Rental demand in metro New Orleans area soars to new heights
Fox 8 news recently interviewed local real estate professionals about demand for New Orleans downtown apartments. Click the link below to see the interview with Larry G. Schedler Multifamily Real Estate Broker and Multifamily Developer Marcel Wisznia http://www.fox8live.com/clip/10358347/rental-demand-in-metro-area-soars-to-new-heights
NOLA apartment market sustains high occupancy, rents
By Greg LaRose – May 23, 2014 The latest seasonal report on apartment occupancy shows renters have absorbed nearly all the available inventory in almost every corner of the New Orleans market. That’s allowing landlords to keep lease rates at an all-time high. The spring edition of the Greater New Orleans Multi-Family Report keeps tabs […]
The Esplanade at City Park apartments sold to Florida investors for $53.5 million
By Katherine Sayre 12/19/2013 The Esplanade at City Park, a landmark apartment building overlooking Bayou St. John, recently sold to a Florida investment firm for $53.5 million. Financing for the deal was announced this week by real estate finance group Walker & Dunlop, a national firm with a New Orleans office. Priderock Capital Partners, based […]
New Orleans complex sells for $54.5 million
NEW ORLEANS — A month after an Atlanta company bought the American Can complex in Mid-City, a Florida investment group has sealed the deal on another major apartment development in the same area. Conveyance records show Priderock Capital Partners of West Palm Beach purchased the 441-unit Esplanade at City Park for $54.5 million. The deal closed […]
New Orleans Multifamily: Downtown, St. Tammany Hotspots for Development in New Orleans
10/14/2013 There is a buzz about New Orleans — no longer are only locals singing the virtues of this great American city. In fact, Forbes rated New Orleans the fastest-growing city since the recession in 2013, Bloomberg describes the Crescent City as “Boomtown,” CNN Money rated Louisiana as one of the most entrepreneurial states and […]
Rebirth of the Big Easy
By Eliza Theiss, Associate Editor 10/09/2013 Lately it seems that all eyes are on New Orleans (NOLA). All but washed away just eight years ago when Hurricane Katrina submerged 80 percent of the city, NOLA is showing healthy market indicators. National retailers such as Costco and Walmart are moving to the city. Hotel occupancy has […]
Developers see apartment potential in CBD office space
With office space occupancy continuing to trend down in the Central Business District, real estate analysts say the city should expect to see additional apartment development downtown as demand for urban living continues to stay strong. The belief is that New Orleans is following a growing national trend in which more residents are returning to […]
More than 500 apartment units planned for north Covington
The Covington City Council will soon be asked to annex 18 acres of land along the city’s northern fringe to clear the way for construction of a 288-unit apartment complex, a development that would add to a mini-boom in what had been a countrified section of St. Tammany Parish. To be called the Reagan Crossing Apartments, the […]
Warehouse District historical renovation targets New Orleanians willing to pay top rents
A Warehouse District building where Jefferson Davis was embalmed and, more recently, French Market coffee was roasted is being renovated into one of the most expensive apartment rental properties in the city. Developers hope to lure residents willing to pay $6,000 per month, part of a rapidly expanding apartment market in and around the Central […]
New Orleans area apartment rents, occupancy rates continue to rise
In a trend drawing attention from national investors, the New Orleans area apartment market continues to see rising average rents and occupancy rates, according to a report by local analysts in the multi-family housing industry. Algiers saw the biggest recent uptick in rents and lived-in units, while New Orleans’ historic core neighborhoods and St. Tammany […]