Hotel developers purchase Oil & Gas building in the New Orleans CBD

1010 CommonNOLA.com | The Times-Picayune reports that NOLA Lodging LLC, a group of developers affiliated with Baywood Hotels, purchased the vacant Oil & Gas building on Tulane Avenue from the Renaissance Neighborhood Development Corporation. The deal also includes the purchase of two adjacent parcels at 1116 Tulane Ave. and 211 S. Rampart St. Renaissance had planned to redevelop the 14-story office tower located at 1100 Tulane Ave. as affordable housing. The Oil & Gas building was built in 1959 and placed on the National Register of Historic Places in February. The original architects were August Perez & Associates and Edward B. Silverstein and Associates.

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