NEW ORLEANS, LA (WVUE) - The venture capital firm founded by New Orleans entrepreneur Sidney Torres on Friday funded the sale of a 9-acre plot of land along Bayou St. John in Mid-City. With approximately 380,000 square feet adjacent to the Lafitte Greenway, the tract is one of the most expansive continuous pieces of land slated for development in the city.
The sale completed the largest transfer of Mid-City land in decades.
According to a news release, Torres and partners plans to develop the property into a high-end, mixed-use residential and commercial community.
The release says Torres envisions "a community with apartments and houses, kayaks and paddleboards along the bayou, fire pits on the bank, children's playgrounds as well as bike paths, a gymnasium, café and boutique hotel."
"We have already been contacted by an experienced builder about developing two 80,000-square-foot parcels into apartments and we encourage people to bring their best ideas to the table," Torres said in the release. "This is an entirely new approach to development. If you have a great idea, Bayou St. John is the opportunity you've been waiting for."