarding the site, long intended to host a high-rise condominium building called RiverPlace.

"Lord knows I worked long enough on RiverPlace," Preis says, "but between Hurricane Katrina and the credit markets, the timing is just not right."

But Americana, a 420-acre traditional neighborhood development once sidelined by a nasty legal dispute, now is on track,

http://www.businessr...projects-rlet1/

Don't give up hope Richy! I still have faith that we will soon get a High Rise Tower or two. I guess it just takes patience right now with this economy, but it wont be like this forever.......eventually it will break through.

[Antrell Williams]

I don't see why we couldn't get 2-3 shorter residential towers. The Kress building is nearly at 100% occupancy.

[richyb83]

Thanks Steve3n8...I can't ever completely run out of hope...however patience is running a little thin after it's been about 8 years(03'?) in the making...

[buckett5425]

River Place is heating up again and the project has been totally revamped. I am excited for the new proposal, but I don't think it's going to be what y'all expect. I'll release more details as I can.

[Antrell Williams]

buckett, teasing is against forum rules.

[dan326]

Well I expected it to be about 10-17 stories so either its been scaled up or down(up I hope! lol). Or maybe its been changed to some sort of retail/entertainment development.

Edit: I second what Antrell said.

[Antrell Williams]

Maybe the 12-story curse continues with River Place..

[richyb83]

Thanks for the head's up Buckett Would at least hope it would go 23-stories like the original plan...that may be too much to ask..... It would be nice to see something get moving at the next block(old Advocate bldg)...they can go 9-12 stories on that one.

Never completely gave up on this long-shot...even if it was 99%...there is always that 1% hope.

[Ronald120]

*patiently awaits Buckett's update*

[cajun]

*patiently awaits Buckett's update*

Wanted to bump this......

Buckett, what is in store for this site? Another hotel?

[buckett5425]

It's mixed use. Pries is still unsure of what exactly it is going to be. But I know he is piecing together another group of developers together to fund this project. He is also selling land all over town to raise more capital. I know more than that, but that is all I can really say for now. I have something to gain from this deal and have to keep things confidential for now.

[Antrell Williams]

I'm the worlds best secret keeper.