Mixed-Use Development to Form the Trade District in New Orleans

With the improvement in the national economy, developers want to seize the opportunity when it comes to mixed-use development. 10 years after Hurricane Katrina, the residential and commercial development growth has started to increase, especially in the last few years. The end of the Recession and the resurgence in the housing market has much to do with this growth with even places such as the Central Business District becoming more residential.

In addition to the Central Business District, New Orleans metro area also includes the Warehouse District and the Lower Garden District. Now, savvy developers have come up with the Trade District which will be located just 10 miles from The Parks of Plaquemines neighborhood on the eastern bank of the Mississippi River. The vision for the new site is to create a master planned community consisting of an MGM Grand hotel, more than 1,400 residences, retail and restaurants and a towering needle-like sculpture all along the riverfront. The vacant land, which sits upriver from the New Orleans Ernest N. Morial Convention Center between Pontchartrain Expressway and the Market

Street power plant, is owned by the Convention Center and has been envisioned as a mixed-use development for many years.

The Convention Center plans to spend upward of $175 million dollars on the existing buildings and adding to the Center’s infrastructure to hopefully attract a whopping billion dollars in private investments for the project. The “big picture” plan is that the hotel, retail and restaurants will attract visitors to book meetings and conventions at the Convention Center which will help boost not only tourism but business from residents in towns such as Terrytown, Gretna and Westwego across the river on the West Bank of New Orleans. Developers on the project are in talks with the Howard Hughes Corporation, which developed and owns the Outlet Collection at the Riverwalk, and Darryl Berger and Joe Jaeger local real estate moguls to appoint the lead developers of the new site.

Mark Bulmash, Howard Hughes senior vice president, plans for the mixed-use, real estate development project to take years to complete. He goes on to say that, “We think it’s the opportunity to really knit different neighborhoods together … It’s one of these projects that could be a seminal project in the city’s history if it all comes together.” He believes the new construction needs “to be executed well” and that the architectural design and ideas will constantly be changing in order to develop into the community as it is destined to be.

The first step in the multi-layered project is to spend $ 65 million to change the way traffic would flow around the Warehouse District by building a linear park with a moving walkway for pedestrians

heading to the Convention Center. This will improve the pedestrian traffic that occurs around Convention Center Boulevard.

For the commercial aspect of the development, the plan is to incorporate an economic development district to levy special sales taxes which will eventually result in paying for parts of the commercial development. The “headquarters hotel campus” which will be comprised of conference spaces, restaurants, a spa, nightclubs and performance venues will include designers such as the MGM Hakkasan Hospitality group which will aid with the design and execution of the added amenities for the hotel.

The Trade House has been described as the “culinary emporium” where food venders and chefs come under the same roof selling their creations at the intersection of Tchoupitoulas and Race Streets. The concept of the Trade House is patterned after the Ferry Building Marketplace in San Francisco and Pike Place in Seattle. The Riverfront Building will include restaurants as well as an additional 250,000 square feet of retail space adding to the already 50,000 square feet of retail sales areas in the hotel.

Another area will be a “cultural campus” concept where there will be possibilities for research, higher education and museums. The residential potential totals to 1, 427 new homes and rentals consisting of 29 townhouses, 979 apartments, 359 condos and 60 “MGM Skyloft” units at the top of the hotel. The whole neighborhood will also have a public green space throughout the development.
Many are looking forward to seeing what the future holds for this project and what it will bring to this underdeveloped section of the city.

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The Perks of Living NEAR New Orleans, Louisiana

When a person thinks of living in or moving to New Orleans, Louisiana, there are many positive ideas and feelings that invoked with that thought.  The most popular draws to this city in the crescent of the Mississippi River are that the city has amazing cuisine, culture, climate (well, for 8 months of the year), and fine arts – music, arts, theater, street performers, etc.  Images turn to the French and Spanish influenced architecture of the French Quarter and the simplistic design of cottages and shotgun houses of the Marigny.  There are well-known segments of the city – Uptown, Lakeview, the 9th Ward, and the long glorified Garden District made famous by Anne Rice and her vampires.  And speaking of vampires, visitors and residents alike must remember that the City of New Orleans is about to celebrate its 300th birthday, so it is steeped in history, memories, and sometimes even ghosts.  All that the city has to offer includes not only the partying and debauchery of Bourbon Street or the elegance and wealth of the Garden District, it also is a thriving metropolis with the opportunity to work with some of the nation’s top corporations.

