3 Acre HU-MU Holy Cross Development Site, 100+ Unit Potential

Vacant Land for Sale
Catylist Listing ID: 30862598
Property Subtypes: Agricultural, Hospitality, Multi-Family, Office, Residential (Single Family), Retail
Gross Land Area: 2,500 - 132,000 SF
Sale Price: $35,000 - 1,875,000
Land Splits Available: Yes
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/10/2024

Overview / Comments

Phenomenal development site located in the historic Holy Cross neighborhood, the first street off the St Claude ave bridge and directly adjacent to the Holy Cross School redevelopment(in construction), with HU-MU mixed use zoning. This site offers a wide range of possibilities ranging from single family, to multi family, to commercial uses.

As a single/ two family/ 4plex project, the site can accomodate 41 home sites, with 13 lots already created.

As a multi family/commerical project, zoning allows a market rate development between 132-165 units, and with a 5% affordable unit set aside, the site can legally accomodate between 189-236 units in total

A mixed use development can accomodate 29 individual home sites and a 53-76 multifamily units

Owner willing to sell 13 individual parcels that have already been subdivided, ranging from $35,000-79,000 per lot.

On a development parcel basis, property may be split between subdivided parcels, and undivided land:
-Site 1: Subdivded parcels contain 13 lots, 38,500sf and may be purchased for $549,000.
-Site 2: Unsubdivded parcel contains 93,500sf and may be purchased for $1,325,000

Flood zone X on historically high and dry location, just a few blocks to the River. Soil boring samples completed, and pilings not required for single family construction

Developer has already built a mixed use building that is for sale seperately:

4999 Burgundy: Mixed use commercial/residential, 2300sf, $399,000


Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Northshore / N.O. East
Tax ID/APN: 39W202214
Zoning: HU-MU
Property Located Between: Deslonde and Reynes
Property Visibility: Good
Largest Nearby Street: St Claude
Lot Frontage: 320
Lot Depth: 413

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,281 115,361 317,403
Median Age: 36.28 36.98 36.09
Households: 4,504 49,089 130,947


Photograph of Listing Agent

Peter B Gardner

Keller Williams Realty New Orleans New Orleans, LA 70118-1022
LACDB Member
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