May 21, 2013

A New Beginning for Plaza Tower in New Orleans?

The Associated Press is reporting that the lonely, long-vacant Plaza Tower in New Orleans may be given a new life soon.  Local New Orleans developer Bryan Burns has bought the tower and said his plans for the building could include developing it into a a mixed-use residential and commercial complex.  The building’s previous owners, Plainfield Capital, bought the building in 2007 and spent over $12 million gutting it and remediating all the mold and asbestos.  They were unable to sell the building afterwords and ended up auctioning it off earlier this year.