The Jung Hotel redevelopment project sets the stage for a transformative endeavor in New Orleans. This visionary mixed-use development aims to revitalize the existing 17-story property into a vibrant destination. The Jung Hotel project, led by MCC, seeks to make a significant contribution to the local community and economy, turning it into a premier mixed-use development in the heart of New Orleans, Louisiana.

Located at 1500 Canal Street, The Jung Hotel project will be a distinctive mixed-use development encompassing a private-label hotel with 145 keys, 175 rental apartments, and 42,880 square feet of retail space. With a total building area of 401,490 square feet, the project will feature a seven-floor parking garage with 484 units. Strategically situated in the BioDistrict, a master-planned district focused on medical-related uses, The Jung Hotel project aligns with the vision of developing 13 million square feet of space over the next 20 years. Within the initial five years, approximately 6.7 million square feet of development is planned, expected to generate an estimated 7,000 net new jobs.

The prime location of The Jung Hotel project offers convenient access to Interstate 10, the renowned French Quarter, and the Morial Convention Center, the fifth-largest convention center in the United States. As one of the key projects within the BioDistrict, this development reinforces the commitment to economic growth and innovation within the region. The state of Louisiana established the 1,500-acre BioDistrict in 2005, with a total development value of approximately $3.3 billion and a projected creation of 22,000 jobs for the city of New Orleans in the next eight to ten years.

With a total investment of 133.8 million USD, The Jung Hotel project is supported by various stakeholders. The developer has invested 35 million USD, while HGC, alongside other limited partners, has contributed 63 million USD. Additionally, tax subsidies of $35 million have been secured to further enhance the project's success.

MCC, a respected real estate development company with over 16 years of experience, will spearhead the development of The Jung Hotel project. Based in the New Orleans metropolitan area, MCC Real Estate LLC has a proven track record in pre-development, construction, engineering design, general contracting, mechanical/electrical/plumbing subcontracting, and property management. With a portfolio of two million square feet of real estate, including over 2,000 hotel rooms in the New Orleans area, MCC brings unparalleled expertise to ensure the successful realization of The Jung Hotel project.

As a strategic partner, HGC remains committed to delivering exceptional and sustainable developments that enrich communities and foster economic growth. The partnership with MCC for The Jung Hotel project exemplifies this commitment and signifies a significant milestone in HGC's continued mission to shape transformative urban landscapes.