New Plans For the Market Street Power Plant

 The Market Street Power plant has been part of the New Orleans riverfront for 120 years. Locals are familiar with the big Victorian-style smokestacks but they won't be there for long. The new owners, local developers Louis Lauricella and Brian Gibbs, are currently devising plans to convert the property into a hotel, offices, shops, and some kind of entertainment venue.

The Market Street Power Plant, an old coal-fired plant, was built in 1902 by Entergy Corp. Entergy was responsible for supplying electricity to New Orleans.

This is not the first person to plan to convert the old plant. Developer Joe Jaeger purchased the plant in 2015 for $8.7 million and had plans to turn it into a Live Nation music venue. In 2020 he put the property up for sale along with an additional 7-acres surrounding the plant for $16.9 million.

Now the 160,000-square-foot power plant will be turned into a "new-to-market concept which will include restaurants, retail, entertainment, hotel, and office space.

"The Market Street Power Plant site is an important piece of our overall vision for the riverfront,” Lauricella said. "This site holds the potential to be a transformative project for our community."

The project is just a small part of the new area which is called The River District. Adjacent to the plant is the 39-acres that will be the remaining part of the new entertainment-focused district. The district will include housing, retail, entertainment, and office space and will cost around $1 billion. There will be a civil rights museum as well as around 300 apartments that will be affordable for lower-income residents.

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Audubon Nature Institute's Okapi Will Have A New Baby

 The New Orleans and San Diego zoo organizations have come together to breed endangered species. Asili, an okapi is one of these endangered species and she is now pregnant.

“It’s a very big deal” in the zoo world, according to Michelle Hatwood, General Curator at the Audubon Nature Institute’s Species Survival Center in Algiers.

“She’s doing great, she’s huge,” Hatwood said. “She’s already a big female, so now she’s got this big belly on her.”

The okapi, also known as the giant pandas of the hoofed-stock world, is an endangered species from Central Africa. Asili, who looks like a horse and zebra came together, lives on a 1,200-acre site along the Mississippi that Audubon leases from the U.S. Coast Guard.

The 1,200 acres are used by both Audubon and San Diego Wildlife Alliance to allow these endangered species to live and roam. So far, they have produced 52 mammals that were eight different species and 83 birds from six different species.

The main goal is to breed these animals for zoo populations but the bongo has been successfully re-established in the wild. The Bongo is a highly endangered species that lives in Central Africa. They are now trying to re-establish the whooping cranes which became extinct in Lousiana years ago. So far Audubon is slowly adding the bird back into the wildlife population around Lake Charles.

"If we don't step up, who is going to?" said Ron Forman, Audubon Nature Institute president and CEO. "This alliance is going to make a difference."

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Tips To Find The Right Home Builder

 Building a home can be one of the biggest life changes you make. Not only is it a big event in your life, but also is one of the biggest investments that you will make. If you are planning on building a home, choosing the right builder can be very important. Not only should your builder be professional and experienced but also needs to be the right fit for your needs and situation.

1. Get Prepared Before You Search.

Just like when making an offer to a seller without a pre-approval makes no sense, looking for a builder without a pre-approval for a construction loan doesn't either. You will want to get pre-approved so that builders you inquire on will know that you are serious.

Before you begin your search you need to determine what type of home you want to build and how much you are willing to spend. There are tons of builders out there with great credentials, but a first-time homebuyer is not going to choose a luxury custom home builder. Find a home builder that builds something in your price range.

2. Be Clear And Look For Experience.

When speaking with a builder, you want to be clear and concise with what you want in your new home so you can compare what each builder may offer. If you want hardwood floors but forget to mention this, then a builder can give you an accurate proposal.

Not only do you need to be transparent with exactly what you want in a home but you also need to ask questions. Ask the builder how long they have been in business? If it is a company with several builders, then ask how long the company has been in business and how long has its principals been building homes. The more questions you ask, the better you will see if the builder is right for you.

3. What's Their "Happy Homeowner" Quotient?

If you are building in a certain community, ask around and see what the neighbors think of the builder. Several questions to ask would be, would they build another home with their builder, would they recommend their builder to a friend or relative, how is the builder's service or how are they at communicating? If you are building on a single lot, ask the builder for references from previous homebuyers.

Another good source is to ask the experts. Lenders, Real Estate Agents, Building Material Suppliers, Builders Associations, and Code Inspectors work closely with builders and can tell you who to go with or who not to go with. Ask them who their top 3 to 5 builders in the area are and why.

4. Make Sure You Are Protected.

Make sure each builder you are considering has a license and is insured. There are several states in the country that do not have laws in place to make sure all builders are covered. Ask to see verification that you, the company, the builder, and the builder's employees are covered if there is a loss or accident.

Another thing you want to make sure to have is a warranty. Many products you purchase come with a warranty, so why shouldn't a large investment such as a home not have one? A promise from the builder is not enough, make sure your home should come with a long-term written & insured 3rd party warranty, not just a promise from the builder to perform.  This covers you even if the builder goes out of business.

Remember building a home is a big investment and you do not want just any Joe builder to come along and build it. Make sure you have gone above and beyond the steps mentioned here to make sure your builder is a professional with a clean slate.

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Owning A Home Is Not Only Smarter Than Renting, It Is Also Cheaper

 Even though house prices are on the rise and mortgage rates are starting to increase, buying a home is still a smart move. ATTOM Data found that owning a home in 2022 is more affordable than renting across most of the country.

“. . . Owning a median-priced home is more affordable than the average rent on a three-bedroom property in 666, or 58 percent, of the 1,154 U.S. counties analyzed for the report. That means major homeownership expenses consume a smaller portion of average local wages than renting.”

Not everyone is in agreement with ATTOM Data. CoreLogic's Single-Family Rent Index revealed that single-family rent saw a huge growth year-over-year. Single-family rent growth hit its sixth consecutive record high. . . . Annual rent growth . . . was more than three times that of a year earlier.

Remember even if the house prices are rising along with rent prices, you benefit from owning. When you rent the increased monthly payments go directly into your landlord's pocket. A monthly mortgage payment is a form of savings in a sense. You are building equity which you will get back once you sell your home. Homeownership also takes up a smaller portion of your paycheck.

If you are in the market to purchase a home, now is a great time. Contact a Realtor who can help you through this process. Having a trusted advisor on your side is the smart way to go.

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