Nashville Sake Bar Coming to New Orleans

Algiers Point is a great area in New Orleans, and it has been chosen as the landing spot of a new sake bar. Rice Vice in Nashville is the original bar that was established by a Nashville sake brewery.

The New Orleans Rice Vice will be located at 143 Delaronde St. The bar is now under construction in what used to be a barbershop. It will be a small venture with 20 seats in about 400 square feet. The bar is located next to the Nighthawk Naploletana a new pizza restaurant. Early 2024 is the time frame for the bar’s opening.

“The whole point is to lower the barrier for people who want to explore this,” said Rice Vice founder Bryon Stithem. “It can be as deep learning experience as you want to make it.”

“There was a time when I was working in New York, and had access to all this great sake,” Stithem said. “When I came back to the South, the only way I could get access to the something like that again was to make my own.”

Stithem started his own sake brewery called Proper Sake Co. in Nashville. To showcase his product, Rice Vice opened its doors. The sake bar has been recognized as one of the best bars in the country by Esquire Magazine.

His love for New Orleans brought him here to start another sake bar and its perfect spot was the location in Algiers Point. His partner in the project, Bryson Aust, lives in Algiers Point and is partner also to the new pizzeria.

“Italian food and sake are great together, it’s umami on umami,” Stithem said.

“I started out as someone with an American understanding of sake, that there was hot and cold, filtered and unfiltered, and that was it,” said Aust. “But it really does run as deep as wine.”

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LNG’s Plaquemines Site Phase Two Approved

The decision to proceed with the second phase of the Plaquemines LNG export plant comes after the parent company, Venture Global LNG, now has $7.8 billion for the project. This is part of the $21 billion funding for the Plaquemines project.

The Plaquemines project is located on the Gulf of Mexico off the coast of Louisiana. The actual building will be built on the west bank of the Mississippi River. The project also includes the Gator Express pipeline. This is a two-pipeline project that is connected to the existing natural gas pipeline that delivers natural gas to the site.

The facility will house a liquefaction plant with 18 integrated single-mixed refrigerant (SMR) blocks, four 200,000m³ LNG storage tanks, three LNG loading docks, and air-cooled power generation facilities. It will comprise six pre-treatment facilities, with three in each phase.  Again this project will also be built in two phases. Each phase will take up nine blocks that will include liquefaction units and support facilities.

The plan is to open phase one in 2024 and phase two in 2025. The total project will create 250 new direct jobs, 728 indirect jobs and 2,200 construction jobs (during the project’s building). Phase two customers will include Exxon Mobil (XOM.N), Chevron (CVX.N), EnBW Energie Baden Wuerttemberg (EBKG.DE), New Fortress Energy (NFE.O), PETRONAS, China Gas Holdings (0384.HK) and Excelerate Energy (EE.N).

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Shell Corporation Moving to the River District

Shell’s corporate, along with the 800 employees, will be moving to the River District. The headquarters is currently located on Poydras Street. The project should be completed by late 2024 or early 2025.

Employees are overjoyed with the decision due to the fact that many energy companies have been moving to Texas. “This is an exciting announcement that further solidifies the long-standing and successful relationship between Louisiana and Shell. This is a significant investment in the city and our state, and I’m grateful to everyone involved in turning this concept into reality,” said Governor John Bel Edwards.

“We have been an integral part of the community and the working coast….and we are committing to stay here with a new building,” said Colette Hirstius, Senior VP of Shell’s Gulf of Mexico location.

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Jefferson Parish West Bank Might Get A New Movie Production Studio

The old Celotex building in Marrero might have a new purpose in Jefferson Parish. There are talks that the old eye sore will be revitalized into a movie production studio. The building on Fourth Street has been purchased by Maple Marrero LLC.

The site includes 67 acres with around 400,000 square feet of warehouse space. “We could have one of the biggest movie studios in Louisiana and still have over 200,000 square feet of vacant warehouse space, said partner Andrew Duncan.

Celotex’s Marrero plant opened its doors in the 1920’s and employed over 1,000 workers. The plant remained open until it was damaged by Hurricane Katrina and closed its doors in 2009.

Coincidentally the property has been a set for several films and television projects throughout the years. The Hollywood writers and actors strike has set the plans back.
“As soon as the film and TV industry activates again, the place will become active as a filming location. We can start that in 30 seconds,” replies Duncan.

For the next couple of months, the new owners are going to spruce the landscape on the site. “Like many industrial sites along the river, the Celotex site has fallen into disrepair and been underutilized for a number of years,” Duncan said.

“I’m hopeful that in the next couple of years, that eyesore will no longer be an eyesore and instead will be something that contributes to the economy of Jefferson Parish, ” said Jerry Bologna of JEDCO.

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Algiers Shopping Center Purchased by California Investor

Village Aurora Shopping Center opened its doors in the 80’s to its 250,000-square-foot center. Around ten years ago, the shopping complex was renovated and expanded. The shopping center has been purchased by a Los Angeles-based investor, Moisce Belinow. The purchase price set the California investor back $35 million. Belinow believes that the local property is a good investment with upside potential. The current shopping center houses a Winn-Dixie and a Chick-fil-A.

“Our occupancy is 98%, which is attractive. New Orleans doesn’t have a lot of vacancy for high-quality centers, which gives me a lot of comfort about investing in a high-quality property like this,” says Belinow.

The roof needs attention now and the outside needs a facelift. Belinow will sink $1 million into the immediate improvements. The Winn-Dixie will also make some upgrades to its supermarket located in the shopping plaza. Future plans for the shopping center will include a new retail building.

“We focus on adding values to our properties which means renovating, new construction, adding extra pads,” explains Belinow.

“These guys are used to much higher prices on the West Coast, and this is a deal for someone who is willing to take the risk into a tertiary market. There’s a much better return on your investment than you would get for the same asset in Dallas or Houston or Atlanta,” says Steve Reising with SRSA Commercial Real Estate.

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