We’re excited to announce that The Domain Companies, South Market District’s developer, has secured financing for the $80M Standard at South Market and construction has commenced!
The project commenced construction this month and will feature 89 one- to three-bedroom, for-sale condominiums and 24,000sf of retail space. The Standard will join The Paramount, The Park and The Beacon as the fourth addition to the South Market District development.
The Standard will propel the incredible momentum of the South Market District and Downtown New Orleans. The Standard is the next step in Downtown’s progression, one that will build on the neighborhood’s excellence through world-class architecture, amenities and services unlike anything in New Orleans today. With the Standard, we are creating the finest residential building in New Orleans by any measure. We’re excited to offer an unparalleled ownership opportunity in the heart of Downtown.” — Matt Schwartz, The Domain Companies Principal.
The building’s exterior and interiors have been designed by internationally-renowned architect Morris Adjmi, a New Orleans native and founder of New York City-based Morris Adjmi Architects. With The Standard, Adjmi has combined his passion for historic New Orleans architecture with a global perspective to create a spectacular addition to Downtown. Adjmi’s work takes inspiration from context and history to create some of the most original, well-received residential properties in the country, including The Sterling Mason and 11 North Moore in New York City.
I sought to capture the spirit of New Orleans without mimicking its past. The industrial architecture and vibes of the Warehouse District inspired the design, but the building has its own rhythm. We worked to reimagine and reinterpret these elements into something entirely unique and modern.” — Morris Adjmi, The Standard Architect
Pre-leasing for The Standard’s retail space has launched. The Standard will continue the South Market District’s retail success by targeting a mix of art galleries, service-based and traditional boutiques, and unique food and beverage offerings. Atlanta-based Terremark Partners is providing retail leasing and consulting services for South Market.
Woodward Design+Build is the general contractor for the project. Financing for The Standard includes a construction loan from Bank of the Ozarks and a mezzanine loan from iStar, both arranged by HFF. Equity capital for The Standard was provided by UrbanView Capital, The Domain Companies, and Woodward Interests.
View the full press release to learn about The Standard’s architecture, design, residences and amenities. You can also visit Nola.com to read more coverage. The Standard is scheduled for completion in early 2018, with the sales office opening late September 2016. For more information visit www.standardnola.com.