Located in the Central Business District (CBD), it is the third tallest building in both the city of New Orleans and the state of Louisiana.

[5] The Plaza Tower was the tallest building in New Orleans and Louisiana for four years until the Hancock Whitney Center (then called One Shell Square) surpassed it by over 160 feet (49 m).

Along with the World Trade Center on the Mississippi riverfront, the Plaza Tower marked the beginning of modern high-rises in New Orleans.

The Plaza Tower was originally designed primarily as an office building with some residential space on the upper floors.

The proposed new facade would feature a neomodern look, making extensive use of glass and staggered balconies, to provide the units with views of the New Orleans skyline and the Mississippi River.

Once complete, the building would have included amenities such as a gourmet restaurant, spa, fitness center, indoor pool and retail space.

A construction timetable was being developed in light of delays and logistical issues since Hurricane Katrina, with estimates for an opening date in 2008.

This redesign includes glass designed to withstand 200 mph (320 km/h) winds, a self-contained electrical generator, and an internal water supply, which developers say could make the building self-sufficient for three to four weeks.

[citation needed] In July 2007, the owners defaulted on the mortgage and the Plaza Towers was put on the auction block.

On December 19, 2007, Plainfield Direct paid the City of New Orleans $608,000 in back taxes and announced plans to spend $10 million on environmental remediation.

[11] On 10 January 2023, the long derelict building was again in local news as pieces falling dangerously to the ground again prompted closure of surrounding streets.

New Orleans Mayor Latoya Cantrell has explored the possibility of demolishing the building if the structure poses any more safety hazards.