New Orleans is also known for being one of the most entrepreneurial cities in the United States.  In New Orleans, “we celebrate everything,” and this is emphasized in the fact that there are at least 2 conventions / seminars held in the city to encourage and finance start-up small businesses or inventions.  Another less savory thought that comes to mind when someone thinks of moving to and living in New Orleans is the crime and the poverty of the city.  Just like any larger “central city” in America, with a large city comes more people with more problems.  Murders are down, but petty crime and property crime is up – try to figure that one out!

What IF…what if you could “have your cake and eat it too?”  What if there was a place that you could live that had a lower cost of living, lower property taxes, lower city taxes, and lower utility bills.  What if you could design a new custom home, framed out in any architectural style that you wanted, built to your exact specifications on a lot of your choosing?  What if you could live in a city that was semi-private, had a strong police presence, a low crime rate, that was only 10.2 miles from the Central Business District of New Orleans. Would this be an idea that would appeal to you?
Yes? Great!  Welcome to The Parks of Plaquemines, a gated, master planned community just 10.2 miles from the Central Business District of New Orleans.  Our new home subdivision has a country feel with a city flavor.  New homes being designed and built in this neighborhood have many different types of architecturally designs.  While all floorplans are subject to approval by our Architectural Committee, local builders are used to the building homes that appeal to an aesthetic New Orleans-styled home.  Our community has many Amenities including (but not limited to!) a swimming pool and tennis courts.  Because The Parks is located in Plaquemines Parish, you are not subject to the City of New Orleans and Orleans Parish tax rates.  Also, the Plaquemines Parish School District was just ranked 8th in the entire state of Louisiana, receiving an A performance score for the entire district.  This community offers a safe place to live, at a lower cost of living, with an incredible school district – what more could you want?

I know what you’re thinking…it’s New Orleans; it’s going to flood again from a massive hurricane.  Well, we are happy to report that The Parks of Plaquemines existed BEFORE Hurricane Katrina.  It did NOT flood during Katrina, and it has never flooded.  In fact, the subdivision was strategically developed on “high ground” that was just certified by the new FEMA flood maps to need minimal flood insurance in our community.  Currently, we are featuring Traditional Lots for Sale as well as the possibility of building a new, custom home of your dreams with one of our qualified builders.  Our subdivision features the best of both worlds – a close proximity to “playing” and working in New Orleans but living in a less expensive, safe community which also offers walking / biking trails within the community.  So, Come and Visit Us to Check Out Our Quickly Growing Community!  Call 504-364-2350 or E-mail Info@TheParksLifestyle.com to Schedule Your Tour.

Healthcare Grant Offered to Greater New Orleans Area

New Orleans, Louisiana, was one of three cities to receive an invitation to apply for up to $350,000 in grants from Humana. However, in addition to the city of New Orleans, non-profit businesses in the entire Greater New Orleans area including Orleans, Jefferson, St. John, St. Charles, St. Tammany, St. Bernard, St. James, Plaquemines, Washington, and Tangipahoa Parishes are eligible to apply. The grants are being offered to non-profit businesses and organizations in order to assist them in lowering the physical and financial hurdles for people trying to obtain care for diabetes and congestive heart failure. The program called the Humana Communities Benefit is being solicited by the Humana Foundation, a division of Humana, Inc. The two other cities selected were Ft. Lauderdale and Knoxville, TN.
In order for non-profit organizations to be successful during the application process, the Humana Foundation is offering services to applicants such as education seminars, a newsletter which covers standards and Frequently Asked Questions, an “e-mail hotline” which will handle all e-mail inquiries, and mentorship from former grant winners who will be able to give advice and guidance and answer questions that may not be covered in the application materials.

This healthcare grant is unique in that is specific to certain areas of the country each year, and it specifically covers two types of healthcare issues – diabetes and congestive heart conditions. New

Orleans, Louisiana, will soon benefit from the much anticipated opening of the University Medical Center which was developed and built on a footprint in downtown New Orleans which actually overtook entire neighborhoods and decades-old housing units and homes. With the addition of the opportunity to receive funding from a $350,000 grant, a non-profit medical company in New Orleans could soon be able to offer even more convenience and affordability to patients needing care for these particular diseases.

