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Message
NOLA World Trade Center set to become Four Seasons
Posted on 3/24/15 at 11:06 am
Posted on 3/24/15 at 11:06 am
Live coverage of the meeting
5 proposals
5 proposals
quote:
Hartmann: Hotel Alessandra offering $23 million at lease signing, upfront
Oxford -- $5 million at least signing
HRI -- $500,000 at lease signing, but pay $10 million upfront rent after financial closing.
Four Seasons -- $5 million upfront, most of that would be escrowed after financing.
Conrad -- $10 million at lease signing
quote:
Upfront nonrefundable lease deposit will act as a gauge of how confident the developer is in obtaining their financing "and how much they're willing to risk," Scott Whittaker said.
quote:
Total fixed rent payment to the New Orleans Building Corp. in present value
Conrad $102. 6 million
Four Seasons: $58.4 million
HRI Crescent: $87.3 million
Oxford Godfrey: $103.1 million
Alessandra: $94.8 million
quote:
The city could borrow against a lease and get same result as getting direct upfront lump payment.
quote:
Scott Whittaker notes that the lowest offer from this group is more than five times what Gatehouse offered when selected in last failed World Trade Center selection process.
Andy Koppling, deputy mayor, said the city made the right choice in stopping negotiations with Gatehouse and starting over, even there was "a lot of concern and consternation" about that choice from some in the city.
quote:
It is a 99 year lease
quote:
Total New Orleans Building Corp. potential income in net present value.
Alessandra: $165.6 million
Oxford-Godfrey: $119.8 million (doesn't have attraction)
HRI: $123 million
Four Seasons: $63.4 million
Conrad: $113 million
quote:
Andy Kopplin brings up the attractions. HRI's is inside the building. Two Canal Street Investors is outside, where ferry terminal is presently, on Transportation Department property.
Kopplin said the Conrad hotel's larger proposals for more riverfront property development was discounted as outside the RFP. Why aren't we doing that as well with the Tricentennial Tower in the Alessandra proposal?
Whittaker: The financial projections did not take into consideration the legal issue you're raising. As legal counsel, I would say it's very appropriate for the committee to discount the tower in its analysis.
quote:
Hartmann said, in terms of total city potential economic benefit, combination of rent and tax benefits
Conrad: $356 million
Four Seasons: $405 million
HRI: $302 million
Oxford Godfrey: $331 million
Alessandra: $446 million (That does include the observation tower attraction income)
quote:
When including the state tax revenues
Conrad: $506 million
Four Seasons: $604 million
HRI: $372 million
Oxford: $455 million
Alessandra: $625 million
quote:
Third analysis -- only fixed rents to New Orleans Building Corp. (so no attraction or percentage rents, the more speculative income) combined with tax revenues:
Conrad: $347 million
Four Seasons: $400 million
HRI: $266 million
Oxford: $315 million
Alessandra: $375 million
This post was edited on 3/24/15 at 1:23 pm
Posted on 3/24/15 at 11:08 am to Mr.Perfect
Option 1 : if it's going to bring kim and kanye to the city.. no thanks
Posted on 3/24/15 at 11:19 am to LSUTygerFan
The people who came up with option 1 are idiots...what are you going to do with the Canal St Ferry?
Posted on 3/24/15 at 11:21 am to Mr.Perfect
Why in the frick is the city in the real estate business?
There is no reason for the city to be owning such expensive pieces of property and renting it out. Corrupt motherfrickers with an easy way to be corrupt.
Why don't they sell the building and land and put the money in public coffers. Maybe hire some more police?
There is no reason for the city to be owning such expensive pieces of property and renting it out. Corrupt motherfrickers with an easy way to be corrupt.
Why don't they sell the building and land and put the money in public coffers. Maybe hire some more police?
Posted on 3/24/15 at 11:22 am to LSUTygerFan
What the frick is Kanye West and Kardassian doing on the images?
Posted on 3/24/15 at 11:24 am to LSUTygerFan
I'm terribly confused by the look of that grey vehicle. It appears to be the rear, but it has a grill.
Posted on 3/24/15 at 11:28 am to Mr.Perfect
I'm on board with this only if it holds more than the superdome. I want the city folk to live large during the next hurricane.
Posted on 3/24/15 at 11:30 am to Mr.Perfect
How is hotel alessandra winning? It looks fricking childish.
The Godfrey, Four Seasons and Conrad all look far superior
The Godfrey, Four Seasons and Conrad all look far superior
Posted on 3/24/15 at 11:32 am to Pettifogger
quote:
How is hotel alessandra winning? It looks fricking childish.
$$$
Posted on 3/24/15 at 11:33 am to Black n Gold
Late 2000s Cadillac DTS
Posted on 3/24/15 at 11:33 am to Pettifogger
Put me down for the Conrad or Four Seasons.
Posted on 3/24/15 at 11:33 am to Pettifogger
Alessandra looks like a high school brainstorming project for art class. Is this real life?
Posted on 3/24/15 at 11:35 am to Pettifogger
quote:
How is hotel alessandra winning? It looks fricking childish.
What do you mean by winning? The links are blocked for me.
Posted on 3/24/15 at 11:35 am to RollDatRoll
quote:
Put me down for the Conrad or Four Seasons.
my take has been conrad 1, four seasons as the alternate.....
conrad pairs with the existing hilton, and the company has a good working relationship with the riverwalk.... it all seems too obvious.
Posted on 3/24/15 at 11:38 am to dagrippa
quote:
Alessandra looks like a high school brainstorming project for art class. Is this real life?
Was it presented on a white foldout poster board?
Posted on 3/24/15 at 11:38 am to Black n Gold
quote:
What do you mean by winning? The links are blocked for me
I am updating the OP with comments from the meeting
Posted on 3/24/15 at 11:40 am to Mr.Perfect
They have been talking about making this a hotel for years. When i was still in New Orleans working before Kitrina, i was doing preliminary design and cost for the lower half the building being converted into a Hotel in phase I and doing the upper half in phase II
most of the building was gutting and shell space at the time.
most of the building was gutting and shell space at the time.
Posted on 3/24/15 at 11:41 am to SuperSaint
quote:They tried to sell the building before but nobody wanted just the building. The city wouldn't part with the parking garage because it makes too much money.
Why don't they sell the building and land and put the money in public coffers.
Posted on 3/24/15 at 11:43 am to Black n Gold
quote:
What do you mean by winning? The links are blocked for me.
I meant the online poll. Have no idea how competitive it is IRL.
But the renderings are amusing. As someone said, it's like a high schooler did it in MS Paint and then superimposed some shitty cars and Kanye onto it.
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