The storied Avondale shipyard, once home to Louisiana’s largest employer, has been sold for 445-million dollars.
Owner T. Parker Host purchased the 254-acre property for roughly than 60-million dollars. Host invested over 150-million dollars converting the property from a shipyard into the Avondale Global Gateway, a water front terminal and industrial park.
Now the Avondale Gateway will become part of the largest port in the state when The Port of South Louisiana completes its purchase.
“This acquisition of Avondale Global Gateway sets the stage for exciting new developments at the waterfront industrial park and will serve as a catalyst for new economic activity in Jefferson Parish and across our region,” said Jefferson Parish President Cynthia Lee Sheng.
According to Adam Anderson, President and CEO of T. Parker Host, they will continue working as the terminal’s operator.
“The state’s largest port is ready to own the state’s greatest industrial icon,” said Port of South Louisiana Chief Executive Officer, Paul Matthews.
