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Friday, 08 July 2011 13:03
New Orleans Real Estate Developer Kailas Talks Historical Tax Credits, Woolworth
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Woolworth BuildingHow important is the Historical Rehabilitation Tax Credit signed by Louisiana Governor Bobby Jindal on Thursday at the famous and soon to be totally renovated Saengar theater?

 

According to Praveen Kailas, new construction projects downtown and in the French Quarter would “never have a chance to take off without the historic tax credit”.

 

 In fact, the young New Orleans real estate developer is planning to build a major development at the vacant Woolworth's store at 1031 Canal Street on the corner of North Rampart. According to Kailas, the building would have 40,000 square feet of retail space, 300 market-rate apartments in the new and developing New Orleans theater district.

 

The project would sit on the corner of the “theater district” involving the Joy, the State Palace and the Saenger Theaters.

 

Watch the short interview of Kailas where he discusses this and other projects of which he is involved.

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