Piazza d'Italia by Charles Willard Moore, New Orleans.
For much of its history, New Orleans' skyline consisted of only low and mid rise structures. The soft soils of New Orleans are susceptible to subsistence, and there was doubt about the feasibility of constructing large high rises in such an environment. The 1960s brought the trailblazing World Trade Center New Orleans and Plaza Tower which demonstrated that high-rise could stand firm on New Orleans' soil. One Shell Square took its place as the city's tallest building in 1972, a title it still holds. The oil boom of the early 1980s redefined New Orleans' skyline again with the development of the Poydras Street corridor. Today, New Orleans' high-rises are clustered along Canal Street and Poydras Street in the Central Business District.
Located within the Central Business District is one of the world's most famous pieces of Postmodern architecture.
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Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.
resource and information
Resources and Information The growth of entrepreneurial activity has made an evident impact on the economic development of the city. As a result, more individuals and organizations are working to continue the consistent growth, as well as retain the young talent in the city. These organizations include collaborative workspaces, economic development agencies, and professional service providers all aiming to help expand locally-based businesses.
1. Launch Pad- A 12,000 square foot collaborative workspace that can accommodate 70 companies and 170 people.The space is occupied predominantly by creatives within the digital and film sectors, however, a variety of service providers in the building are available to help entrepreneurs with their businesses needs, further contributing to the unique camaraderie between Launchpads tenants.
NEW ORLEANS Seven years after Hurricane Katrina, four years after the onset of the Great Recession, two years after the Deepwater Horizon oil spill,what does the very latest data say about how the city and region are doing?
New Orleans is a smaller city but is still growing.
According to the U.S. Census Bureau, New Orleans was the fastest growing large city in the country between 2010 and 2011.
As of July 2011, the Census Bureau has estimated New Orleans population at 360,740, or 74 percent of its 2000 population of 484,674. The metro area, with 1,191,089 residents, has 90 percent of its 2000 population of 1,316,510.
New Orleans has weathered the recession relatively well. From June 2008 to June 2012, the New Orleans metro experienced a 0.1 percent decrease in jobs while the nation lost 3.0 percent of all jobs.
Entrepreneurship has spiked in the metro area postKatrina with 427 of every 100,000 adults starting a business during 200810 compared to 333 of every 100,000 adults nationally.
City of New Orleans sales tax collections for the first six months of 2012 are at $84.7 million 15 percent higher than the first six months of 2010, and 6 percent higher than the same months in 2005.
Blight is rapidly declining in New Orleans, down from 65,428 blighted residential addresses in March 2008 to roughly 35,700 in March 2012.
The poverty rate in the New Orleans metro declined from 18 percent in 1999 to 15 percent in 2007, but then increased to 17 percent in 2010, such that it is now (statistically) the same as it was back in 1999. In New Orleans itself, the 2010 poverty rate of 27 percent is also statistically the same as it was in 1999 after falling to 21 percent in 2007.
Like the overall poverty rate, child poverty rates in Orleans Parish and the metro area dropped in 2007 but have since increased again to their 1999 level. In 2010, the child poverty rate was 42 percent in the city and 26 percent in the metro, both higher than the U.S. rate of 22 percent.
PostKatrina housing is unaffordable with 60 percent of renters in the city paying more than 30 percent of their pretax income on rent and utilities in 2010, up from 51 percent of renters in 2004.
Since 1932, 29 percent of the wetlands that protect the New Orleans metro area have been lost.
As of August 2012, FEMA had obligated $9.7 billion for debris removal and infrastructure repairs for the New Orleans metro, with $5.9 billion paid to localities and $3.8 billion still forthcoming.
As of August 20, 2012, the state has disbursed $8.96 billion in Road Home grants to 129,906 preKatrina homeowners.
The New Orleans metro area is more diverse than in 2000 with a gain of 33,507 Hispanics and 3,268 additional Asian residents. The Latino population in the metro spiked 57 percent between 2000 and 2010 a rate greater than the nation's 43 percent growth.
The percent of New Orleans households without a vehicle fell from 27 percent in 2000 to 19 percent in 2010, and across the metro the percent fell from 15 to 10 percent of all households in 2010.
In the city of New Orleans, 33 percent of adults 25 and older had a college degree in 2010, up from 26 percent in 2000, and a full five percentage points higher than the U.S. average of 28 percent for 2010. The metro area share of adults with a bachelors degree has also increased, from 23 to 27 percent.
