CityBusiness: Plaza Tower, WTC not expected to return as office space anytime soon

CityBusiness has a new article about the amount of office space in New Orleans, particularly the 45-floor Plaza Tower and the 33-floor World Trade Center.

According to CityBusiness, both buildings are likely to remain empty towers in the near term.

The Plaza Tower went up for auction last month, but results of the sale have not been released yet.

As for the World Trade Center, the city agreed to purchase the site from the WTC organization for $2.24 million in January, though the sale has not yet been finalized, said Conny Willems, the WTC’s immediate past president who is negotiating on behalf of the organization.

The estimated occupancy rate for apartments in the CBD is now at about 96 percent and 85% for class A office space so most experts predict that most future development will be residential.

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