Businesses interested in applying for the grant must submit a letter of intent stating the following: how the money would be used and how their planned program would align with the goals of Humana Communities Benefit to increase accessibility of patients to care for diabetes and congestive heart failure. Letters of Intent will be accepted by Humana from May 2 – May 29, 2015 and applications are due by June 30^th.

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New Orleans Will Soon Feature Beachfront Property

The Greater New Orleans area may soon have not 1 but 3 new locations for locals and tourists alike to enjoy “a day at the beach” right on the banks of Lake Pontchartrain on the Southshore.  If developers, builders, and zoning ordinances work together efficiently New Orleans will soon feature beachfront property on the lake at the Treasure Chest Casino, near the airport at the original location of Pontchartrain Beach and in New Orleans East where Baily’s Riverboat Casino once stood.
The plans in Kenner are the newest brainchild of Mayor Yenni in Kenner, Louisiana for a resort-style area to be built on property adjacent to the Treasure Chest Casino.  Envisioning a “Destin-like” town atmosphere, Mayor Yenni

wants to build condos, a hotel, and boardwalks on 15 acres overlooking the lake.  The property in question was recently changed from a recreational zoning to a commercial zoning by working with lawmakers.  With investors from Dubai as well as right here in the Greater New Orleans area, construction on this new commercial development could begin by the end of the year.
Meanwhile, Pontchartrain Beach is set to open by the beginning of 2016, kind of a dull time of year to open a beach, but it will be ready for recreation and entertainment by the time the warm spring weather comes around.  A lease between the New Orleans Levee Board and the Lake Pontchartrain Basin Foundation will allow the beach to reopened as a beach and nature preserve.  Considering the number of people who may use the beach will dictate if more development may come in the future, possibly in the form of fair-like rides or even restaurants right on the water.  As with the development in Kenner, major planning should be made for hurricane protection by building whatever structures may go up high above the potential flooding of the lake.
These two new developments on New Orleans beaches come in conjunction with plans by Tipitina’s owner Roland von Kurnatowski and his business partner Eric George who are currently in negotiations to develop and construct a new water park and outdoor music venue on a 4.5-acre plot of land in New Orleans East.  New Orleans may soon have multiple locations to “hit the beach” right on our own shores without having to travel to the Gulf Coast.

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Five Ways to Think About the Rising Interest Rates

For those home buyers who have purchased a home before, navigating through the mortgage approval process once you have found your home for sale is a little bit easier than for someone who has never purchased a home before.  However, figuring out what the real estate market will do and when and how to buy a home at the right time, the right price, with the best interest rate has been a little like spinning the roulette wheel at the casino over the past 4.5 years.  Home buyers and refinancing homeowners have enjoyed phenomenal interest rates since the interest rate for a 30-year fixed mortgage dropped to 3.3% early in 2013.  This also pushed 10 and 15-year mortgages to as low as 2.5%.  Now there is fear because interest rates have risen by over a percentage point in 3 short months.  So, in order to give you all of the information you will need to make the best choice for you and your family in the home buying or refinancing process, below are 5 practical facts about interest rates, where they’re headed over the next year, and how to optimize your experience in today’s real estate market if you have not already had a chance to capitalize on these interest rates.

1. The Fed bond-buying program, especially the buying of mortgage securities, has kept interest rates at 100-year lows over the past 1.5 years.  Because of the stabilizing economy and the federal deficit, “all good things must come to an end.”  In other words, the Fed cannot continue to keep purchasing these bonds.  The buying must stop, and the economy must learn to survive on its own.  So, the 3.3% on a 30-year fixed will most likely be a thing of the past with perhaps, maybe a drop back down to this rate here and there in certain market conditions.  However, you, as a home buyer, must mentally allow yourself to still enjoy the current interest rate.  Right now, the interest rate for a 30-year fixed mortgage is around 4.5%.  Predictions state that it is not expected to rise above 5% at least until the end of 2014.  So, interest rates are still historically low, and they will make a home payment affordable.

