NEW ORLEANS — The Domain Cos. has secured financing and begun construction of the second building in The South Market District, a four-block mixed-use development in downtown New Orleans. The Domain Cos. expects development costs for the building to total $21.3 million. The new property, The Park at South Market, will feature 27,000 square feet of retail space, a 2,200-square-foot public plaza and a 440-space parking garage. The property will feature charging stations for electric cars and an open rooftop that will serve as an entertainment venue. New Orleans-based Eskew Dumez and Ripple designed the five-story building, and Woodward Design+Build is the project’s general contractor. First NBC Bank provided a $16 million construction loan for the project and a $2 million New Markets Tax Credit equity investment. The Domain Cos. and Woodward Interests, an affiliate of Woodward Design+Build, provided equity for the project as well. Furniture retailer Arhaus has leased 15,500 square feet at the property, and pet groomer Fetch has leased 1,500 square feet. The Domain Cos. will deliver the property in October.
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