Shell Corporation Moving to the River District

Shell’s corporate, along with the 800 employees, will be moving to the River District. The headquarters is currently located on Poydras Street. The project should be completed by late 2024 or early 2025.

Employees are overjoyed with the decision due to the fact that many energy companies have been moving to Texas. “This is an exciting announcement that further solidifies the long-standing and successful relationship between Louisiana and Shell. This is a significant investment in the city and our state, and I’m grateful to everyone involved in turning this concept into reality,” said Governor John Bel Edwards.

“We have been an integral part of the community and the working coast….and we are committing to stay here with a new building,” said Colette Hirstius, Senior VP of Shell’s Gulf of Mexico location.

Click Here For the Source of the Information. 

Secrets to Finding a Home in Any Type of Housing Market

 The ever-changing housing market will always keep the buyer and seller guessing. If you are a buyer, it is always nice if the market is a buyer’s market. Even when the market is up, down, or somewhere in between, professionals in the industry have some tips on how to buy a home in any market.

1. Help Your Offer Stand Out

In a seller’s market, there will almost always be multiple offers on the home you are making an offer on. To get ahead of the game, it is a good idea to get pre-qualified for a mortgage. This will give you a rough estimate of how much you can afford. To ensure that you are able to purchase the home you want to make an offer on, get a verified approval letter from your lender. This will let a seller know that you are a serious contender and you can go through with the offer.

2. Partner With an Experienced Agent

A local real estate agent will be able to battle for you in any kind of market. They have extensive knowledge in the local market and can also refer you to a local lender. You can go into a home showing with the knowledge of the comparable property selling prices in the area and an agent can get you into pocket listings. Pocket listings are usually sold privately and are not listed on MLS. Agents also keep up with one another, so your agent can get the scoop and help you make an informed decision on which way to go.

3. Check Out Affordable Alternatives

Your budget might not be in line with your dream home, so you may want to shift your focus. Focus on your must haves and share these with your real estate agent. If you can move into another area that is cheaper, that can also be a way to get the home of your dreams. To check out other areas, use a cost-of-living calculator which can help you compare housing costs, and other factors in different areas.

4. Sweeten Your Offer

You want to get your offer a second glance, so you want it to stand out. You don’t just have to work with the purchase price on a counter offer, you can also negotiate other factors. An example would be if a seller is still shopping for a home, you can rent back their home after you purchase it. This will make your offer more attractive over others.

Remember purchasing a home is a big deal no matter what kind of housing market we are in. Be sure to choose a lender and a real estate agent who will help you with the home buying process from start to finish.

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Jefferson Parish West Bank Might Get A New Movie Production Studio

 The old Celotex building in Marrero might have a new purpose in Jefferson Parish. There are talks that the old eye sore will be revitalized into a movie production studio. The building on Fourth Street has been purchased by Maple Marrero LLC.

The site includes 67 acres with around 400,000 square feet of warehouse space. “We could have one of the biggest movie studios in Louisiana and still have over 200,000 square feet of vacant warehouse space, said partner Andrew Duncan.

Celotex’s Marrero plant opened its doors in the 1920’s and employed over 1,000 workers. The plant remained open until it was damaged by Hurricane Katrina and closed its doors in 2009.

Coincidentally the property has been a set for several films and television projects throughout the years. The Hollywood writers and actors strike has set the plans back.
“As soon as the film and TV industry activates again, the place will become active as a filming location. We can start that in 30 seconds,” replies Duncan.

For the next couple of months, the new owners are going to spruce the landscape on the site. “Like many industrial sites along the river, the Celotex site has fallen into disrepair and been underutilized for a number of years,” Duncan said.

“I’m hopeful that in the next couple of years, that eyesore will no longer be an eyesore and instead will be something that contributes to the economy of Jefferson Parish, ” said Jerry Bologna of JEDCO.

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U.S. Home Builders Beat Expectations for July

 According to data from the Census Bureau home building increased 3.9% in July from June. This stems from the buyers’ interest in new homes since the market is so low on existing home inventory. New home starts bumped up to a seasonally adjusted annual rate of 1.452 million which beat out the expectation from the Census Bureau of 1.448 million.

Single-family homes rose 6.7% in July with a seasonally adjusted annual rate of 983,000. This makes the number of units started up to 5.9% from July of last year.

