The redevelopment of the former site of the World Trade Center is once again in limbo as the city of New Orleans announced Wednesday (April 30) that it broke off negotiations with Gatehouse Capital Corp.Doesn't bode well for the proposed taxing district to nowhere.
"Negotiations between the City and Gatehouse Capital for the redevelopment of the former World Trade Center site have been unsuccessful," the Landrieu administration said in a statement. "As arguably the most valued property on the river, this iconic building is prime for redevelopment and should receive fair market value for rent. The City will re-issue a request for proposals within 60 days."
Update: Hmm... not a terrific week for New Orleans Building Corp
A group of food sellers and a real estate developer who hoped to collectively operate the renovated St. Roch Market have tabled their proposal, saying that city leaders never responded to their plan.