Audubon's $30M riverfront park and other new projects
Audubon Nature Institute is tearing down the Gov. Nicholls wharf at the edge of the French Quarter to make way for a new $30 million public space along the Mississippi River.
Why it matters: The project will create the country's longest contiguous riverfront park, leaders say.
The big picture: Audubon leaders hoped to have the park open for Super Bowl LIX, but the project was delayed.
Now, the first phase should open by the end of the year with a band shell and public green spaces, says Michael Sawaya, the new CEO and president of Audubon Nature Institute.
Once done, the project will create a 2.25-mile walkable and bike-friendly park from Spanish Plaza to Crescent Park.
By the numbers: The city is footing half of the bill, with the City Council committing $15 million last year.
The rest of the money is coming from Audubon, the Ernest N. Morial Convention Center and New Orleans & Co., Sawaya says.
Catch up quick: The park started during a riverfront development push in 2017, when then-Mayor Mitch Landrieu and others outlined $500 million in projects.
Those developments included the now-completed renovation of the World Trade Center into the Four Seasons and the new Canal Street ferry terminal.
Audubon's early riverfront ideas included a Ferris wheel and amphitheater, which drew criticism from residents, according to The Times-Picayune.
The project has almost doubled in cost since planning started, Sawaya says.
Zoom in: Current plans call for it to have open-air structures, a community center, event rental options, a playground, grassy lawns and space for food trucks.
The Gov. Nicholls wharf should be torn down in several weeks.
The Esplanade wharf is expected to be partly demolished, but Audubon leaders tell us they are still fine-tuning the concept.
See the latest proposal.
Between the lines: Riverfront parks in Brooklyn, Tampa and Boston have been inspirations for the New Orleans development.
More Audubon projects
Audubon is also working on a few other projects.
Woldenberg Park: The renovations outside the aquarium are expected to wrap up by the end of May, says Jackson Kerby, Audubon's vice president of construction.
The new hardscaping, lighting and utility improvements are geared at making it more attractive for special events.
Carousel: Audubon lowered the price of its animal carousel after it failed to sell at auction.
The zoo is replacing it with a smaller version. Go deeper.
New dinosaur exhibit: Work is starting on the Odenheimer rotunda to house a new dinosaur experience, Kerby says.
It will showcase the connection with dinosaurs, reptiles and birds.
It's the oldest building on the zoo property and was originally Audubon's aquarium. It's next to the reptile house.
Construction is expected to begin next year, she says.
Giraffe feedings: The zoo recently started allowing guests to pay $5 to hand-feed the new giraffes, Maverick and Fennessy.
Go deeper
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
FOXA Q1 Earnings Call: Digital Investments, Super Bowl, and Direct-to-Consumer Strategy Highlight Quarter
Cable news and media network Fox (NASDAQ:FOXA) missed Wall Street's revenue expectations in Q1 CY2025, but sales rose 26.8% year on year to $4.37 billion. Its non-GAAP EPS of $1.10 per share was 22.6% above analysts' consensus estimates. Is now the time to buy FOXA? Find out in our full research report (it's free). Revenue: $4.37 billion (26.8% year-on-year growth) Adjusted EPS: $1.10 vs analyst estimates of $0.90 (22.6% beat) Adjusted Operating Income: $761 million vs analyst estimates of $639.7 million (17.4% margin, 19% beat) Operating Margin: 17.4%, down from 22.9% in the same quarter last year Market Capitalization: $23.78 billion Fox's first quarter performance was shaped by the high-profile broadcast of Super Bowl LIX, which CEO Lachlan Murdoch described as generating over $800 million in gross advertising revenue and becoming the most-watched telecast in U.S. history. Management credited strong advertising demand, especially from a surge in new brand advertisers at Fox News and rapidly rising digital engagement, for driving revenue. Tubi, Fox's free ad-supported streaming service, delivered a 35% year-over-year revenue increase and continued to see growth in total viewing time, supported by its appeal to a younger and increasingly mainstream audience. Affiliate revenues also grew, as higher rates and moderating subscriber declines contributed to segment growth. Executives highlighted that these results translated into record free cash flow for the company. Looking ahead, Fox's management emphasized the upcoming launch of Fox One, its direct-to-consumer streaming platform, targeting households without traditional cable subscriptions. Lachlan Murdoch stated that Fox One will be priced in line with wholesale rates and is expected to debut before the football season, with distribution partnerships in development. Management also pointed to continued momentum at Tubi and Fox News as key growth drivers, while balancing ongoing digital investments and controlling costs, especially as political advertising and marquee sports events fluctuate year-to-year. CFO Steve Tomsic noted that the company will remain disciplined in capital allocation, weighing further investment in digital platforms against other shareholder returns. The company sees opportunities to expand