The Outlet Collection at Riverwalk

The Outlet Collection at Riverwalk is a shopping center on the Mississippi River waterfront in New Orleans, Louisiana. The property extends through the Central Business District from the foot of Canal Street toward the New Orleans Ernest N. Morial Convention Center and is connected to the Hilton New Orleans Riverside hotel. Although the site is now marketed as an outlet destination, it began as Riverwalk Marketplace, a festival marketplace developed by The Rouse Company and opened in 1986. The original concept was shaped by the redevelopment of New Orleans's riverfront after the 1984 World's Fair. Rouse proposed a tourist-oriented retail complex on former dock facilities, drawing on the company's earlier festival marketplaces in Baltimore and Boston. Riverwalk Marketplace opened on August 29, 1986, with a large public celebration and strong initial attendance. Its early tenant roster included nationally recognized retailers such as Banana Republic, Gap, The Sharper Image, the Warner Bros. Studio Store, and Eddie Bauer. The marketplace nevertheless struggled commercially almost from the beginning. Visitor numbers were below projections, and Rouse undertook a substantial remodeling program in 1987. The changes did not solve the center's profitability problems, and Rouse reported in 1990 that the property remained unprofitable. Its performance was affected by changing shopping patterns, competition from other retail areas, and the difficulty of sustaining a destination marketplace dependent on tourism. The property experienced two major physical disruptions. On December 14, 1996, the bulk carrier MV Bright Field lost power and struck the complex. No fatalities were reported, but approximately 66 people were injured and numerous shops and portions of the surrounding structures were damaged. The estimated damage to the mall, pier, hotel, and condominium properties was approximately $15 million. In 2005, Hurricane Katrina caused extensive wind and looting damage, forcing a temporary closure. A phased reopening began in November 2005, followed by repairs and modernization. Occupancy later improved substantially, but tourism and retail demand remained uneven. Ownership and corporate control also changed. General Growth Properties acquired The Rouse Company and its assets in 2004. After General Growth entered Chapter 11 bankruptcy proceedings in 2009, selected properties were transferred through a corporate separation into The Howard Hughes Corporation, completed in 2010. In 2012, Howard Hughes announced a major redevelopment that would convert the aging festival marketplace into an upscale outlet center. The original center closed in June 2013, and the renovated property reopened on May 22, 2014, under the name The Outlet Collection at Riverwalk. The redevelopment expanded the center from approximately 200,000 square feet to 250,000 square feet and added about 50,000 square feet of retail area. Its positioning shifted from a broad festival marketplace to a downtown outlet destination featuring brands such as Coach Outlet, LOFT, Nordstrom Rack, and Neiman Marcus Last Call Studio Outlet. The project was promoted as an upscale outlet center in a major American downtown setting, combining tourist accessibility, waterfront location, hotel connectivity, and discount-oriented fashion retail. The center temporarily closed during the COVID-19 pandemic in March 2020. Tourism losses pushed occupancy below 50 percent, although phased reopening began in June. Outdoor events and other efforts were used to support the area's tourism recovery. Neiman Marcus Last Call closed permanently in 2020 after Neiman Marcus Group entered bankruptcy proceedings. In July 2022, RockStep Capital acquired the property from Howard Hughes for a reported $34 million, according to the cited reference material. The center remains an active New Orleans retail and tourism property, with its identity now centered on outlet shopping rather than the original festival-marketplace format.

The property occupies former riverfront wharf areas that became available as containerization reduced the usefulness of older New Orleans docks. Portions of the Poydras Street and Julia Street wharves were demolished, and the riverfront was used during the 1984 World's Fair. The Rouse Company then proposed a festival marketplace intended to bring tourists and local shoppers back to the waterfront. Plans presented to the New Orleans City Council in 1984 described a project costing approximately $55 million; total development cost was later reported at about $60 million. Riverwalk Marketplace opened on August 29, 1986. Its design and commercial concept followed Rouse's successful Harborplace and Faneuil Hall Marketplace models, using a destination-oriented mix of shops, food, and public spaces. The project attracted approximately 45,000 visitors on its first day, but attendance soon fell below expectations. Rouse launched a roughly $4.5 million remodel in 1987, yet the center remained financially weak. By 1990, the company was reporting that the marketplace was unprofitable. A major accident occurred on December 14, 1996, when the MV Bright Field struck the mall after losing power. The collision injured approximately 66 people and damaged around 15 shops, the pier, nearby condominium properties, and hotel-related structures. No fatalities were reported. The property later changed corporate hands when General Growth Properties acquired The Rouse Company in November 2004. Following General Growth's 2009 Chapter 11 bankruptcy filing, Riverwalk was among the assets separated into The Howard Hughes Corporation, a process completed in 2010. Hurricane Katrina caused another severe interruption in August 2005. Wind and looting damage forced the center to close temporarily. Smaller tenants began reopening in November, and by late December approximately 70 percent of stores were operating. Repairs and modernization continued, including improvements to lighting, seating, cleaning, and general presentation. Occupancy rose over subsequent years, reaching a reported 90 percent in 2011, although tourism and tenant demand remained unstable. In July 2012, Howard Hughes announced an approximately $70 million redevelopment. The project replaced the festival-marketplace positioning with an upscale outlet concept, expanded the retail footprint by about 50,000 square feet, and modernized the 1980s interior. The center closed in June 2013 and reopened on May 22, 2014, as The Outlet Collection at Riverwalk. The new tenant mix included Coach Outlet, LOFT, Nordstrom Rack, and Neiman Marcus Last Call Studio Outlet. The outlet center faced another major disruption in 2020 when the COVID-19 pandemic reduced travel and caused a temporary closure. It reopened in phases beginning in June, while occupancy fell below 50 percent during the tourism downturn. Neiman Marcus Last Call subsequently closed after its parent company entered bankruptcy. RockStep Capital acquired the property from Howard Hughes in July 2022. Later tenant changes included the reported arrival of Burlington in 2025 and the liquidation of Francesca's stores following bankruptcy proceedings in 2026. The property continues to operate as a downtown New Orleans outlet center.

