BY DESIREE STENNETT | Staff writer / The Advocate

Aaron and Psytia Jordan spent years eyeing the boarded-up building on Lake Forest Boulevard near Read Boulevard in New Orleans East before they finally bought it six years ago.

The Jordans' print shop, Universal Printing, had outgrown its space in the strip mall next door. Instead of paying the escalating rent for a larger unit in the mall, they bought and renovated the eyesore from the owner, bringing back a building that had been blighted since Hurricane Katrina ravaged the area in 2005.

"We did it because we care about the East," said Aaron Jordan, who added that the couple's 13-year-old print shop replaced services lost when Office Depot left the community after the storm. "We thought, 'Hey, that's a blighted piece of property. This will add to beautifying the area, and we provide a service to the community.’"

The Jordans are part of a growing contingent of Black residents, in New Orleans and across the nation, who are "buying back the block," or becoming property owners and revitalizing communities where they live and work. City policy experts tout such investing as key in the revival of predominately Black neighborhoods, which often struggle with devaluation, speculative investing and other barriers to economic growth.

While Black neighborhoods need big, catalytic redevelopment projects, "for every one of those, there are ten smaller projects that could be shovel-ready with much less difficulty — projects with development budgets of $100,000 to $2 million," wrote Lyneir Richardson and Tracy Allen Roh of the Brookings Institution, a think tank that focuses in part on city policy, in a July report.

In other gentrifying areas, buy the block efforts can ensure long-time residents have a say in neighborhood development, the authors said.

The Jordans want to see national investors return to the East, an area that has long struggled to attract big-box retail. But while they wait, they are taking the first steps to reimagine the once-vibrant area.

"You got to tell yourself you can do it. And you've got to take the chance,” Aaron Jordan said. “It's a risk involved. We put our money on the line."

A national movement

The Buy Back the Block movement has been popularized in recent years by rap artists such as Nipsey Hussle, Rick Ross and Jay-Z, who have urged Black residents in various lyrics to move from renting in their communities to owning residential and commercial property.

In majority-Black areas in Rochester, New York, Chicago and Baltimore, either local private investors have answered that call buy ponying up cash independently, or local governments have created incentive programs aimed at encouraging such investing. 

Though city officials didn’t respond this week to questions about similar local programs, at least three aim to make it easier for long-time residents to own property in their neighborhood.

They are the New Orleans Redevelopment Authority’s Choice Neighborhoods Initiative, which aimed to create more homeowners in the city’s Lower 9th Ward; the Lot Next Door, another program from that agency that lets people buy adjacent government-owned property at fair market value; and the city’s Mow To Own program, which gives residents the chance to buy nearby city-owned property after maintaining it for at least a year, for below its fair market value.

At the Mow to Own program’s launch in 2021, Mayor LaToya Cantrell, who worked to pass the local law to create it as a council member, called it “another tool to fight blight, and build transferable wealth for residents in their neighborhood.”

The city has also offered direct assistance to first-time homebuyers with lower incomes through various programs.

Combating misconceptions

Even with motivated local investors and government aid, it can be difficult to build momentum for development in Black neighborhoods forced to fight against misconceptions about crime and limited business viability, and that also struggle with low property values.

To combat some of those problems, the Jordans in 2022 launched the Greater New Orleans East Business Alliance. About 30 other small business owners have already joined. Together, they try to court major retailers and restaurant chains and work to raise the profiles of the small mom-and-pop businesses serving the East.

Aided by a federal tax break, the Jordans say taking a risk on the neighborhood they love is paying off. Years after their first renovation of the building Universal Printing calls home, the Jordans bought a portion of an empty row of offices nearby. They have renovated three of the units so far, bringing in as tenants a workers' union and a law practice, and opening an event venue.

As business at their print shop keeps growing, they are also making plans to move a portion of the operation into the new space.

'Investing in a legacy'

DJ Johnson opened Baldwin and Co. Bookstore and coffee shop on Elysian Fields Avenue in the Marigny near his childhood neighborhood in 2021. He also bought the former Gene’s PoBoys building next door at corner of Elysian Fields and St. Claude avenues, renting it to Credit Human, a credit union opened in what was once a banking desert.

The book store and the credit union are part of Johnson's vision to increase literacy and access to financial institutions for Black and other residents, giving them a fighting chance to escape poverty. He said he hopes his success inspires others to be part of the growth of their own blocks.

