Money Makers
Andrew Valenti, Reporter//January 31, 2018//
$40M Parkway Apartments set to open in 2019
Andrew Valenti, Reporter//January 31, 2018//
Construction is underway on a $40 million mixed-use development in Mid-City, with a projected completion date set for next year.
Developers announced Monday that the 207-unit Parkway Apartments at 4650 Washington Ave. is set to open in spring 2019. The development, bounded by South Clark and Erato Streets and South Jefferson Davis Parkway and Washington Avenue, will offer 313 off-street parking spaces and 13,776 square feet of ground-floor retail space.
The development team consists of Denzel Clark of Citadel Builders, C. Mohan Kailas of Kailas Companies and Todd Trosclair of All Star Electric and chairman of the board of Galatoire’s Restaurants. Kalais is behind the conversion of the former office building at 210 Baronne St. into a Four Winds apartment development and the construction of 1031 Canal Street, a proposed high-rise that includes luxury apartments and a hotel.
“Parkway Apartments will set the standard for luxury apartment living in the Broadmoor and Mid-City areas,” Kailas said in a news release. “The community boasts a rooftop pool and gardens, luxury amenities and a great location only a few minutes away from New Orleans’ CBD.”
The apartment community is designed around an elevated park, and units will have private balconies. Other features include open-air gazebos, barbecue picnic areas, a fitness center and a swimming pool. A dog park and an observation deck will be located on the rear of the building.
The one and two-bedroom apartments will be offered at market rate pricing. Citadel Builders is the general contractor and Harry Baker Smith Architects is listed as the design team.
Developers had to demolish a dilapidated 25,000-square-foot retail building that was located at the site before construction could begin. The development team also requested a conditional use permit, as the lot is zoned C1A, which is designated as a general commercial district.
The City Council unanimously voted to approve a MUPC Mixed-Use Planned Community District overlay at the site in 2015, which effectively cleared the way for the development.
The original plans called for 228 residential units with 330 parking spaces and 15,434 square feet of commercial space, but City Planning Commission staff recommended downsizing to the project’s current density after concerns that original designs did not “appropriately respond to the surrounding development.”
According to the Orleans Parish Assessor’s Office, the group of investors purchased the property for $1.85 million in 2015 from a company known as AGL Industries. Land records indicate the transaction was a cash sale.
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