New Orleans Developer Spending $130 Million To Renovate Historic Canal Street Buildings

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jung-hotel-major renovationsThe corner of Canal and LaSalle streets saw some major devastation in the wake of Hurrican Katrina, but one man now wants to undo the damage.

Local New Orleans developer Joseph Jaeger purchased the historic Jung Hotel, and connected buildings in October 2007, and has just announced an unprecedented $130 million redevelopment project for the site.

The Jung Hotel first opened its doors in 1907 and has since become a true icon of New Orleans. It’s redevelopment will be part of an even larger initiative, by New Orleans developers, to rebuild the ‘upper Canal Street’, one of the hardest hit areas of our city.

The plans for the hotel call for 175 apartments, 145 hotel suites and 50,000 square feet of retail, according to the announcement, as well as a new 484-space parking garage.

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