• 2022

  RockStep Capital becomes owner

  [1]The Outlet Collection at Riverwalken.wikipedia.org

  RockStep Capital acquired the center from The Howard Hughes Corporation.

• 2014

  Outlet-center relaunch

  [1]The Outlet Collection at Riverwalken.wikipedia.org

  The redeveloped property reopened under The Outlet Collection at Riverwalk name.

• 2005

  Hurricane Katrina damage and reopening

  [1]The Outlet Collection at Riverwalken.wikipedia.org

  The center closed after Katrina and resumed operations gradually from November 2005.

• 1996

  MV Bright Field collision

  [1]The Outlet Collection at Riverwalken.wikipedia.org

  A cargo vessel struck the complex, injuring approximately 66 people and damaging multiple shops and surrounding structures.

• 1986

  Riverwalk Marketplace opens

  [1]The Outlet Collection at Riverwalken.wikipedia.org

  The original festival marketplace opened to the public on August 29.

• 1984

  Riverfront redevelopment plans are presented

  [1]The Outlet Collection at Riverwalken.wikipedia.org

  The Rouse Company presented plans for a festival marketplace using portions of former riverfront wharves after the World's Fair.

A downtown waterfront outlet center combining tourist retail, national fashion outlets, dining, hotel connectivity, and access to New Orleans attractions.

• Shopping center format · 1986

  Festival marketplace retail

  The original Riverwalk Marketplace combined retail shops, food and beverage venues, and public circulation areas in a tourist-oriented waterfront setting. Its concept was modeled on Rouse Company's festival marketplaces, which sought to make historic or central urban areas into destination shopping and dining districts.

• Outlet shopping · 2014

  Outlet fashion retail

  Since the 2014 redevelopment, the center has focused on outlet and off-price fashion shopping. The relaunch included national brands such as Coach Outlet, LOFT, Nordstrom Rack, and Neiman Marcus Last Call Studio Outlet, supported by the property's downtown location and proximity to hotels and tourist destinations.

• 2021Outdoor tourism-recovery events

  New Orleans · United States

  The center used outdoor events and related programming during 2021 to help rebuild visitor traffic after pandemic restrictions and the collapse in tourism.

  Outcome. The cited material describes the events as part of recovery efforts but does not provide a quantified result.

  Source

• 2022

  RockStep Capital acquisitionM&A

  Background

  The property changed ownership after operating as part of Howard Hughes's portfolio.

  Action taken

  RockStep Capital acquired Riverwalk Outlets from The Howard Hughes Corporation.

  Aftermath

  RockStep Capital became the reported owner of the active outlet center.

  Acquisition price. $34 million (July 2022)

  Source

• 2014

  The Outlet Collection at Riverwalk launchesGeneration change

  Background

  The former festival marketplace required a new commercial identity and tenant strategy.

  Action taken

  The property reopened as an upscale outlet center, expanded from approximately 200,000 to 250,000 square feet.

  Aftermath

  The repositioning introduced a new national outlet tenant mix and established the property's current brand identity.

  Source

• 2012

  Conversion from festival marketplace to outlet centerStrategy

  Background

  The long-running marketplace struggled with weak tourism recovery and continuing tenant departures despite post-Katrina repairs.

  Action taken

  The Howard Hughes Corporation announced an approximately $70 million redevelopment and repositioning as an upscale outlet mall.

  Aftermath

  The center closed in June 2013 and reopened in May 2014 under a new name and with an expanded retail footprint.

  Announced redevelopment cost. $70 million estimated project cost (2012 announcement)

  Source

• 1987

  Early marketplace remodelingStrategy

  Background

  Visitor traffic was approximately 15 percent below expectations soon after the original opening.

  Action taken

  The Rouse Company carried out a major remodeling effort reportedly costing about $4.5 million.

  Aftermath

  The intervention did not resolve the center's profitability problems; Rouse later described the marketplace as unprofitable.

  Source

1. 1The Outlet Collection at Riverwalken.wikipedia.org