Current Opportunities In New Orleans Commercial Real Estate
Currently the trend in New Orleans commercial real estate is to use tax credits to build apartments which fills the void of affordable housing; however, this trend is peaking since land is impossible to find under $20/SF in already populated areas. With the estimated population of New Orleans MSA now exceeding 1,000,000, I believe opportunities still exist in these areas:
- Personal Storage sites.
- Retail near the new Huey P. Long bridge.
- Retail strip centers near newly constructed apartment buildings.
- Land speculation in New Orleans East.
Many developments which seemed feasible when planned no longer appear worthwhile, and the developers of high-end condominiums in New Orleans after Katrina have forgotten there was little market for this product before Katrina. If you are looking for opportunities in commercial real estate, here are a few research reports which provide solid information: