NEW ORLEANS – New Orleans has officially broken ground on its first Class A office building since 1989. Cypress Equities and Lauricella Land Company kicked off construction on the new vertical tower at 1600 Convention Center Boulevard at the corner of Henderson and Euterpe streets. Broadmoor, LLC is serving as the general contractor for the project.
The new office building will serve as the headquarters for Shell at the River District Neighborhood near the New Orleans Convention Center. Louisiana Governor Jeff Landry praised the development, stating, “I was very excited and pleased to hear about the groundbreaking of the new Shell headquarters building at the River District Neighborhood-New Orleans Convention Center. This building represents the type of Louisiana investment and growth potential that we have been advocating for since my election. Congratulations to all parties on this important milestone.”
Innovative Stormwater Management System Installed
As part of the River District development, a state-of-the-art stormwater management system has been installed, marking a significant advancement in sustainable infrastructure for Louisiana. This system, custom-designed for the project, is one of the first of its scale in the state and represents the first StormTrap installation in Louisiana.
The modular system is designed to manage stormwater runoff by temporarily storing excess rainwater during heavy storms. By controlling the release of water, it helps mitigate flooding, reduce erosion, and support compliance with stormwater regulations. The system collects runoff from impervious surfaces such as roads, rooftops, and parking lots, releasing it at a controlled rate to prevent overwhelming the municipal sewer system. These adaptable systems can be used in various settings, including commercial, industrial, and residential developments.
Commitment to Affordable and Workforce Housing
The River District project is not only focused on commercial and environmental sustainability but also on providing affordable and workforce housing. Michael Meredith, a key figure in the development, emphasized the project’s dedication to housing accessibility, stating, “The River District has always put affordable and workforce housing at the forefront of its commitment to developing a neighborhood for all. This development is a transformative asset for New Orleans, where people can live, work, and play together.”
Progress on the housing initiative is well underway, with the development securing federal tax credits and grant money. The first phase of 220 mixed-income housing units is set to begin later this year, with 170 designated as affordable and workforce housing.
Meredith acknowledged the challenges in bringing affordable housing projects to fruition in New Orleans, noting, “In New Orleans, the process of obtaining funding and clearances necessary to produce affordable and workforce housing is complicated and restrictive. Our team has been going above and beyond, working with City and State officials and other stakeholders to streamline this process. We are proud of our progress, and our efforts are on track.”
The River District development represents a major milestone for New Orleans, promising economic growth, environmental sustainability, and housing accessibility in a single, transformative project.
About Cypress Equities
Cypress Equities was founded in 1995 in Dallas, TX with a core focus on single-tenant build-to-suit developments. The portfolio grew quickly and established its national reputation synonymous with the premier development, operation, and management of destination-class commercial and residential properties in the U.S.
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