2. If you purchased your home even in 2005, you may have enjoyed an interest rate of approximately 5.75%, so refinancing your home and incurring closing costs may not be the right move as interest rates go up.  However, if you are a homeowner who had a home which lost its value in the crash, you should definitely talk to your Realtor as to the current value of your home.  Home values have been on a steady rise, and most markets are reporting home pricing gains each month.  At least 850,000 homes gained back their value because of a stabilizing real estate market in the first quarter of this year.  So, refinancing this type of loan at these interest rates would still be a good idea.

3. Don’t panic just yet that rising interest rates will bring the housing recovery to a screeching halt.  While not ideal for either home buyers or builders, interest rates have to rise in order for the Fed to “stop the bleeding” of the government theoretically “bailing out” the housing industry by buying bonds.  It would take a rise of about 3% to see the housing market negatively impacted by rising interest rates.  Refinances and purchases may slow down slightly as the rate climbs, but once it stabilizes over a period of months, then people interested in buying a new or previously-owned home will have the confidence needed to do so.  At best, home buyers should take advantage of the rates now and go ahead and “take the plunge” to buy a home before rates go back up.

4. If you don’t know anything about financing a home, then you will want to make sure to ask your banker or lender about locking in your interest rate.  Typically, there is no charge to lock in at 45 or 60 days.  Refinancing a home used to take 6 – 12 weeks because of all of the new government regulations on loans, but that time period has been drastically reduced as banks and lenders have grown comfortable with the new system.  If the institution you are using to get your mortgage takes a long time to process loans, you should find out what the charge would be to lock in for a longer period of time – 90 – 120 days.  Have your loan officer crunch the numbers to see if it is in your best interest to pay for a rate lock to save money in interest over the life of the loan.  This is a service they should provide you.

5. Loan packages since the Recession have been greatly simplified because the interest free / pay later type of loans no longer exist.  However, there are still fixed-rate loans and the ARM (Adjustable Rate Mortgage) out there you will need to choose between.  If you have never had an ARM, or if this is the first time you are buying a home, the main thing to think about when it comes to getting the lower interest rate which an ARM offers is how long you are planning to own the home.  If your purchase is temporary because of your job or because you know you will be “upgrading” in a few years, then the shorter time period you plan on owning your home, the better idea it is to get an ARM.  ARM’s typically have a much lower interest rate and only allow an increase of 1% each year, while not letting the rate go higher than a stated high interest rate or “cap.”  Also, if rates go down, then so does your interest rate in some cases.  However, when you reach your “cap,” and you are still in your home at a higher interest rate, that is how you lose money and pay more interest with an ARM.  So, when choosing the loan which is right for you, consider the amount of time you will be staying.  If you plan on staying “forever,” you will want to go with a fixed-rate loan.

Be smart about interest rates, don’t panic; the housing market will still thrive at current market rates for quite some time.

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Thriving West Bank Community for New Home Construction

One of the many perks of living on the “high ground” of the Mississippi River is that the space to build new construction homes or business is very condensed and highly valued.  This is particularly seen by the inexhaustible amount of homes that have been built in the Greater New Orleans area.  Through a rich cultural history, New Orleans has seen its streetscapes and new home construction defined by German, Spanish, and French influences.  In a reflection of this construction development, neighborhoods in this productive city in Southeast Louisiana were also developed based on race, culture, income, and status.  The term French Creole architecture stems directly from the Creoles who established, occupied, and thrived in their own sector of the city of New Orleans on the East Bank of the Mississippi.

New Home Community
Not to be outdone, the West Bank of New Orleans also established an unprecedented and condensed development of new home construction as well as commercial and industrial construction in and around cities such as Terrytown, Gretna, Harvey, Marrero, and Westwego.  All of these productive cities seem to “hug” the crescent in the Mississippi River because the ground right next to the river is considered high ground.  This is the same reason that the French Quarter has never flooded after levees were installed on the Mississippi River – it is the highest ground in the city.  Another new home construction community on the West Bank of New Orleans, just outside of Gretna, Terrytown, and Algiers that has never flooded is the Parks of Plaquemines.  This master planned development features new, custom home construction with community amenities such as private streets, gated entrance, a park & trail system, a swimming pool, tennis court, and tot lot / playground.