its digital reach while maintaining support for traditional distribution models. Management attributed the quarter's performance to major live events, digital growth, and a focused content strategy, while highlighting execution on both traditional and streaming platforms. Super Bowl Advertising Impact: The broadcast of Super Bowl LIX delivered significant advertising revenue and set a new U.S. television viewership record, benefiting both national and local TV stations. This event also served as a promotional lever for other Fox properties, including Tubi. Tubi's Audience and Revenue Growth: Tubi's revenue grew 35% year-over-year, aided by a notable increase in total viewing time and a successful Super Bowl cross-promotion. Management highlighted that Tubi's audience skews younger and more diverse, with 65% classified as 'cord nevers'—viewers who have never subscribed to traditional pay TV. Fox News Advertiser Expansion: Fox News continued to grow its advertiser base, with over 200 new brands joining since the election. Management described this as a durable trend rather than a temporary shift, with both direct response and brand advertising rates increasing substantially. Affiliate Revenue Stability: Affiliate fee revenues increased as higher negotiated rates offset the impact of ongoing, but decelerating, subscriber declines. Management referenced improvements in subscriber erosion each quarter, attributing this trend partially to the emergence of 'skinny bundles'—streaming packages with fewer channels. Digital Engagement and Investment: Digital consumption at Fox News and Tubi broke new records, with Fox News Digital growing page views 18%. Management reiterated their commitment to continued digital investment, especially in Tubi and the soon-to-launch Fox One, to reach new viewers and advertisers across platforms. Fox expects continued digital momentum, expanding direct-to-consumer offerings, and advertiser demand to shape revenue and margin trends in upcoming quarters. Direct-to-Consumer Launch: The introduction of Fox One aims to capture the growing cordless market, with management focusing on pricing discipline and partnerships to avoid cannibalizing existing cable subscriptions. This strategy is expected to broaden Fox's digital reach while supporting traditional affiliate relationships. Tubi's Profitability Path: Management plans ongoing investment in Tubi, citing its strong user engagement and advertising appeal. While profitability is a goal, executives indicated that further investment will be paced to maximize long-term value as Tubi approaches scale. Shifting Content Costs and Cyclical Events: Management noted that shifts in the sports calendar, such as the absence of Super Bowl costs and changing political advertising cycles, will impact margin trends. Adjustments to digital investment, particularly between Tubi and Fox One, are expected to be key margin drivers in the next year. In the coming quarters, the StockStory team will watch (1) the launch and early adoption of Fox One and its impact on subscriber and advertiser growth, (2) Tubi's ability to sustain user engagement and move toward profitability as investment moderates, and (3) the extent to which Fox News can maintain its enlarged advertiser base and ratings momentum. The evolution of affiliate fee trends and further digital monetization initiatives will also be pivotal. FOX currently trades at a forward P/E ratio of 13.9×. In the wake of earnings, is it a buy or sell? The answer lies in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today.
Forbes
5 hours ago
- Forbes
Super Bowl LIX Generated $1.25 Billion For Louisiana
The third time in a row might not have been a charm for the back-to-back Super Bowl champion Kansas City Chiefs, but the 11th time provided a financial windfall for New Orleans. Super Bowl LIX — the 11th Super Bowl hosted in the Big Easy — brought in $1.25 billion to Louisiana's economy. 'It was an incredible impact,' Jay Cicero, the president/CEO of the Greater New Orleans Sports Foundation and the New Orleans Super Bowl Host Committee, exclusively shared. That economic impact was greater than the Super Bowl LVIII, the Super Bowl played the year before. And it was more than double the previous Super Bowl in New Orleans. That Super Bowl XLVII week, leading up to and including the game between the Baltimore Ravens and San Francisco 49ers on Feb. 3, 2013, created an economic impact of $480 million. Though slightly less than the $1.3 billion economic activity generated from Super Bowl LVII in Arizona — which also featured the same Philadelphia Eagles-Chiefs matchup — Super Bowl LIX in New Orleans impressively outpaced the $1 billion worth of spending in Las Vegas from Super Bowl LVIII. Although last year's game represented the first Super Bowl for Las Vegas, Super Bowl LIX enabled New Orleans to tie Miami as the city that has held the big game the most times. More than the increase in foot traffic, Kennedy Smith, vice president of marketing for Caesars New Orleans Hotel and Casino, noticed the uptick in spending. The people, who travel in for a Super Bowl, are typically high-rollers, and those in the casino spent 90% of their time at table games rather than cheaper slot machines. 'This was a lot more quality over quantity,' Smith said. 