DALLAS — New Orleans is spending millions to purchase a hospital damaged by Hurricane Katrina and renovate the vacant facility to serve residents of the city’s east side.

The city will pay $16.3 million to purchase Pendleton Memorial Methodist Hospital, which has not operated since 2005. Mayor Mitch Landrieu estimated Friday that it will take another $110 million to fully renovate the facility into an 80-bed community hospital.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.