Lower Cost to Live Close to New Orleans
In fact, this subdivision is a thriving west bank community for new home construction, and it only gets better.  New Orleans is known for having a high cost of livability.  In other words, being able to afford to buy a new home in New Orleans is challenging because of the high cost of land taxes, utility and sewer rents, and the cost of living in general.  The good news about the neighborhood Parks of Plaquemines is that this community is located a mere 10.2 miles from the Central Business District (CBD) in New Orleans, LA. This means that if you are working in a corporate location in downtown New Orleans, you only have to commute approximately 20 total miles to and from work while saving a huge amount of money on your cost of living expenses.

Lower to No Flood Risk
The subdivision itself just happens to sit on high ground near the river as well.  And, don’t just take our word for it,  once the new FEMA flood maps are adopted, the entire neighborhood will be taken completely out of the flood zone.  Plus, as mentioned earlier, the Parks of Plaquemines has never flooded, not even during Hurricane Katrina.  In addition to its amazing location and flood zone benefits, our community also is located in a parish which has a school district which was just ranked 8th highest in the entire state of Louisiana.  The parish achieved a enough points to move it from a B grade last year to an A grade this year.  The school’s 2014 annual district performance score was 104.8 overall out of 150 compared to a 95 last year.

So, if you are interested in owning your own little piece of high ground along the Mississippi River in New Orleans, Louisiana, you should definitely check out the Parks of Plaquemines, just minutes from all the city has to offer without the cost, flood risk, or expense of private education instead of utilizing the public school system for your kids. To take a tour of the new home construction continually being done at our subdivision, Visit the Parks of Plaquemines Today!  Call 504-364-2350 or E-mail Info@TheParksLifestyle.com.

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Construction and Development for Commercial and Retail Shops in New Orleans East

Residents of the West Bank may soon have something new to do on a summer afternoon in New Orleans, Louisiana, if Tipitina’s owner Roland von Kurnatowski and his business partner, Eric George have anything to say about it.  They are currently in negotiations to develop and construct a new water park and outdoor music venue on the 4.5-acre plot of land on Lake Pontchartrain in eastern New Orleans.  This acreage is where the Bally’s Riverboat Casino stood for many years before Hurricane Katrina forced it to close and move out of the state. The venue will not only sport the water park and outdoor amphitheater – designed to seat a 5,000 capacity – but there will also be construction and development for commercial and retail shops and venues on the west side of the proposed site.  At the south end of the lakefront development, there could be a two-story building with room for a community market downstairs and a restaurant on the second floor.



The construction project has been the brainchild of Studio Network-Lakefront LLC, which is the company created by Tipitina’s owner and Dr. Eric George, a prominent New Orleans orthopedic surgeon.  These men have a vested interest in the culture and heritage of New Orleans because they also purchased the Orpheum Theater last year and immediately began renovations on the structure to bring it back to its former glory.  They pledged to put a total of $13 million into that project.  Since construction on this building in New Orleans is moving along as scheduled, the Louisiana Philharmonic Orchestra has agreed to start performing there when the theater is completed later in the year.  So, complete renovations and seemingly impossible construction projects seems to be this pair’s forte, and New Orleans East’s lakeshore are will benefit from their expertise.

The history behind this 4.5-acre plot of lakefront land is that nothing was done to restore it once Hurricane Katrina destroyed it.  With the “separation of powers,” in 2010 which created an actual Levee Authority which would oversee all properties along the levees, the land was assessed as hopeless because of the cost of the taxes and the deterioration of the property.  Once this was realized, this and other properties were offered to the public for bids.  The only bid on this property was from Studio Network-Lakefront, LLC.  Their proposed project would be named Tipitina’s Festival Park and would include the following:

• An outdoor amphitheater with a 5,000 capacity
• A lazy river and splash park
• Water slides and zip lines
• A two-story, covered boardwalk with shops
• The conversion of the old riverboat terminal into an open-air market

Development and construction in New Orleans is always welcome especially after Hurricane Katrina, but it is enlightening and encouraging to have such an innovative concept introduced by Tipitina’s owner and his business partner who seem to have a soul-reaching interest in rebuilding and renovating New Orleans East on the lakefront of Lake Pontchartrain.

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