New Orleans, Louisiana

In the city of New Orleans, the lakefronts are becoming a location where developers of real estate are doing residential construction for high-end investors.

What is an important cause of this type of development? It’s that there is increasing desire for luxury homes in New Orleans. With great views, lake front locations are high end property. The demand is fed by great views of the Mississippi River as well as Lake Pontchartrain.

An important factor is that it is the way the city of New Orleans will be able to pull in jobs needed for high income construction occurring in New Orleans. The city has a strong interest in creating a greater number of upper income work opportunities.

An important factor though is that New Orleans’ high priced condominium market is pricewise at the upper end.

Now onto commercial real estate:

There is a university in New Orleans named Tulane University that has began new construction on a new $55 million facility which is three stories and named the Commons. The building will serve multipurpose needs, and is scheduled to open in 2019. It will house on a permanent basis Newcomb College Institute, a new hall for dining, and meeting spaces that are multipurpose.

Concerning another property, Felicity Property Company, a development company held a meeting in the neighborhood and shared their plans for their new construction which will be located at 1300 Magazine Street. The name of this new development is The Framework. Several buildings surrounding a central courtyard will be featured. 

All of the buildings will have commercial and retail on the ground floor and have office space occupying the 2nd floor.