September 2008

930 Poydras

THE PROJECT

In September 2008, AMCREF Community Capital (AMCREF) provided $6 million of NMTC financing to 930 Poydras, a 21-story mixed-use development in New Orleans’ Central Business District (CBD). The project was the first new high-rise construction in the CBD since Hurricane Katrina in 2005. 930 Poydras features 250 rental apartments, a public parking garage and 230,000 square feet of retail space, all of which were essential for the revitalization of New Orleans’ CBD. The development was completed in the fall of 2009 and all of the 250 apartments are rented and the retail space is fully occupied. During the design and construction phases, energy efficient building techniques were implemented to reduce tenant energy costs.

COMMUNITY IMPACT

The 930 Poydras development is a beneficial project that serves as a model and a hub for future development in the New Orleans CBD. Positive community impacts include:

  • Job Creation: 930 Poydras and its tenant businesses employ 65 FTE jobs. 247 construction jobs were created during the construction phase.
  • Catalytic Effect: As the first new mixed-use high rise in New Orleans’ CBD post-Katrina, 930 Poydras was instrumental in revitalizing a portion of the city’s business district which had remained economically depressed and relatively under-utilized. Since 930 Poydras began leasing space in late 2009, numerous other projects have been completed within a few blocks of the facility, including the first grocery store to be developed in the CBD, multiple restaurants and additional housing units. 930 Poydras has served as a catalyst for establishing a vibrant, professional urban community in the CBD, thereby helping to support the city’s recovery efforts after Hurricane Katrina.
  • Project Design Awards:
    • National American Institute of Architects (AIA) Housing Award, “Residential Tower, Architecture, Honor Award”, 2010
    • South Central Construction, “Best in Architecture & Multi-Family Residential”, 2010
    • Associated Builders & Contractors, Inc. (ABC) New Orleans/Bayou Chapter, “Excellence in Construction”, 2010
    • American Concrete Institute, “Award of Excellence”, 2010