Theater District gets a $2 million applause

Louisiana is getting into the theater business, so to speak. The state has approved $2 million for the purchase of a commercial building in the theater district of New Orleans, allowing the city’s Office of Recovery and Development Administration to access federal Community Development Block Grant funds. The Canal Street Development Corporation, a public benefit entity, will use the money to purchase and rehabilitate a four-story building at 1101 Canal Street. A portion of the building will be incorporated into the adjacent Saenger Theatre, with the remaining space leased out as retail and commercial offices designed to enhance the city’s planned theater district. The funding comes from the Long Term Community Recovery Program, a $700 million pool of federal disaster-recovery money set aside by the Louisiana Recovery Authority and Office of Community Development to help local governments rebuild and implement long-term recovery plans. “Using disaster recovery funds to purchase and rehabilitate a blighted structure next to the Saenger Theatre will boost the recovery of the district by providing commercial and retail space to attract economic and cultural investment in the area,” says LRA Executive Director Paul Rainwater. “This purchase provides additional value to the state-approved Saenger Theatre renewal project, which is being funded with $13 million in disaster recovery money.” A Popeye’s restaurant formerly occupied the building, which has been shuttered since Hurricane Katrina. When rehabilitated, the first floor will include the Saenger Theatre box office, space for theater amenities and a restaurant. The upper floors will be leased.