$716M Jazz Park Will Anchor Reconstruction

NEW ORLEANS-The Hyatt Regency New Orleans and the Superdome, both seriously damaged by last year’s Hurricane Katrina, will have a second life as an important part of a $716-million, six-block development anchored by the National Jazz Center. The first stage of the reconstruction will begin almost immediately.

The 20-acre Hyatt Jazz District will include an outdoor auditorium, new city government buildings and reconstruction of the hotel and Superdome. The development, expected to generate 6,500 permanent jobs, is predicted to carry a $6-billion economic benefit over 20 years.

The first construction will focus on a complete overhaul of the Hyatt Regency New Orleans at 500 Poydras Plaza, which had its superstructure remain relatively intact while the interior sustained heavy storm damage. Part of the work calls for moving the hotel’s entrance from Poydras to Loyola Avenue. The Hyatt renovation is scheduled for completion in late 2007.