Johnson said he hopes to continue to invest in his neighborhood while also looking to open Baldwin and Co. locations in Black neighborhoods in other cities. When longtime residents invest, he said, that is the key to development without displacement.

"We have to reclaim ownership in communities that have long been ours," he said. "It's a stand against the erasure of our culture and history. For me, I'm not just buying real estate. ... I'm investing in a legacy and the idea that this block can be a beacon of Black excellence and resilience."

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After 19 years, the old Six Flags Amusement Park is set to be demolished

The Bayou Phoenix project would also include an 8.5-acre clear water lake for swimming, retail outlets, and other amenities.

 Paul Murphy / WWL Louisiana

 6:24 PM CDT August 30, 2024

NEW ORLEANS — There have been more ups and downs with the old Six Flags Site in New Orleans East than the Mega-Zeph, one of the former amusement park’s signature rides.

Bayou Phoenix Founder Troy Henry says you will soon see cranes in the sky at the site which has been abandoned since Hurricane Katrina 19 years ago.

 

“You’ll see them in the air probably in the next 60 days, tearing down stuff because these are big old rides,” Henry said. “They take cranes to do it. Then we’ll have a master architect actually lay things out finally.”

Last October, Bayou Phoenix signed a 50-year lease with the New Orleans Redevelopment Authority (NORA) which owns the land.

Henry says they are just wrapping up a facility condition assessment of the 227-acre site.

“That assessment helps us to determine the conditions of the grounds and pilings and infrastructure so that we can make a final placement on what venues can go where on the property."

After everything is demolished above the slab of the old park, development is set to begin.

According to Henry, the construction of the new E. Ross movie studio complex is expected to start in the first quarter of next year.

Once a youth sports operator is chosen, work will then begin on the new ball fields and indoor sports facilities.

“They’ll do a facility, we think will be about 12-16 fields, baseball, football, that kind of thing, soccer,” Henry said. “Then the indoor will have 9 basketball courts, 16 volleyball courts.”

Bayou Phoenix is still lining up the anchor hotels and water park operators which are expected to finance their piece of the project.

“The hoteliers that we’re talking about, we believe are probably best suited to be adjacent to the water park, so they can literally walk indoors from the hotel to the water park,” Henry said.

The project would also include an 8.5-acre clear water lake for swimming, retail outlets, and other amenities.

While there is still much work to do, Henry now hopes to have the first phase of the park completed and opened in 2027.

Hilco Real Estate Sales Announces Online Auction of 100± Residential Sites throughout New Orleans on Behalf of the New Orleans Redevelopment Authority

27th August 2024

NEW ORLEANSAug. 27, 2024 /PRNewswire/ -- As a follow up to previous successful real estate auctions conducted by the New Orleans Redevelopment Authority (NORA), the agency will be conducting its next online auction sale of 100± Residential vacant lots located throughout New Orleans. Properties are subject to a minimum bid price of $4,000 per property. Bidding for this online auction event will commence at 8:00 a.m. (CT) Tuesday, September 17, 2024, and conclude between 12:00 p.m. and 6:00 p.m. (CT) on Wednesday, September 18, 2024. The auctioneer is Hilco Real Estate, LLC, in conjunction with licensed Louisiana broker and auctioneer Paul A. Lynn, CCIM.

"As with our past auctions, we are continuing to receive hundreds of inquiries. We are excited to make this next pool of properties available through this online auction," said Brenda Breaux, NORA's executive director. "During the previous auctions, home buyers and developers were able to establish their own purchase price through the competitive bidding process. Buyers felt they were able to obtain properties in various neighborhoods throughout New Orleans at fair prices," stated Fernando Palacios, a strategic consultant with Hilco Real Estate Sales.

The properties are being sold on an "as-is, where-is" basis. Winning bidders are required to complete rehabilitation or construction on the properties within 18 months of closing. The buyers are required to keep such properties code compliant immediately after closing through completion of the rehabilitation or construction. Bidders for the sites may use the property for green space if their property is directly adjacent to the property acquired at the auction. There is one (1) structure that will be open before the auction for inspection on Wednesday, September 11, 202411:00 a.m. – 3:00 p.m.

Closing is required within 30 calendar days after the auction and financing will not be a contingency so buyers will need to know they can close on their purchase within the required timeframe and have available pre-approval for their own personal financing. Buyers must obtain and maintain flood insurance for any structures as a condition of closing. There will be a virtual "Buyers' Seminar" on Tuesday, September 10, 2024, at 5:30 p.m. (CT)

For more information, including registration requirements, about this NORA auction, please contact Fernando Palacios at (504) 500-1891 or visit hilcorealestatesales.com/NORA.

