In November 2006, a bulldozer knocked down a concrete warehouse on the site to clear way for the luxury condo development. Today, the Tracage site at the intersection of John Churchill Chase and Annunciation streets remains fenced off.
Tracage is not the first New Orleans project to be sidelined because of the national economy. In February, an attorney for developers of a proposed Poydras Street residential high-rise involving real estate mogul Donald Trump said the project is on hold until the economy improves.
According to the price list -- still on the Traçage Web site -- "cozy" 565 sq. ft. studios were "starting at $255,000." (A quarter of a mil for a 24x24" room? Oh, 2006, how far away and quaint you seem.)
Even at the real estate bubble-height of Luxurie Living and 24-Hour Concierge Service and Granite Countertops Uber Alles, New Orleans never struck me as an expensive-condo-in-the-sky kinda town. We like nice things, but we also like a bit of history and funk with our granite countertops. Warehouse lofts, sure. Glass boxes, not so much.
As Deon points out, Traçage is far from the only mega-condo development on hold right now. Do you think they'll be back when the recession is over, or will New Orleans prove permanently resistent to the notion of Luxurie Living?