Crescent City Towers
Encyclopedia
Plaza Tower is a 45-story, 531 feet (162 m)-tall skyscraper
in New Orleans
, Louisiana
, designed in the modern style by Leonard R Spangenberg, Jr. & Associates. Located in the Central Business District
(CBD), it is the third tallest building in both the city of New Orleans and the state of Louisiana.
The building has been unused since 2002 because of environmental problems such as toxic mold
and asbestos
. In March 2005, the Plaza Tower was purchased by Giannasca Development Group LLC for $4 million. The Giannasca Group planned a $120 million renovation to convert the office tower into a 197-unit condominium
tower with an entirely new facade. However, after damage due to Hurricane Katrina
, the group was involved in faulty appropriations of insurance money that had been issued after the storm, causing the group to sue one another and default on the mortgage.
In 2007, the building was auctioned off and purchased by Plainfield Asset Management
for $583,000. In January of 2009, mold remediation work began on the structure to rid it of asbestos and other problems. The work involves stripping the entire interior of the building, including removing all of its walls and ceilings. The work is estimated to cost $10 million and is expected to take one year to complete. Subsequent future plans are uncertain.
As of Wednesday, July 20, 2011, WWL TV of New Orleans reports that the building is up for auction, with a minimum bid of $250,000.
surpassed it by over 160 feet (49 m).
Along with the World Trade Center on the Mississippi riverfront, the Plaza Tower marked the beginning of modern high-rises in New Orleans. The building has always held a prominent place in the city's skyline, even after the 1970s building boom on along Canal Street and the 1980s boom along Poydras Street. This is due to both its unique design, particularly its "mushroom top," and its location on the extreme edge of the CBD.
The Plaza Tower was originally designed primarily as an office building with some residential space on the upper floors. Upon completion of the tower, very little residential space was made available. By 1984 the remaining residential apartments were made into offices.
In 2001, tenants began to publicly criticize the building's owners for ignoring worsening conditions in the building. Claims were made that a lack of proper maintenance had led to exposure to asbestos and toxic mold. Several class action lawsuits
were filed by workers against the owners and managers and their own employers, the Louisiana Department of Social Services and Louisiana Department of Health and Hospitals
. In 2002 approximately 700 Louisiana state and New Orleans District Attorney's Office employees relocated en masse to offices on Common Street. Since that time, the building has sat sealed off and unused.
For several years in the late 2000s a plan was in the news to redevelop Plaza Tower as residential space under the name "Crescent City Towers" or variations on that name.
A plan claimed to begin by gutting the building down to its superstructure
, both on the interior and exterior, required because of the building's history with asbestos, toxic mold and water leaks. The proposed new facade would feature a neomodern
look, making extensive use of glass and staggered balconies, to provide the units with views of the New Orleans skyline and the Mississippi River
. Once complete, the building would have including amenities such as a gourmet restaurant, spa, fitness center, indoor pool and retail space. An adjoining building containing a 350-space parking garage and several townhouse units was also planned be renovated. The redesign was originally proposed under the name Crescent City Residences.
The architectural team behind the redesign was composed of Williams Architects of New Orleans and Marks Thomas Architects of Baltimore. Dorian M. Bennett Realtors Inc. had exclusive rights to sell the 350 units, with prices starting at $350,000. Unit sizes were determined, but prices were planned to be in the range of $450 per square foot, similar to prices in the French Quarter
, and about $100 per square foot higher than the nearby Warehouse District.
In November 2005, Giannasca Development Group announced it had secured $24 million to start the redevelopment project. A construction timetable was being developed in light of delays and logistical issues since Hurricane Katrina
, with estimates for an opening date in 2008.
In spring 2006, modified plans were released reflecting changes aimed at addressing post-Katrina concerns. This redesign includes glass designed to withstand 200 mi/h winds, a self-contained electrical generator, and an internal water supply, which developers say could make the building self sufficient for three to four weeks. The external design was also changed to a cleaner glass and steel design, removing the needle point and multiedged surfaces of the original design. This new exterior was to consist of gold-tinted wall to wall glass and maroon steel. The price of the project increased from $100 million to $120 million while the number of units has been reduced from 350 to 197. These units were to run from 1080 square feet (100.3 m²) starting at $450,000 to several 3000 square feet (278.7 m²) units costing several million dollars. Three quarters of the units were to have only one bedroom. The project also saw a slight name change to the Crescent City Towers.
In July 2007, the owners defaulted on the mortgage and the Plaza Towers was put on the auction block. Howard Acquisitions, LLC already held the mortgage on the building. Their winning bid protects their investment and gives them full control over the high-rise. The new owners, Plainfield Direct, are remaining tight-lipped about their plans for the building.
