New Orleans, LA – The Domain Companies has secured financing for the $80 million Standard at South Market. The project commenced construction this month and will feature 89 one- to three-bedroom, for-sale condominiums and 24,000sf of retail space. The Standard will join The Paramount, The Park and The Beacon as the fourth addition to the South Market District development.
The Standard will propel the incredible momentum of the South Market District and Downtown New Orleans,” said Matt Schwartz, The Domain Companies Principal. “The Standard is the next step in Downtown’s progression, one that will build on the neighborhood’s excellence through world-class architecture, amenities and services unlike anything in New Orleans today. With the Standard, we are creating the finest residential building in New Orleans by any measure. We’re excited to offer an unparalleled ownership opportunity in the heart of Downtown.”
The building’s exterior and interiors have been designed by internationally-renowned architect Morris Adjmi, a New Orleans native and founder of New York City-based Morris Adjmi Architects. With The Standard, Adjmi has combined his passion for historic New Orleans architecture with a global perspective to create a spectacular addition to Downtown. Adjmi’s work takes inspiration from context and history to create some of the most original, well-received residential properties in the country, including The Sterling Mason and 11 North Moore in New York City.
I sought to capture the spirit of New Orleans without mimicking its past,” said Adjmi. “The industrial architecture and vibes of the Warehouse District inspired the design, but the building has its own rhythm. We worked to reimagine and reinterpret these elements into something entirely unique and modern.”
The Standard will feature a thoughtful exterior that mirrors its historic neighborhood, with an elegant, reflective metal façade and deeply-set windows to enhance the play of light and shadow across the building. The fifteen-story, cast-in-place concrete structure will feature 20-foot high retail storefronts wrapping its base, activating O’Keefe, Julia and Rampart with a variety of lively shops and restaurants.
The Standard’s refined, relaxed interiors will be cultivated through a unifying palette of warm cobblestone, bronze and wood. Taking cues from its location along Gallery Row on Julia Street, the lobby will double as an expansive art gallery featuring large-scale works by local, national and international artists. The heart of the building features nearly 30,000 square feet of outdoor space, including a pool deck with private cabanas, gardens, fountains and lush landscaping of Bermuda grasses, water lilies and jasmine. A pool house will create a flowing indoor/outdoor space, with showers, changing area, dining areas, and games. Outdoor kitchens with barbecue areas will be ideal for entertaining, and a pet play area will be available. The clubhouse and library will boast a chef’s kitchen, indoor/outdoor entertaining space and a media screening area, while the fitness center will offer state-of-art equipment in a large, naturally-lit space. A full-time concierge, secure storage and on-site parking will round-out the building amenities.
The Standard’s residences will offer floor-to ceiling windows, sweeping views, vaulted angles, clean lines and expert craftsmanship. Soaring ceilings and craft-milled, solid white oak flooring will be featured throughout. Kitchens will display custom, locally-sourced walnut cabinetry complemented by honed marble countertops, oil-rubbed bronze fixtures, and top-of-the-line appliances including a Sub-Zero refrigerator, Wolf ovens and an under-the-counter wine cooler. The master baths will feature a washed grey oak vanity, brushed marble countertops, Watermark fixtures and a 72” soaking tub. Two penthouses will occupy the fifteenth story, each offering spacious, thoughtfully-considered interiors and 2,000sf of outdoor living space.
Like current residents of The Paramount and The Beacon, The Standard’s residents will enjoy exclusive access to all that South Market has to offer, such as Enterprise CarShare, Zagster bike-share, priority and proximity to some of the city’s best dining, shopping, and entertainment destinations, and more. As with all of Domain’s properties, residents become members of the MyDomain program, which includes automated payments, online maintenance requests, exclusive neighborhood discounts and rewards, and more. Residents can also participate in Domain’s MyCommunity program, which supports local non-profits and coordinates volunteer opportunities throughout the year.
Pre-leasing for The Standard’s retail space has launched. The Standard will continue the South Market District’s retail success by targeting a mix of art galleries, service-based and traditional boutiques, and unique food and beverage offerings. Atlanta-based Terremark Partners is providing retail leasing and consulting services for South Market.
Woodward Design+Build is the general contractor for the project. Financing for The Standard includes a construction loan from Bank of the Ozarks and a mezzanine loan from iStar, both arranged by HFF. Equity capital for The Standard was provided by UrbanView Capital, The Domain Companies and Woodward Interests.
The Standard is scheduled for completion in spring 2018, with the sales gallery opening late September 2016. For more information about The Standard, visit www.standardnola.com.