New Luxury Condominium Breaks Ground In Lafayette Square
NEW ORLEANS – This month, developers are breaking ground on a new condominium building at 731 St. Charles Ave. in the Lafayette Square Historic District. The current building will be transformed into a luxurious 67-unit mixed-use development with residential and commercial space, developers said.
The site at 731 St. Charles Ave. was originally the location of the Washington Artillery, which housed an armory, as well as the grand halls that were used for the first Mardi Gras balls. Most notably, the grand hall hosted Rex, King of Carnival’s first Reception Ball in 1873. The building was known as the “Carnival Palace” from 1878-1906 for Rex and his royal consort.
In 1965, an office building was built on the site and housed various state offices until the Montagnet family bought it in 2015 through the development entity, 731 St. Charles Avenue, L.L.C. The existing building and parking garage will be updated to make way for a five-story building that will front both St. Charles Avenue and Carondelet Street.
“We are thrilled to take a building on historic St. Charles Avenue that has been an eyesore for decades and breathe new life into it, making it a premier place to live in Downtown New Orleans,” said Steve Montagnet, the principal of 731 St. Charles Avenue, L.L.C. “731 St. Charles Ave., like many buildings in New Orleans, is part of a larger story of a growing downtown. With the site’s interesting history, we look forward to toasting Rex from this address once again.”
Condo owners will have private balconies or direct courtyard access, garage parking, swimming pool, sun deck and an exclusive rooftop entertaining area and dog walk. Interiors will feature designer finishes and fixtures, such as European oak wood floors, GE Profile “Slate” appliances with gas ranges, French doors, stone countertops, frameless glass showers and walk-in closets.
The building offers a central location for optimum downtown living, developers said, providing direct access to the streetcar line and Lafayette Square in the heart of downtown. The condos are also located near many of New Orleans’ most iconic restaurants, including Herbsaint, Pêche, Marcello’s and Desi Vega’s.
Construction is expected to be completed in the Spring of 2018.
A wide variety of one- and two-bedroom residential unit floor plans (735 sq. feet – 1,552 sq. feet) are available, with prices beginning at $400,000. The building will also feature 2,131 square feet of ground floor commercial space for sale.