The terms and conditions set forth herein are for informational purposes only and shall not be deemed to be and are not intended to be a comprehensive or complete listing of the applicable terms and conditions. All potential buyers should read carefully the terms and conditions of the auction and sale set forth at hilcorealestatesales.com/NORA. The terms and conditions set forth at hilcorealestatesales.com/NORA shall govern and shall supersede any terms and conditions set forth herein.

For further information on the properties, sale process and terms, please visit HilcoRealEstateSales.com or call (855) 755-2300.

About Hilco Real Estate Sales
Successfully positioning the real estate holdings within a company's portfolio is a material component of establishing and maintaining a strong financial foundation for long-term success. At Hilco Real Estate Sales (HRE), a Hilco Global company (HilcoGlobal.com), we advise and execute strategies to assist clients seeking to optimize their real estate assets, improve cash flow, maximize asset value and minimize liabilities and portfolio risk. We help clients traverse complex transactions and transitions, coordinating with internal and external networks and constituents to navigate ever-challenging market environments.

The trusted, full-service HRE team has secured billions in value for hundreds of clients over 20+ years. We are deeply experienced in complex transactions including artful lease renegotiation, multi-faceted sales structures, strategic asset management and capital optimization. We understand the legal, financial and real estate components of the process, all of which are vital to a successful outcome. HRE can help identify the most viable options and direction for a company and its real estate portfolio, delivering impressive results in every situation. 

SOURCE Hilco Real Estate

Aug 29, 2024 -Business

Six Flags' demolition expected to start in September


Six Flags originally opened as Jazzland in 2000 and has been vacant since Hurricane Katrina. Here's what it looked like in June. Photo: Emily Kask/Washington Post via Getty Images

Contractors are expected to start demolishing the former Six Flags' rides and attractions next month in New Orleans, the developer says.

Why it matters: The abandoned theme park is one of the city's most visible reminders left from Hurricane Katrina's devastation 19 years ago today.

The big picture: Bayou Phoenix, the redevelopment company for the project, plans to transform the overgrown site in New Orleans East into a bustling $500 million complex with youth sports fields, hotels, shops, a movie studio and a waterpark.

  • The New Orleans Redevelopment Authority approved the master plan last year and signed a lease with Bayou Phoenix for the 227-acre site.
  • The developers are seeking about $100 million in government funding for infrastructure, Bayou Phoenix's Troy Henry tells Axios. Other pieces will be self-financed, he said.
Image shows a rendering of a development plan for the Bayou Phoenix project.
This rendering gives an aerial view of the developments proposed in the master plan. Image: Courtesy of Bayou Phoenix

Catch up quick: Jazzland opened in 2000 near the intersection of Interstate 10 and Interstate 510.

The latest: Bayou Phoenix is in final negotiations with a demolition company, Henry said, with the goal of starting work in September.

  • All the old rides are coming down, Henry said, along with most of the buildings. Two appear to be salvageable but plans could change.
  • Demolition is expected to take about five months with good weather. He hopes to be finished before New Orleans hosts the Super Bowl in February 2025.
  • He declined to name the demolition company until the contract is signed.
Image shows a ferris wheel and other abandoned buildings at Six Flags in New Orleans.
This is what the site looked like in June. Photo: Emily Kask/Washington Post via Getty Images

Zoom in: Elvin Ross, an award-winning composer and frequent collaborator with Tyler Perry Studios, has signed on to build e. ross studios Jazzland on the property, Henry says.

  • The studio's website says Ross plans to transform the space into a motion picture and television studio as well as a regional entertainment hub with six sound stages, base camp, support space and a backlot.

What we're watching: Bayou Phoenix is waiting for the site assessment results so they can see if the slabs are reusable and if the soil conditions are appropriate for the uses in the master plan.

  • If the slabs and pilings have to be removed, it will drive up demo and construction costs.
  • The U.S. Army Corps of Engineers also must evaluate the wetlands on the property, which could mean additional changes and mitigation efforts.
Photo shows an alligator in a swamp.
An alligator is seen inside the abandoned Six Flags Jazzland in New Orleans on June 6, 2024. Photo: Emily Kask/Washington Post via Getty Images

Until then, Henry said he is focusing on securing what he's calling the project's anchors.

