New Orleans Building Corporation to Erect Fencing Around Parking Lots Under U.S. 90/ Pontchartrain Expressway

NEW ORLEANS – (RealEstateRama) — Today, the New Orleans Building Corporation (NOBC) – the City of New Orleans’ public benefit corporation – announced that it will erect fencing around the surface parking lots under the U.S. 90/ Pontchartrain Expressway. In total, four parking lots under the expressway along Calliope Street from St. Charles Avenue to S. Rampart Street/Loyola Avenue will be fenced so that they may be returned to commerce as managed parking.

Cedric Grant, Acting CEO of NOBC, said, “Right now, parking in the Central Business District is in high demand. Because of the limited number of on-street parking space available, returning this area to commerce will decrease traffic congestion and increase accessibility which will ultimately improve commerce. Fencing this area and having it managed as parking will also help to keep the area more clean.”

In 2012, the City permanently closed these parking lots to allow the City to have better site control to prevent homeless encampments from forming. In 2014, the City of New Orleans entered into a Cooperative Endeavor Agreement (CEA) with the Louisiana Department of Transportation and Development (DOTD) to develop the area under the U.S. 90/ Pontchartrain Expressway as managed parking. Erecting a fence is a condition of the City’s obligation to DOTD under this CEA. The fencing will allow the City to have better managed control of this area while NOBC negotiates with parties interested in leasing the parking lots at market rate. This spring, NOBC will release a bid for an operator to manage these parking lots. The parking lots will remain closed to parking until an operator is selected.

In total, the fencing costs approximately $332,000. NOBC is funding this improvement project from proceeds from its operation of the Union Passenger Terminal. Contractors on this project are The Gordian Group and FHPaschen. Construction of the fencing will be completed by mid-April 2016.

SHARE
Previous articleCity to Hold Monthly Online Auction for Adjudicated Properties This Wednesday
Next articleMayor Landrieu Announces 2016 Welcome Table New Orleans Outlook