Quote:
Originally Posted by SlidellWx
I think we'll see areas in Gentilly and Central City moving into higher value brackets by the next update in three years. Central City due to proximity to the CBD, and Gentilly due to more typical middle class lifestyle of single family homes with a yard. The small pocket of lower values in West Carrollton will probably be completely gentrified by then. New Orleans East and Algiers will probably be little changed given the lack of investment in those areas currently. Seventh and Ninth Wards will probably see values increase near St. Claude, but farther back toward the lake I don't see much changing in the next few years. Curious what y'all think.
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I do agree that Gentilly and Central City are on the way up. Part of it is a chicken and egg situation, people are looking there for better value, but once the population grows enough, there will be more amenities to attract a more selective crowd. I suppose the same can be said of the East, but that is a bit further off.
I do remember talk of targeting St. Bernard Ave for improvement as was done on Freret St. and OC Haley, so that would hopefully spur some development. I think the next area to target should be North Claiborne. The area is generally run down, but it is well positioned and has plenty of buildings to renovate and lots to build on. With a coordinated effort to rebuild infrastructure, add landscaping, and deal with blight, it could be a very nice area.
Article on the Convention Center Hotel
http://www.theadvocate.com/new_orlea...c6feb346a.html
Jaeger seems to have shot himself in the foot with his opposition to the Harrah's deal yet looking to benefit from major tax breaks. I have to say it does seem like a very generous deal. 10% down payment from convention center funds and tax breaks that essentially pay for the building leave a lot of room for profit. I don't mind so much if the Convention Center and LSED want to give up their portion, but state and city taxes should be off limits. More visitors means more strain on public safety, infrastructure, and transit and this project needs to contribute a fair share towards those efforts. A better trade off would be more money directly from the CC's coffers. I know it's a challenging location, but there are plenty of hotels being built around the city without so much subsidy. And by the way Jaeger and the Convention Center are the reason the area is not attractive for a hotel developer. If they had put in some apartments, retail and did something interesting with the power plant, I bet hotel developers would be a lot more interested in the deal.
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