New Orleans, LA – The Plaza Tower is a 531-foot skyscraper, onced full of offices and residential units, has been vacant since 2002 due to toxic mold and asbestos problems located in Central Business District neighborhood of New Orleans, LA.
This year Joe Yager, a successful real estate developer in New Orleans, purchased the Plaza Tower.
1964 – construction began.
1966 – construction halted.
1984 – remaining residential apartments were made into offices.
2001 – tenants start lawsuit due to exposure to toxic mold and asbestos due to lack of proper maintenance.
2002 – building evacuated.
2002 – unused since.
2005 – purchased by Giannasca Development Group LLC for $4 million and defaulted on loan after damage from Hurricane Katrina.
2007 – purchased by Plainfield Asset Management for $583,000 at auction.
2009 – mold remediation work began to rid building of toxic mold and asbestos at a cost of around $11 million.
2015 – Joe Yager, a New Orleans real estate developer purchases Plaza Tower.
Area 485,000 sq ft (45,058 m2)
Height 530 (162)
Ranks 3rd Tallest
1001-1027 Howard Ave, New Orleans, LA