The iconic L.E. Rabouin Memorial School, a centerpiece in the upcoming real estate auction in New Orleans.
On April 30, 2025, the Orleans Parish School Board will auction seven unique properties in New Orleans, including the iconic L.E. Rabouin Memorial School. The auction aims to address a $50 million budget shortfall while providing opportunities for redevelopment. Bidders can expect properties with rich histories and potential for new life within the community. This event marks a significant step in making use of vacant buildings that have remained unused since Hurricane Katrina.
If you’re in New Orleans, get ready, because there’s going to be a big auction happening on April 30, 2025! The Orleans Parish School Board has decided to put up seven intriguing properties for sale, and the excitement is palpable.
Among these properties is the renowned L.E. Rabouin Memorial School, located at 727 Carondelet St.. This iconic building, constructed back in 1937, boasts stunning art deco architecture that showcases the charm of a bygone era. With nearly 58,000 square feet of space, it features a beautiful courtyard and a spacious parking lot, making it a highly coveted piece of real estate.
Once upon a time, this historic site served as a vocational school before transitioning to the International High School of New Orleans up until last year when it moved to Gentilly. This property has been appraised at an impressive $6.5 million, and the minimum bid is set at $5 million. Talk about a prime opportunity for someone who dreams of transforming this treasure into something remarkable, like a hotel or trendy apartments!
But wait, there’s more! Another star of the auction is a quaint red-brick building located at 401 Nashville Avenue. This architectural wonder dates back to the early 1900s and has been appraised at $3.7 million. However, if you’re interested in bidding on this property, keep in mind that the minimum bid sits at $3.17 million, and it will require a zoning change for residential redevelopment. That’s right – potential buyers may have to jump through a few hoops!
With the auction estimated to potentially rake in up to $14 million from all properties, the School Board is keen on making the most out of this opportunity. The board is currently dealing with a $50 million budget shortfall, so the proceeds from this sale are crucial. However, don’t expect the funds to go directly towards fixing the budget issues. Instead, they’ll primarily support the building and facilities fund—helping tackle capital expenses.
Many of the auctioned properties have been sitting empty for years, with some being unused since Hurricane Katrina. It’s clear the School Board is taking action now because they hold around three dozen vacant or unused properties that no longer serve modern educational needs. School Board President Katie Baudouin has highlighted the necessity of divesting these surplus buildings.
Recently, an open house event generated plenty of buzz among potential buyers. One land-use attorney expressed excitement about the L.E. Rabouin Memorial School’s adaptive reuse potential, calling it a “greatest adaptive reuse opportunity,” and who could disagree? With classic art-deco details like terrazzo floors and inlaid chrome molding, this building is begging for a fresh start!
The upcoming auction presents an exciting opportunity for real estate enthusiasts, developers, and anyone with a vision for these once vibrant spaces. As the clock counts down to April 30, 2025, the hope remains that these remarkable structures will be transformed into something that breathes new life into the community.
Stay tuned for updates as this fascinating journey unfolds and offers a chance to bid on a piece of New Orleans history!
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