The Summit is now key to Greater New Orleans' recovery process. "We recognize the importance of this project as part of the reconstruction," Silverstein emphasizes. "We're humbled by the responsibility that comes with this development."

Silverstein says the hurricane effectively has accelerated the project due in part to the availability of $250 million of backing from GO Zone Bonds and Slidell's community development and economic development districts. City leaders also have agreed to build a major boulevard to connect Fremaux Avenue to Old Spanish Trail.

"It's truly a wonderful public-private partnership. The financial package is the critical element to get this project up and out of the ground," Silverstein says. "There is such a need now in that area. It should have a positive, positive impact on the community and region, which has been through so much."

Silverstein estimates about 80% of the site is developable land, parked right on the doorstep of a just-completed I-10 interchange. Crawford McWilliams & Hatcher Architects Inc. and Brice Building Co. Inc., both in Birmingham, are the Summit's architect and general contractor, respectively.

Silverstein says future phases will be market-driven, but the acreage provides enough working space to expand the university campus, increase the residential component, possibly adding single-family lots to the rental inventory, and building more office space, including medical facilities. "Our goal and objective right now is to deliver the first phase on time, on budget and do it well to set the character of the development," he stresses.

Silverstein points out that the economy has sidelined expansion decisions for many national retailers, but the Summit's construction schedule is its cushion as it its location. "We're all hopeful by 2010 that we'll be in a rebound by then," he says. "In this area and this region, there is an ongoing need that works to the favor of the project," he says.