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Regional economic development officials on Tuesday announced a major expansion of NASA’s Michoud Assembly Facility campus in New Orleans East, breaking ground on a new 50-acre industrial and office park that will be located on an undeveloped parcel on the site.
The development, which will be called Propel Park, will include more than 1 million square feet of warehouse and office space and represents the first new industrial development in Orleans Parish in more than 20 years, according to economic development officials.
Houston-based IRG is developing the park and has signed a long-term lease for the site with NASA.
IRG also has secured its first tenant. Slidell-based Textron Systems has a facility at the Michoud Assembly Facility but will be relocating to a new 97,025-square-foot space that will comprise nearly one-third of the park’s nearly 300,000-square-foot first phase.
“We are proud to expand our footprint in New Orleans East, as this project will provide a safe, secure, and efficient location to conduct our material logistics operations, ” said Ryan Schaffernocker, Vice President Sea Systems at Textron. “This project will serve as an excellent complement to our shipyard operations.”
Target users for Propel Park include light assembly, manufacturing, distribution, and office tenants.
While it is unclear how much demand exists for additional warehouse space in New Orleans, economic development officials say Propel Park will provide a Class A product that does not currently exist in the market.
Construction of the project is being performed by Impetus, a regional general contractor specializing in the building and infrastructure spaces.
This is a developing story. Check back later for more details.
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