The Ernest N. Morial Convention Center holds approximately 47 acres of undeveloped lands which The McEnery Company was retained to provide an opinion of value in 2015. We were engaged by the Ernest N. Morial New Orleans Exhibition Hall Authority to provide multiple opinions of the market value of an aggregate of approximately 47 acres of highly marketable land situated directly adjacent to the New Orleans Convention Center. We have successfully provided accurate appraisal determinations on numerous similarly complex urban in-fill sites including the entirety of the land on which the South Market District was developed in Downtown New Orleans. The series of sites represent what is by far the largest undeveloped site within the urban core of New Orleans. The valuation included analysis of numerous sales from the immediate market area, as well as a land residual analysis for a portion of the property based on the hypothetical development of a flagship hotel. The real estate development plans contemplated for this key, in-fill tract is easily classifiable as the one of the most substantial real estate development in the City of New Orleans in decades. The publically available renderings of the broad concept are included below.