  • In addition to the film studio, he's negotiating with youth sports complex operators and hoteliers.
  • The retailers and restaurants will come after that, he said, along with a 9-acre clearwater beach and water park.
  • The goal is to have construction finished in 2027.
Image shows abandoned rollercoaster tracks.
Photo: Emily Kask/Washington Post via Getty Images

Yes, but: Other redevelopment projects for the property have flopped and residents are skeptical.

  • "Hide in the bushes and watch us do it," Henry said at his high-rise office on Poydras Street. "Their skepticism doesn't bother me one bit. In fact, I welcome it. It just motivates our team more. We're very confident in this project."

What's next: Bayou Phoenix plans to host an event in the coming weeks to announce the name of the demolition company and provide more details about the project's next steps, Henry said.

  • The company is also working on coming up with a name for the development.

Go deeper:

Photo shows blighted rides at Six Flags in New Orleans.
Photo: Emily Kask/Washington Post via Getty Images
Photo shows blighted rides at Six Flags in New Orleans.
Photo: Emily Kask/Washington Post via Getty Images
Photo shows blighted rides at Six Flags in New Orleans.
Photo: Emily Kask/Washington Post via Getty Images
Photo shows blighted rides at Six Flags in New Orleans.
Photo: Emily Kask/Washington Post via Getty Images
Photo shows blighted rides at Six Flags in New Orleans.
Photo: Emily Kask/The Washington Post via Getty Images

Historic Dew Drop Inn Prepares to Reopen Following Million-Dollar Renovation

27th November 2023   · 

By Ryan Whirty
Contributing Writer

The tale is now the stuff of legend. The great Little Richard, who was in New Orleans for a recording session, was frustrating producer Bumps Blackwell, who wasn’t thrilled with the syrupy ballads Richard was offering.

Frustrated, the group of musicians drifted across Lasalle Street to the Dew Drop Inn, one of the most important R&B and jazz clubs in New Orleans, a swinging hotel/bar/nightclub/cafe that hosted the greatest Black musicians of the day.

Richard commandeered a piano at the Dew Drop and began pounding out a raucous, bawdy rave-up that he’d had as part of his live shows for a while. Blackwell and others loved it, and – following some lyrical changes to make it PG-13 – “Tutti Frutti” became one of the greatest songs in rock ’n’ roll history.

A decade and a half later, Richard would cut the song “Dew Drop Inn” for his 1970 album “The Rill Thing” as a tribute to and thank you for the New Orleans club that helped him become one of the creators of rock ’n’ roll:

“Down at the Dew Drop Inn/You meet all your fine friends/ Baby do drop in/I’ll meet you at the Dew Drop Inn.”

There are many stories about the Dew Drop Inn’s glorious heyday as one of the most prestigious and influential loci of Black music for several decades in the mid-20th century. Owned by visionary Big Easy entrepreneur Frank G. Painia, the Dew Drop not only served as a petri dish for classic American music, but it also flouted Louisiana’s Jim Crow segregation laws by brazenly welcoming Black and white patrons, and the inn became a vital part of the New Orleans community, commerce, economy and culture. Numerous civil rights activists also gathered at the hotel and club, where they strategized their efforts to dismantle racial oppression.

After shuttering its doors by the early 1970s, however, the property at 2836 Lasalle Street went through a series of occupants and underwent several changes in uses. But none of those relaunches or renovations could gain any traction, and Dew Drop fell into disrepair before completely shutting down with the destruction wrought by Hurricane Katrina.

But now, thanks to an ambitious, determined investor and new owner, the once-great Dew Drop Inn is on the verge of a remarkable revival that those behind its rising from the ashes hope will harken back to the club and hotel’s chaotic, vibrant and influential glory days.

At the source of the property’s rebirth is New Orleans native and local real-estate developer Curtis Doucette Jr., whose business activity and investments often focus on places with special importance to New Orleans’ Black cultural, social and economic history. That focus spurred him to purchase the Dew Drop property in 2021 and quickly set about renovating and rehabbing the site, with the goal of opening it again as a hotel, music venue, night club and social gathering place that harkens back to the Dew Drop’s peak under Painia.

When completed and opened, the building will offer 17 hotel rooms, including three suites; a restaurant that will serve authentic New Orleans cuisine and could be leased out; a 410-person music venue; and a pool that will be open to the community.

