User:Cmbourg4/Charity Hospital (New Orleans)

Plans to redevelop the site
There have been several efforts to renovate or restore Charity Hospital. In October 2019, LSU, the organization that has owned the structure since the 2005 evacuation and subsequent closure of the hospital, approved a redevelopment project to turn the former hospital into a mix of homes, retail space and other facilities. The redevelopment project had been long-awaited by city leaders hoping to revitalize the former "booming" central business district that has been suffering since the closure of Charity and surrounding buildings due to Hurricane Katrina. The contract was awarded to a group called 1532 Tulane Partners, a joint venture between New Orleans-based CCNO and Israeli development company El-Ad Group. Work was originally projected to begin Fall 2019. The redevelopment project is expected to cost upwards of $300 million that will be partly funded by tax credits, and the building will not be subject to property tax as the building will still be owned by LSU. The structure will include about 390 residential units plus retail shops and restaurants. Tulane University will serve as the main tenant of the building as they will use it for student housing and offices. Tulane officially signed a long-term lease for the building in November 2021, where they will occupy over a third of the one million square feet of the building one renovations are complete. Estimations now predict completion by 2025.