{"id":1004083921,"date":"2013-09-22T21:09:20","date_gmt":"2013-09-23T05:09:20","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=183855"},"modified":"2022-12-04T14:18:54","modified_gmt":"2022-12-04T22:18:54","slug":"south-market-celebrates-groundbreaking-starts-infrastructure-work","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/south-market-celebrates-groundbreaking-starts-infrastructure-work\/","title":{"rendered":"South Market Celebrates Groundbreaking, Starts Infrastructure Work"},"content":{"rendered":"

By Eliza Theiss, Associate Editor<\/em><\/p>\n

Things are racing along at The South Market District (SoMa)\"\"<\/a>, the Crescent City\u2019s transformative mixed-use transit-oriented downtown project. Developer The Domain Cos. recently hosted a groundbreaking event to celebrate the launch of the district\u2019s first phase, the $48.4 million Paramount building. \u00a0The company also secured financing for and commenced construction on the new infrastructure required to establish the project\u2019s pedestrian-friendly character.<\/p>\n

Infrastructure work at SoMa is a complex undertaking, as the project encompasses a four-block area in historic downtown New Orleans, which it aims to become one of the most walkable areas of the city, connecting three of its most sought-after neighborhoods: the CBD, the historic Warehouse\/Arts District and the Sports\/Entertainment District.<\/p>\n

Girod Street, SoMa\u2019s focal point, is set to become a pedestrian-friendly shopping and entertainment corridor. To increase walkability as well as to better accommodate the caf\u00e9s and restaurants that are to fringe the project\u2019s main artery, Domain secured approval to shut down a traffic lane on Girod and use the extra space to widen sidewalks from the current seven feet to about 20 feet. \u00a0Furthermore, 390 linear feet of street are to be reconstructed with everything from new pavement, curbs and sidewalks to sub-surface drainage, utility piping and driveways to street lights, traffic signals, signage and street trees. Metairie-based Hard Rock Construction is the general contractor on the infrastructure component, which carries a price tag of $930,000. Funding was assembled from company equity, operating as South Market L.L.C., and public loans, grants and funds, such as a $500,000 CDBG loan from the Louisiana Office of Community Development and a $300,000 grant from the Louisiana State Capital Outlay Fund.<\/p>\n

Phase I of SoMa, consisting of the Paramount building, commenced construction in June. The five-story structure will comprise 209 apartments and 22,000 square feet of street-level retail space along Girod, O\u2019Keefe and parts of Lafayette and South Rampart streets. Paramount is set to be LEED Silver\u00a0certified while harmonizing with adjacent neighborhoods, featuring a modern take on the Warehouse District architecture. Retail tenants will be announced this fall, upon commencement of the project\u2019s second phase, a $20 million building featuring 25,000 square feet of retail space and a 435-car parking garage. A further two phases of SoMa, featuring retail and residential space, are set for 2014 and 2015 groundbreakings.<\/p>\n

Rendering courtesy of The Domain Cos.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Things are racing along at The South Market District (SoMa), the Crescent City’s transformative mixed-use transit-oriented downtown project with developer The Domain Companies recently hosting a groundbreaking event to celebrate the launch of The South Market District’s first phase, the $48.4 million Paramount building.<\/p>\n","protected":false},"author":49,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1599],"tags":[1815],"class_list":["post-1004083921","post","type-post","status-publish","format-standard","hentry","category-new-orleans","tag-national"],"acf":[],"yoast_head":"\nSouth Market Celebrates Groundbreaking, Starts Infrastructure Work - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/south-market-celebrates-groundbreaking-starts-infrastructure-work\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Market Celebrates Groundbreaking, Starts Infrastructure Work\" \/>\n<meta property=\"og:description\" content=\"Things are racing along at The South Market District (SoMa), the Crescent City’s transformative mixed-use transit-oriented downtown project with developer The Domain Companies recently hosting a groundbreaking event to celebrate the launch of The South Market District’s first phase, the $48.4 million Paramount building.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/south-market-celebrates-groundbreaking-starts-infrastructure-work\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-09-23T05:09:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-04T22:18:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/09\/SOMA_rendering_gallery_031.jpg\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/south-market-celebrates-groundbreaking-starts-infrastructure-work\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/south-market-celebrates-groundbreaking-starts-infrastructure-work\\\/\"},\"author\":{\"name\":\"Eliza Theiss\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/de1353a5de72f96494054df3ecca7de4\"},\"headline\":\"South Market Celebrates Groundbreaking, Starts Infrastructure Work\",\"datePublished\":\"2013-09-23T05:09:20+00:00\",\"dateModified\":\"2022-12-04T22:18:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/south-market-celebrates-groundbreaking-starts-infrastructure-work\\\/\"},\"wordCount\":397,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/south-market-celebrates-groundbreaking-starts-infrastructure-work\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/09\\\/SOMA_rendering_gallery_031.jpg\",\"keywords\":[\"National\"],\"articleSection\":[\"New Orleans\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/south-market-celebrates-groundbreaking-starts-infrastructure-work\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/south-market-celebrates-groundbreaking-starts-infrastructure-work\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/south-market-celebrates-groundbreaking-starts-infrastructure-work\\\/\",\"name\":\"South Market Celebrates Groundbreaking, Starts Infrastructure Work - 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