New Orleans Plantations
New Orleans Area Plantations
They were once the mainstays of a regional agrarian economy, as well as the bastions of a genteel culture. Now they are major tourist attractions offering windows into a bygone past. They are the plantations, and in southern Louisiana there are a good number of them within easy driving distance of New Orleans.
In New Orleans, old homes are architectural treasures. Take a leisurely walk through one of the city's unique neighborhoods and find a myriad of styles, including:
1790-1850. Found mainly in the French Quarter and surrounding area. Cottages are single story, set at ground level. Steeply pitched roof. Symmetrical four-opening facade wall, set close to front property line. Made of stucco or wood exterior.
1820-1850. Found in the Central Business District or Lower Garden District. A narrow three-story structure set near ground level. Facade wall on property line. Asymmetrical arrangement of facade openings, balcony on second floor. Exterior made of brick or stucco.
Not pictured. 1788-mid-1800s. Found in the French Quarter and surrounding neighborhoods. Two to four-story structure set at or near ground level. Asymmetrical arrangement of arched openings on facade wall set on property line. Iron balcony at second and sometimes third levels. Steeply pitched side-gabled roof often with multiple roof dormers. Brick or stucco exterior.
Raised Center-Hall Cottage or Villa
1803-1870. Found in the Garden District, Uptown, Carrollton and elsewhere. One-and-a-half story house raised two to eight feet above ground on brick piers. Full-width front gallery framed by six columns supporting entablature. Five openings with front door in the center. Side-gabled roof, often broken by central dormer. Exterior made of wood.
1850-1910. Found throughout New Orleans. Usually one-story, but many with second story set at rear of house (called camelback). Narrow rectangular structure raised on brick piers. Most have narrow front porch covered by a roof apron and supported by columns and brackets, often with lacey Victorian ornamentation. Predominant New Orleans house type. Wood exterior.
1820-1850. Found in the Lower Garden District, Garden District, Uptown, Esplanade Ridge. Two-story structure raised on low brick piers. Side-gabled or hipped roof. Structure set back from property line. Covered two-story galleries framed by columns supporting entablature. Asymmetrical arrangement of facade openings.
To learn more about the fabulous architecture found throughout New Orleans, visit the Preservation Resource Center at: www.prcno.org or book a trip to New Orleans and see this treasure trove filled with architectural gems.
Only one retail real estate market surveyed by Real Capital Analytics in its report for August hit peak property pricing levels--that is, at or above pricing levels reached in December 2007--and that was Boston. Reaching 105% of peak pricing, Boston's average retail property price was up by 23% year-over-year. Only two other markets, Seattle and Chicago, had prices which averaged more than 90% of peak pricing, and, in Chicago, prices were up year-over-year 31%, the most improvement of any market surveyed by RCA.
In Boston, one of the most exciting retail developments is happening, not in the suburbs, but in the urban core on Newbury Street, the city's fashionable shopping district, where 19th Century architecture is alive and well. It is here that Jamestown Properties bought a 130,000-square-foot portfolio for $226 million last fall that is spread out over 28 buildings, most of which are on Newbury Street. Plans for the Jamestown Properties' acquisition include a wide variety of renovations and the introduction of new retailers, according to a New York Times article from September 11, 2012.
In addition to Jamestown's plans, nearly $2 billion in other projects are in the works in the Newbury Street area. They are either under construction or in the planning stages, including an expanded Chanel store and a Restoration Hardware store as well as a $500 million redevelopment of Copley Place mall.
At the national level, according to RCA's US Capital Trends retail report for August, sales of significant retail properties totaled $2.7 billion in August, an increase compared to July and a small gain from the year before. Of all the markets charted by RCA, Manhattan had the highest sales volume, at $2.7 billion, followed by Los Angeles with $1.4 billion. Malls and single tenant property sales continue to grow, up 22% year-over-year in August and 88% in the first eight months of 2012. Sales of strip centers totaled $1.5 billion in August, down 10% year-over-year.
Investment momentum is stronger than the volume figures suggest if portfolio sales are omitted, according to RCA. One-off property sales were up 20% in the first eight months of the year and remained strong in July and August, with few major portfolios trading in either month. Distressed transactions reached their highest monthly level in August, accounting for 18% of the total volume.
Nationally cap rates for strip centers averaged close to 7.6% in the first eight months of 2012, but a wide variation in the quality and locations of the properties, make it hard to establish average per square foot prices.
While it is clear that prices for retail properties are rising, says RCA, the rate of appreciation slowed in the first eight months of 2012. Prices for retail properties in the Northeast and Mid-Atlantic have recovered significantly more than in other regions.