$60M condo project begins at Tracage

Construction began Nov. 30 as a bulldozer punched through a concrete warehouse at the corner of Annunciation and John Churchill Chase streets, clearing the way for the $60-million Tracage luxury condo development.

The 127-unit Warehouse District condo project is expected to be finished by the first quarter of 2009.

Rob Tatum, one of the developers, said it is the first new high- rise residential project to begin construction since Hurricane Katrina.

Units range in size and price from roughly $200,000 for a 573- square-foot condo to $2 million for a 2,900-square-foot, two-story penthouse.

Developers say 70 percent of the units have reservations, meaning potential buyers have expressed an interest in the units. Reservations will soon be converting into hard contracts, developers said.

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