New Orleans' Plaza Tower Saga
A look at the physical and economic implications of the proposed demolition of New Orleans' third tallest building.
The New Orleans skyline is poised for some major changes.
On Wednesday, December 11 the City Council officially set demolition plans for the city’s third largest building into motion. The members approved the allocation of $2.7 million in funding for an abatement of the Plaza Tower, located at 1001 Howard Avenue. The price tag being floated for the complete, two-part demolition is in the $28 million range.
If everything goes to plan, one of the state’s and New Orleans’ weirdest real estate sagas will be coming to an end. And that resolution will have major impacts on the state’s skyscraper landscape as well as development plans for the Crescent City’s Central Business District.
Note: I’ve got no intentions of ever making a full conversion over to metric system. But maybe some of y’all will appreciate having the height measurements for these buildings in both metric and standard (imperial).
Top 15 Tallest Buildings
As of December 2024, thirteen of the fifteen tallest buildings in Louisiana are located within New Orleans’ city limits. The other two that round out the Top 15 are located in neighboring Metairie and the capitol city, Baton Rouge.
New Orleans accounts for 6,331 (1,926 meters) of the collective 7,194 (2,189 meters) height for the statewide group of buildings.
From a zip code perspective, the buildings are even more concentrated. Seven of the tallest buildings are in the 70130 zip code and three are in the 70112 zip code. 70130 is home to the second tallest building on the list. Place St. Charles is 645 feet (197 meters) tall. The 70139 zip code has only one of the Top 15 tallest buildings but that sole structure is the tallest in the state. Hancock Whitney Center is 697 feet (212 meters) tall.
The Plaza Tower is located in the 70113 zip code and is still somewhat standing at 531 feet (162 meters). It holds the title for the third tallest building but just barely edges out #4 on the list. Energy Centre sits over in the 70163 zip code and is 530 feet (160 meters) tall.
Of New Orleans’ current tallest buildings, the Plaza Tower is the second oldest. It’s preceded by 2 Canal Street (407 feet, 124 meters) which was completed two years prior to the Plaza Tower in 1967. Construction wrapped at 4001 Howard in 1969. 1972 marked the completion of the current leader, Hancock Whitney Center. 1984 was also busy year for skyscraper construction in the city, with three of the tallest (Place St. Charles, Energy Centre, JW Marriott Hotel) reporting completion.
For three years, the soon to be departed Plaza Tower was the tallest building in Louisiana. That reign stretched between 1969 and 1972, when the Hancock Whitney Center was finished at 701 Poydras St. That building has held the title for 52 years and counting.
Before the New Orleans skyline took its real form the Capitol in Baton Rouge was the state’s tallest building.
A Little Extra
The Development Context
There are currently two major parcels located at the Plaza Tower site. Both are owned by Alexandra Land & Development, LLC. The parcel that the main tower structure sits on is reported to have a land area of 43,822 square feet and a building area of 571,873 square feet. The Orleans Parish Tax Assessor’s records assign 6,425 square feet of land area and 1,938 square feet of building area to the secondary parcel.
The tower structure’s proposed demolition will be a massive undertaking when you view it from a square footage but the tax perspective provides a very different look.
The total market value for the Plaza Tower’s main parcel was $2,810,800 in 2024, compared with $474,500 for the secondary parcel.
For both parcels, the value of the land is significantly higher than the improvement value. The structure on the secondary structure is valued on the market at $69,7000 while the land is valued at $404,800. The difference is much more stark for the primary parcel. The tower’s market value is only $50,000. For reference, the last big sale took place in November 2005 and it went for $20,000,000. The land that the Plaza Tower sits on has a current market value of approximately $2.8 million.
Translated, the Plaza Tower building is only worth $0.09 per square foot.
As far as total, Orleans Parish tax liability the entire site is only worth $334,520.
There are still a lot of hurdles to cross before the city of New Orleans can really start to close the chapter on this historical but troubled building and start to chart a path forward for not only the physical space but also the area’s economic future.