New Orleans - The Howard Hughes Corporation (HHC), owner of The Outlet Collection at Riverwalk, will join the 2 Canal Redevelopment Group for the World Trade Center revitalization project, a comprehensive vision for $1 billion in potential development that features Hilton Worldwide's luxury brand The Conrad and unlocks the necessary resources for redevelopment of the area from the Aquarium of the Americas through the Morial Convention Center.

In partnership with 2 Canal Redevelopment LLC, Howard Hughes has established a position in the planning of the project and is actively considering being an investor partner. The 2 Canal Redevelopment team is led by four of New Orleans' premier individuals in community leadership, real estate development and philanthropy, Darryl Berger, Roger Ogden. Joseph Jaeger and Dr. Norman Francis. Their proposal calls for the redevelopment of the World Trade Center into a five-star luxury Conrad Hotel and Residences. Hilton Worldwide is partnering with this group in the hotel and residence development in the World Trade Center. Hilton Worldwide also owns the Hilton Riverside and property at the foot of Poydras St., between the World Trade Center and the Convention Center.

In a letter to the City Selection Committee, Howard Hughes Corporation President Grant Herlitz said, "As a neighboring property owner with a vested interest in the area, it is our view that the vision and collaborative spirit of 2 Canal Redevelopment, LLC to work alongside other stakeholders, including the Convention Center, Hilton and the City to create a powerful, transformative development will ultimately deliver the most successful project. The site represents immense economic development potential."

"We intend to help unlock the value of this real estate, creating an exceptional riverfront experience for locals and visitors while preserving our property rights," Herlitz added. "The Howard Hughes Corporation already has significant property rights beyond The Outlet Collection at Riverwalk on both the upriver and downriver sides of 2 Canal Street site. HHC and the 2 Canal Redevelopment, LLC team intend to collaborate with the City, Hilton and others to create a final vision that aligns the interests of all key stakeholders. We firmly believe that the New Orleans riverfront, including the World Trade Center building, is one of the best redevelopment sites in New Orleans. [T]he 2 Canal Redevelopment, LLC proposal demonstrates exciting potential for the Tricentennial celebration areas that surround the site."
 

Howard Hughes is a Dallas-based publicly traded major national real estate company, with a market value of nearly $6 billion. They have owned the Riverwalk for nearly 30 years and recently invested $80 million to transform that property into The Outlet Collection at Riverwalk, which is currently 99 percent leased. Most importantly, the Riverwalk controls the long-term rights to the Spanish Plaza, which is situated at the river at the end of Canal Street and Poydras, adjacent to the Aquarium downriver, and the Hilton Riverside upriver. The Riverwalk also controls a series of primary servitudes or property restrictions around their site, including a number of rights that surround the World Trade Center building site.

"A re-imagination of Spanish Plaza and a thoughtful approach to the accessibility and connectivity of the riverfront and the rest of the city via Canal and Poydras Streets are important aspects to the design and planning of the overall project," said Herlitz. "Spanish Plaza is uniquely positioned to serve as the cultural heart of the redevelopment and play a key role in the upcoming Tricentennial celebration serving as a gathering place for visitors as well as for those who call New Orleans home. Of particular importance is achieving the long held civic aspiration to open the visibility of the river and Spanish Plaza at Canal St., and to enhance flow of pedestrian traffic from Canal St. to the Spanish Plaza and to the river's edge."

"Howard Hughes joining the 2 Canal Redevelopment team secures the long-held community planning aspiration to reimage the foot of Canal Street, open this critical vista to the River, and connect pedestrian traffic flow from Canal Street to Spanish Plaza directly to the river's edge. Along with my late partner Allen Eskew, we, together with the Aquarium and many other planners, have advocated for this for over 30 years," said Ray Manning of Manning Architects, co-principal architect for this project with Steve Dumez of Eskew, Dumez, Ripple.

"For the City and our riverfront, this would literally be a dream come true," said Roger Ogden, a principal of 2 Canal Redevelopment and chairman of the Riverfront 2000 Commission that oversaw the building of the Aquarium and Woldenberg Park. "For nearly three decades the dream of every New Orleans planner has been to open the visibility and pedestrian passageway to the river at Canal Street. Moreover, this works hand-in-hand with a second riverfront dream, which is to connect the Aquarium and Woldenberg Park directly with the Spanish Plaza. Our partnership with Howard Hughes further aligns the stars to make all this happen, and get it done in time for the Tricentennial."

According to Dr. Norman Francis, "The key to redeveloping the World Trade Center site and opening the door to new growth along the central Riverfront to the Convention Center is the shared vision of all parties, in particular the property owners themselves and the city. We have that here. This is a transformative vision for one of the most visible parts of New Orleans. It is realistic and within our reach now. This is a project that New Orleanians will build and that all New Orleanians will share."

2 Canal Redevelopment LLC presented one of five proposals for the World Trade Center property to a selection committee chosen by Mayor Mitch Landrieu. A decision is expected before the end of March.