Wednesday, September 18, 2013

Speaking of real estate opportunities

After the Saints-Falcons game two Sundays back, we took a walk down to the Quarter (as is often the custom.) Along the way I noticed the Orpheum has a sign up again.


For some reason, I'd thought this had all been settled. But apparently I was wrong, so, like Villere did with his ferry landing, I went home and googled it.
Disgruntled investors in the long-shuttered Orpheum Theater have taken ownership of the historic property and put it up for sale for the third time in eight years. The 1921 beaux-arts theater, left largely untouched since Hurricane Katrina despite promises of renovation and revival, was listed on the market for $2 million Friday.
The theater took heavy flood damage after Katrina. Things have only gotten messier since. Just go read the above article if you want to details of the weird dealings, sales, and re-sales.  The upshot is there are about $10 million in renovations to be done on top of that $2 million asking price. 


Jen L said...

Some renovation was done...but not much. They kept losing construction workers because the space is supposed to be haunted. And, nope, I'm not joking.

jeffrey said...

Well if it wasn't before, it is now.