“Buyers embraced new homes in the first half of this year as a welcome alternative to the massive shortage of existing homes. Homebuilders responded to the rebound in demand by ramping up production in the first five months of 2023 and rolling out incentives. The latest readings show activity skewing noticeably toward the single-family space,” said George Ratiu.

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Are the Home Prices Dropping Faster Than We Expected?

 Village Aurora Shopping Center opened its doors in the 80’s to its 250,000-square-foot center. Around ten years ago, the shopping complex was renovated and expanded. The shopping center has been purchased by a Los Angeles-based investor, Moisce Belinow. The purchase price set the California investor back $35 million. Belinow believes that the local property is a good investment with upside potential. The current shopping center houses a Winn-Dixie and a Chick-fil-A.

“Our occupancy is 98%, which is attractive. New Orleans doesn’t have a lot of vacancy for high-quality centers, which gives me a lot of comfort about investing in a high-quality property like this,” says Belinow.

The roof needs attention now and the outside needs a facelift. Belinow will sink $1 million into the immediate improvements. The Winn-Dixie will also make some upgrades to its supermarket located in the shopping plaza. Future plans for the shopping center will include a new retail building.

“We focus on adding values to our properties which means renovating, new construction, adding extra pads,” explains Belinow.

“These guys are used to much higher prices on the West Coast, and this is a deal for someone who is willing to take the risk into a tertiary market. There’s a much better return on your investment than you would get for the same asset in Dallas or Houston or Atlanta,” says Steve Reising with SRSA Commercial Real Estate.

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Algiers Shopping Center Purchased by California Investor

 Village Aurora Shopping Center opened its doors in the 80’s to its 250,000-square-foot center. Around ten years ago, the shopping complex was renovated and expanded. The shopping center has been purchased by a Los Angeles-based investor, Moisce Belinow. The purchase price set the California investor back $35 million. Belinow believes that the local property is a good investment with upside potential. The current shopping center houses a Winn-Dixie and a Chick-fil-A.

“Our occupancy is 98%, which is attractive. New Orleans doesn’t have a lot of vacancy for high-quality centers, which gives me a lot of comfort about investing in a high-quality property like this,” says Belinow.

The roof needs attention now and the outside needs a facelift. Belinow will sink $1 million into the immediate improvements. The Winn-Dixie will also make some upgrades to its supermarket located in the shopping plaza. Future plans for the shopping center will include a new retail building.

“We focus on adding values to our properties which means renovating, new construction, adding extra pads,” explains Belinow.

“These guys are used to much higher prices on the West Coast, and this is a deal for someone who is willing to take the risk into a tertiary market. There’s a much better return on your investment than you would get for the same asset in Dallas or Houston or Atlanta,” says Steve Reising with SRSA Commercial Real Estate.

Click Here For the Source of the Information.

« Annual Krewe of Boo Parade, October 21 , 2023

Gretna's Big Festival Has All the Headliners

 This October the Gretna Heritage Festival will be held and will have some big name appearances. The three-day event will see live music from Lynyrd Skynyrd, Kool and the Gang, Trombone Shorty, and Orleans Avenue and The Temptations just to name a few. The 27th annual festival is located along the banks of the Mississippi River in downtown Gretna.

According to Gretna’s Mayor, Belinda Constant, patrons will also enjoy entertainment from Trombone Shorty and Orleans Avenue, Luke Nelson and POTR, Trampled by Turtles and Herman’s Hermits starring Peter Noone. Saturday along with those mentioned before there will be performances by Lee Brice, JJ Grey and Mofo, Los Lobos, Ashley McBride, Blues Traveler and ZZ Ward. Local performers will include Dumpstaphunk, Iceman Special, Irma Thomas and the Professionals, and Treme Brass Band.

The festival started over 20 years ago with around 500 attending (last year around 50,000 people attended). Last year was the first year that patrons wore wrist bands as their admission.

“The RFID wristbands were new last year, and it took a little time for people to get used to them. But they turned out to be a huge success. Folks really came to appreciate how easy and convenient they made going to the fest,” says Constant.

“Gretna Fest is always such a wonderful event-not only for the city of Gretna but also for the entire New Orleans area,” praises Constant.

Click Here For the Source of the Information.