Market Street Power Plant
The Market Street Power Plant, a historic early 20th-century facility in New Orleans, Louisiana, stands alongside the majestic Mississippi River, just upriver of the Crescent City Connection and the Ernest N. Morial Convention Center. This remarkable plant, which dates back to its construction in 1905, played a vital role in powering the city until its last production of power in 1973 under the ownership of New Orleans Public Service, Inc.
In the early months of 2007, Entergy New Orleans made the decision to sell the plant and its surrounding property to Market Street Properties LLC for a noteworthy $10 million.
Fast forward to September 2015, the plant underwent a significant transition when it was acquired by developer Joe Jaeger through foreclosure proceedings. The initial plans to transform the area into a vibrant residential, retail, and entertainment center did not come to fruition. Currently, there are no immediate development plans in place, as Mr. Jaeger has shifted his focus toward the development of the nearby Trade District, which spans 47 acres between the power plant and the Convention Center.
Mr. Jaeger envisions a future where the Power Plant development seamlessly merges with the Trade District project, although the precise scope and definitive start/finish dates for both initiatives remain uncertain at this time.