On December 19, 2007, Plainfield Direct paid the City of New Orleans $608,000 in back taxes and announced plans to spend $10 million on environmental remediation. This work was set to begin immediately in the parking garage and building annex, work was to begin in the tower in early 2008. Following the remediation work, Plainfield was to partner with developers to put the building back into use.
Such plans did not met with success. In July 2011, the still vacant building announced to be up for auction with bids due by 20 September.
New Orleans, LA 70113-2002
The Plaza are bounded by the following streets:
Skyscraper
A skyscraper is a tall, continuously habitable building of many stories, often designed for office and commercial use. There is no official definition or height above which a building may be classified as a skyscraper...
in New Orleans
New Orleans, Louisiana
New Orleans is a major United States port and the largest city and metropolitan area in the state of Louisiana. The New Orleans metropolitan area has a population of 1,235,650 as of 2009, the 46th largest in the USA. The New Orleans – Metairie – Bogalusa combined statistical area has a population...
, Louisiana
Louisiana
Louisiana is a state located in the southern region of the United States of America. Its capital is Baton Rouge and largest city is New Orleans. Louisiana is the only state in the U.S. with political subdivisions termed parishes, which are local governments equivalent to counties...
, designed in the modern style by Leonard R Spangenberg, Jr. & Associates. Located in the Central Business District
New Orleans Central Business District
The Central Business District is a neighborhood of the city of New Orleans. A subdistrict of the French Quarter/CBD Area, its boundaries as defined by the City Planning Commission are: Iberville, Decatur and Canal Streets to the north, the Mississippi River to the east, the New Orleans Morial...
(CBD), it is the third tallest building in both the city of New Orleans and the state of Louisiana.
The building has been unused since 2002 because of environmental problems such as toxic mold
Toxic mold
Mold health issues are potentially harmful effects of molds.Molds are ubiquitous in the biosphere, and mold spores are a common component of household and workplace dust...
and asbestos
Asbestos
Asbestos is a set of six naturally occurring silicate minerals used commercially for their desirable physical properties. They all have in common their eponymous, asbestiform habit: long, thin fibrous crystals...
. In March 2005, the Plaza Tower was purchased by Giannasca Development Group LLC for $4 million. The Giannasca Group planned a $120 million renovation to convert the office tower into a 197-unit condominium
Condominium
A condominium, or condo, is the form of housing tenure and other real property where a specified part of a piece of real estate is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas is executed under legal rights...
tower with an entirely new facade. However, after damage due to Hurricane Katrina
Hurricane Katrina
Hurricane Katrina of the 2005 Atlantic hurricane season was a powerful Atlantic hurricane. It is the costliest natural disaster, as well as one of the five deadliest hurricanes, in the history of the United States. Among recorded Atlantic hurricanes, it was the sixth strongest overall...
, the group was involved in faulty appropriations of insurance money that had been issued after the storm, causing the group to sue one another and default on the mortgage.
In 2007, the building was auctioned off and purchased by Plainfield Asset Management
Plainfield Asset Management
Plainfield Asset Management is a hedge fund that specializes in managing investment capital on behalf of institutions and high net worth individuals. The firm works with clients in the United States and abroad, and maintains offices in Stamford, Connecticut and Summit, New Jersey...
for $583,000. In January of 2009, mold remediation work began on the structure to rid it of asbestos and other problems. The work involves stripping the entire interior of the building, including removing all of its walls and ceilings. The work is estimated to cost $10 million and is expected to take one year to complete. Subsequent future plans are uncertain.
As of Wednesday, July 20, 2011, WWL TV of New Orleans reports that the building is up for auction, with a minimum bid of $250,000.
Plaza Tower
Construction of the Plaza Tower began in 1964, but halted in October 1966. The property was bought out and construction resumed in 1968. Upon completion later that year, the Plaza Tower became the tallest building in New Orleans and Louisiana, a record it held for four years when One Shell SquareOne Shell Square
One Shell Square is a 51-story, skyscraper designed in the International style by Skidmore, Owings and Merrill, located at 701 Poydras Street in the Central Business District of New Orleans, Louisiana. It is the tallest building in both the city of New Orleans and the state of Louisiana. The...
surpassed it by over 160 feet (49 m).
Along with the World Trade Center on the Mississippi riverfront, the Plaza Tower marked the beginning of modern high-rises in New Orleans. The building has always held a prominent place in the city's skyline, even after the 1970s building boom on along Canal Street and the 1980s boom along Poydras Street. This is due to both its unique design, particularly its "mushroom top," and its location on the extreme edge of the CBD.
The Plaza Tower was originally designed primarily as an office building with some residential space on the upper floors. Upon completion of the tower, very little residential space was made available. By 1984 the remaining residential apartments were made into offices.
In 2001, tenants began to publicly criticize the building's owners for ignoring worsening conditions in the building. Claims were made that a lack of proper maintenance had led to exposure to asbestos and toxic mold. Several class action lawsuits
Class action
In law, a class action, a class suit, or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued...
were filed by workers against the owners and managers and their own employers, the Louisiana Department of Social Services and Louisiana Department of Health and Hospitals
Louisiana Department of Health and Hospitals
The Louisiana Department of Health and Hospitals is a state agency of Louisiana, headquartered in Baton Rouge. The agency oversees the health of the population.-External links:*...
. In 2002 approximately 700 Louisiana state and New Orleans District Attorney's Office employees relocated en masse to offices on Common Street. Since that time, the building has sat sealed off and unused.
Proposed rebirth as Crescent City Towers
A plan claimed to begin by gutting the building down to its superstructure
Superstructure
A superstructure is an upward extension of an existing structure above a baseline. This term is applied to various kinds of physical structures such as buildings, bridges, or ships...
, both on the interior and exterior, required because of the building's history with asbestos, toxic mold and water leaks. The proposed new facade would feature a neomodern
Neomodern
Neomodern is a term used to describe a "new simplicity" in art and in reaction to the complexity of postmodern architecture and eclecticism. Neomodern is used on occasion to denote the contemporary period.-Neomodern architecture:...
look, making extensive use of glass and staggered balconies, to provide the units with views of the New Orleans skyline and the Mississippi River
Lower Mississippi River
The Lower Mississippi River is the portion of the Mississippi River downstream of Cairo, Illinois. From the confluence of the Ohio River and Upper Mississippi River at Cairo, the Lower flows just under 1600 kilometers to the Gulf of Mexico...
. Once complete, the building would have including amenities such as a gourmet restaurant, spa, fitness center, indoor pool and retail space. An adjoining building containing a 350-space parking garage and several townhouse units was also planned be renovated. The redesign was originally proposed under the name Crescent City Residences.
The architectural team behind the redesign was composed of Williams Architects of New Orleans and Marks Thomas Architects of Baltimore. Dorian M. Bennett Realtors Inc. had exclusive rights to sell the 350 units, with prices starting at $350,000. Unit sizes were determined, but prices were planned to be in the range of $450 per square foot, similar to prices in the French Quarter
French Quarter
The French Quarter, also known as Vieux Carré, is the oldest neighborhood in the city of New Orleans. When New Orleans was founded in 1718 by Jean-Baptiste Le Moyne de Bienville, the city was originally centered on the French Quarter, or the Vieux Carré as it was known then...
, and about $100 per square foot higher than the nearby Warehouse District.
In November 2005, Giannasca Development Group announced it had secured $24 million to start the redevelopment project. A construction timetable was being developed in light of delays and logistical issues since Hurricane Katrina
Hurricane Katrina
Hurricane Katrina of the 2005 Atlantic hurricane season was a powerful Atlantic hurricane. It is the costliest natural disaster, as well as one of the five deadliest hurricanes, in the history of the United States. Among recorded Atlantic hurricanes, it was the sixth strongest overall...
, with estimates for an opening date in 2008.
In spring 2006, modified plans were released reflecting changes aimed at addressing post-Katrina concerns. This redesign includes glass designed to withstand 200 mi/h winds, a self-contained electrical generator, and an internal water supply, which developers say could make the building self sufficient for three to four weeks. The external design was also changed to a cleaner glass and steel design, removing the needle point and multiedged surfaces of the original design. This new exterior was to consist of gold-tinted wall to wall glass and maroon steel. The price of the project increased from $100 million to $120 million while the number of units has been reduced from 350 to 197. These units were to run from 1080 square feet (100.3 m²) starting at $450,000 to several 3000 square feet (278.7 m²) units costing several million dollars. Three quarters of the units were to have only one bedroom. The project also saw a slight name change to the Crescent City Towers.
In July 2007, the owners defaulted on the mortgage and the Plaza Towers was put on the auction block. Howard Acquisitions, LLC already held the mortgage on the building. Their winning bid protects their investment and gives them full control over the high-rise. The new owners, Plainfield Direct, are remaining tight-lipped about their plans for the building.
On December 19, 2007, Plainfield Direct paid the City of New Orleans $608,000 in back taxes and announced plans to spend $10 million on environmental remediation. This work was set to begin immediately in the parking garage and building annex, work was to begin in the tower in early 2008. Following the remediation work, Plainfield was to partner with developers to put the building back into use.
Such plans did not met with success. In July 2011, the still vacant building announced to be up for auction with bids due by 20 September.
Location
1001 Howard AvenueNew Orleans, LA 70113-2002
The Plaza are bounded by the following streets:
- Howard Avenue (south)
- Loyola Avenue (west)
- Julia Street (north)
- South Rampart StreetRampart StreetRampart Street is a historic avenue located in New Orleans, Louisiana.The upper end of the street is in the New Orleans Central Business District...
(east)