'The average play per customer — that's where we saw the huge spike.' Smith's observations follow the data collected from the LSU Center for Economics, Business and Policy Research; New Orleans Super Bowl Host Committee; NFL and sponsors. Las Vegas had more visitors last year. (More than 260,000 visitors descended on the Nevada city just for the week's experience and did not even go to the game.) But the New Orleans visitors spent more per capita. Gross visitor spending in Las Vegas for Super Bowl LVIII surpassed $877 million, and visitors in town for the Super Bowl spent an average of $2,660. New Orleans welcomed approximately 100,000 visitors, and their average duration of stay was 3.5 nights. The visitors, who attended Super Bowl LIX, spent an average of $5,553, generating a total of $351.6 million, and those, who came to Louisiana for the Super Bowl but did not attend the game, spent an average of $4,246, resulting in $148.6 million. To accommodate that influx of business, Caesars New Orleans added hundreds of temporary staff, housing them in Biloxi, Miss. and bussing them in each day. That's just one example of the 9,787 jobs created by Super Bowl LIX. Including the Caesars New Orleans, the Crescent City has 26,000 downtown hotel rooms in a two-mile triangle between the sports district (anchored by the Caesars Superdome), the business district (America's sixth largest convention center) and leisure district (the French Quarter). Unlike sprawling locations of many of the previous Super Bowls in Phoenix, Los Angeles, Miami and next year's game in the Bay Area, New Orleans had the advantage of being more centralized. 'We're a very compact city,' said Walt Leger, president and CEO of New Orleans & Company (formerly known as the New Orleans Convention and Visitor's Bureau.) Having adopted the 'Built to Host' mantra, New Orleans has been the home for Final Fours, college football national championships, NBA All-Star Games and, of course, Mardi Gras, an annual, two-week celebration. 'We're used to these big events,' Cicero said. Cicero said the main difference he noticed between Super Bowl LIX and New Orleans' previous Super Bowl was the number of special and corporate events, including Super Bowl LIX Opening Night at Caesars Superdome, the interactive Super Bowl Experience at Ernest N. Morial Convention Center, the Taste of the NFL at The National WWII Museum and the Mardi Gras-like Super Bowl Parade from the Esplanade Avenue and Decatur Street to St. Charles Avenue in the Warehouse District. That kind of vendor spending from the host committee, media and sponsors of Super Bowl LIX resulted in an additional $180.3 million. Super Bowl LIX also generated $82.7 million in taxes. That economic boon is why New Orleans welcomes the opportunity to host Super Bowls. And for the NFL, New Orleans is also an obvious setting for several reasons. In addition to having a continuous NFL team (unlike Los Angeles or Phoenix) in the city since 1967, it has tourist attractions, warm weather and a dome. But any indication of a 12th Super Bowl being played in New Orleans is very preliminary at this point. Cicero and his sports foundation, though, are encouraged. 'The response from the NFL was very positive,' Cicero said. 'Whenever you successfully host, it gives you confidence that you'll get it back sooner rather than later.'
Axios
5 hours ago
- Axios
Austin apartment permits have plummeted since the pandemic
Permits for multifamily housing have dropped below pandemic -era levels across the country, according to Redfin, with Austin seeing among the most dramatic fall-offs. Why it matters: Apartment construction influences housing affordability in Austin, where a wave of new apartments ultimately helped curb rent hikes. The construction slowdown, which tariffs could prolong, risks reigniting rent inflation. The big picture: The rise of remote work during the pandemic allowed Americans to relocate to Austin and other cities, leading to a surge in rental demand. Builders ramped up construction in response — but now, rents are flattening and borrowing costs are high, making building less attractive. By the numbers: Developers got permits to build an average of 64.5 multifamily units per 10,000 people in greater Austin from April 2024 to March 2025, according to Redfin's analysis of Census Bureau data. That's down from the nearly 95 multifamily units per 10,000 people during the pandemic surge. Reality check: Austin is still issuing more multifamily permits — buildings with five or more units — than any other metro Redfin analyzed. The local rate of multifamily building permits granted outstrips the national rate of 12.4 multifamily units per 10,000 people in recent months. State of play: The median asking rent in Austin dropped 10.7% year over year to $1,420 in March — $379 below its record high. That was the largest decline in percentage among the 44 major U.S. metropolitan areas Redfin analyzed this spring. Zoom out: 63% of major metros are seeing fewer units approved per 10,000 people compared to the pandemic era. What they're saying: Builders nationwide are "pumping the brakes because elevated interest rates are making many projects prohibitively expensive," Redfin senior economist Sheharyar Bokhari wrote in the report. What's next: Mayor Kirk Watson is offering a resolution at Thursday's City Council meeting ordering city officials to re-examine incentive programs that allow developers to build taller buildings in exchange for affordable housing.
