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New Orleans Redevelopment Fund purchases Lafitte Greenway property for $1.5 million

The group hasn't announced specific plans for the property yet

A 20,000 square-foot industrial building in Mid-City formerly owned by the Times-Picayune (also in the news this week) now belongs to the New Orleans Redevelopment Fund, who recently purchased the property for $1.5 million.

According to a press release from NORF, the purchase of the building at 2740 St. Louis St. along the Lafitte Greenway includes an additional 19,000 square feet of vacant land adjacent to the property and approximately 6,000 square feet of parking.

NORF, which last spring launched a second fund to redevelop properties in Mid-City, is working with Albert Architecture on the design, but has not announced specific plans for the property yet:

"NORF is considering multiple options for repurposing the building in order to take advantage of the growing business sector in New Orleans and the overall growth of Mid-City as a viable place for young professionals to live and work."