The new edition of the Dew Drop will retain most of the original hotel corridors, balconies and doorways, and the furnishings, artworks and other facets of the facility will harken back to mid-20th-century fashion and design trends. Overall, Doucette and his partners hope to replicate the original Dew Drop as closely as possible while also adding modern touches and amenities.

Doucette said the entire project will cost roughly $11 million, with $6 million of it going to the construction costs. He said financing for the project has come from a variety of resources, including $3.6 million in federal Community Development Block Grant funding, and tax credits for new businesses and historical properties, “and old fashioned equity.”

Doucette said raising money from private and commercial sources was relatively easy because as a project, revitalizing such an important, historic location almost sells itself.

“If you can’t raise money for the Dew Drop Inn, you can’t raise money for anything,” he said. “I’ve never had a project that’s so beloved as this one is.”

He added that when recruiting development partners, investors and other participants for the renovation, he required that each person that was brought about had passion for and pride in the location and its legacy. “You’ve got to have love for the project,” he said. “You’ve got to have reverence for the project and for what it stands for if you want to work on this project.”

Doucette and his partners worked closely with the New Orleans Redevelopment Authority, a public agency created by the state in 1968 as a vehicle for the revitalization of underinvested locations throughout the city.

Brenda M. Breaux, NORA executive director, said her organization is providing $900,000 in permanent debt financing for the Dew Drop site at a substantially-below-market interest rate. NORA expanded its Commercial Corridor Gap Financing Program to include Lasalle Street, a move that will boost redevelopment of properties along that corridor, possibly including the Dew Drop location.

Breaux noted that the Dew Drop “is a site of great importance to the city, state and nation,” adding that “[i]ts contributions to Black history and music are well-documented.” As a result, she said, NORA wanted to play a key role in providing technical assistance and financing for the project, partnering with the state of Louisiana and private financiers.

But, even with the Dew Drop site nearing completion and its grand opening closing in, there’s still much work to be done, Breaux said,

“The historic restoration of this property has eliminated slum and blight conditions and is already contributing to further revitalization and confidence in the Lasalle Street corridor,” she said. “However, NORA recognizes that the restoration of the building alone will not make the project a success. As we approach the grand opening, NORA continues to work with and support the developer to ensure that both the hotel and entertainment businesses are positioned to thrive in the future.”

The architect hired to undertake the planning, design and construction aspects was Studio Kiro, a New Orleans-based firm headed by principal architect Miwako Hattori. Ryan Gootee General Contractors was selected to undertake the construction work, and company Vice President of Communications Kristian Sonnier said his firm was excited to tackle the project.

“This is the kind of stuff we like to do,” Sonnier said at a pre-opening tour event given to local business leaders over the summer. “We do a lot of these types of projects, but when we have the opportunity to preserve the musical culture of the city, we get kind of geeked out,” Sonnier said. “I’m eager to see live music here and eat at the restaurant.”

Doucette said the project’s construction operations have been completed, and all necessary permitting for the revived building and business has been obtained. A date for the club’s grand opening hasn’t been set yet, but Doucette and his partners are aiming for an event in December.

Once open, the new Dew Drop will serve multiple purposes – first, as an active, in-demand hotel, club and pool that caters to all sectors of tourists and locals, and second, as a historical preservation and education center that can act as a cultural repository of days gone by.

In fact, each guest room will be named after one of the music and cultural legends who stayed at or performed in the original Dew Drop Inn, with each room having vintage displays, memorabilia and treasures honoring that particular artist.

“A big part of what we intend to do is make part of it a museum of the different artists who came through here,” Doucette said.

Local civic leaders are equally excited about the revival of the Dew Drop Inn and what it could mean to the community.

“The historic Dew Drop Inn was essential to the cultural fabric of New Orleans, with iconic Black musicians such as Ray Charles, Little Richard and Fats Domino performing in its renowned music venue,” said District B City Councilwoman Lesli Harris. “The revitalization of this gem in District B (specifically Central City) will benefit residents, tourists and inspire local musicians as they continue the time-honored, musical and artistic traditions for generations to come.”

Doucette said one of his biggest goals with the project is making the Dew Drop a beloved and vital part of the local community once again.

“I certainly hope the community will embrace it like it’s theirs,” Doucette said. “There are a lot of people who have a deep ownership of the Dew Drop. There’s a sense of pride with it.”

This article originally published in the November 27, 2023 print edition of The Louisiana Weekly newspaper.