NOLA.com | The Times-Picayune reports that the Algiers Development District’s board of commissioners have approved an agreement with HRI/ECC to terminate their 75-year lease to manage the Federal City Project.
HRI/ECC was selected in late 2007 to manage the site, but their involvement has been in question since the Navy gave the former Naval Support Activity site in Algiers to the Algiers Development District. The Algiers Development District had sublet its responsibilities in the project to the New Orleans Federal Alliance, which in turn selected HRI/ECC as the master developer. But after the Navy gave the property to the Algiers Development District, some board members questioned the validity of the sublease.
As initially planned, Federal City was to be a mixed-use development anchored by the Marine Corps Support Facility New Orleans, but so far, no big-name tenants have moved to the site.