Development of a build-to-suit Family Dollar along St. Claude Avenue

An entire block measuring 1.43 acres, with 262 feet of frontage along St. Claude Avenue, was recently acquired by a Mississippi real estate investor for development of a build-to-suit Family Dollar. At the time of the sale the 9th Ward site was improved with an 18,484 square foot retail structure that had been vacant since Hurricane Katrina. The dilapidated structure was anchored by Family Dollar prior to the storm but never re-opened. The purchaser, Mr. Corey Smith, confirmed that the acquisition was effectively a land deal due to the condition of the existing center. Upon the July 28 acquisition the improvements were demolished and construction on the new store commenced. Mr. Smith confirmed that the newly developed Family Dollar is expected to open in January 2016. The photograph shows progress on the new store as of early November.