USA – LOUISIANA Law and Practice Contributed by: Jeffrey P. Good, Susan M. Tyler and B. Trevor Wilson, Jones Walker LLP
1. General 1.1 Main Sources of Law
dren’s Museum in the warehouse district. The New Orleans Ernest N Morial Convention Cent - er’s ambitious improvement plan continues, including the ground breaking of the adjacent river district mixed-use development. Alternative financing sources, including private equity and opportunity zone funds, have gained prominence as traditional lending has tightened. 1.3 Proposals for Reform The most significant legislative reform affect - ing the real estate market pertains to property insurance. The reforms aim to attract more insur - ance carriers to Louisiana’s market, addressing the crisis precipitated by the withdrawal of major insurers following recent hurricane seasons. In the renewable energy sector, significant policy shifts continue to occur. Louisiana established the Louisiana Department of Energy and Natural Resources (LDENR), which consolidates ener - gy and natural resources functions to improve efficiency, streamline regulatory processes for clean and traditional energy, and enforces envi - ronmental standards. As of printing, the state legislature is contemplating additional regula - tions on solar farms and carbon sequestration, both large growth industries in Louisiana over the past few years. Additionally, several parishes have proposed or implemented zoning reforms to encourage tran - sit-oriented development and affordable hous - ing, with the New Orleans City Council consider - ing expanded inclusionary zoning requirements beyond the current mandatory requirements in certain neighbourhoods.
The main source of real estate law in Louisiana is derived from French civil law, specifically the Napoleonic Code. As a civil law jurisdiction, Lou - isiana law focuses closely on the Louisiana Civil Code, the Louisiana Revised Statutes and the Louisiana Code of Civil Procedure. Of course, jurisprudence remains an important source of law as well. 1.2 Main Market Trends and Deals Development of infrastructure projects contin - ues to be strong in Louisiana, with growth in both petrochemical industry expansion and sus - tainable energy projects, particularly solar facili - ties and carbon capture developments along the industrial corridor between Baton Rouge and New Orleans. The hospitality industry in New Orleans contin - ues to strengthen and diversify, with significant investment in mixed-use developments through - out the New Orleans central business district, warehouse district and surrounding areas. The Charity Hospital redevelopment represents a USD600 million investment by the developer and Tulane University to transform the historic structure into a biomedical innovation hub. The Four Seasons Hotel and Residences, a landmark conversion of the former World Trade Center building, opened after an approximately USD550 million renovation. Hyatt Hotels has expanded its presence in New Orleans with Maison Métier and The Barnett, two historic properties that joined Hyatt’s independent collection of brands as part of the company’s continued push in the luxury lifestyle segment. The Memoir Warehouse hotel, together with Common House, a modern social club, opened in June 2024 at 420 Julia Street, revitalising the former Louisiana Chil -
1193 CHAMBERS.COM
Powered by FlippingBook