the levee

NY Times: Rental shortage in New Orleans continues

The NY  Times covers the rental shortage in New Orleans.  While the take-away is that it is unfortunate that rental rates have increased by 46% over pre-Katrina levels, it should be remembered, as the article states, that this situation exists because "demand is outpacing supply."

So, people want to live in New Orleans, but are constrained by high rental rates.  This is far preferable to a city that no one wants to live in with an oversupply of cheap housing (see Buffalo).  We can solve a shortage (theoretically), we wouldn't be able to solve an oversupply.  This is a positive, and we'll all just need to be patient while development and rehabilitation of affordable housing occurs.

Inspector General's office to be fully funded

Good news on the corruption front, as the City Council endorsed funding the newly-created Inspector General's office, which is headed by Robert Cerasoli.  The council supported Cerasoli's full request of $3.2 million.

Transparency and accountability will be key to New Orleans' future, so this is an important first step.  Combined with the recent indictments and elections, it almost seems like the tide is turning in New Orleans, if only a little.

Weekend / AM News :: Development Edition

The Governor of LA and Mayor Nagin are searching for a way to keep the DA's office running.  That doesn't mean they've necessarily spoken however.

Developers Angelo Farrell and Lee Laporte, in addition to renovating the existing Astor Hotel building on Royal Street in the French Quarter, are building a new 26-story, 259-foot tower on an adjacent site, which will house what sounds like 107 condominium-hotel units.  Construction is set to begin in early 2008, with completion scheduled for late 2009.  While this part of the Quarter is scattered with several 'mid-rises,' I believe this will be the tallest building in the neighborhood.  This development raises similar questions to that of the Tracage, though I'll withhold judgment until renderings of the new tower are made public. 

Are Victory Real Estate's plans for Mid-City on hold?  Speculation abounds, but no real answers.  Hopefully this doesn't disrupt the plans for the new Massey's near the Victory site.

KB Homes is scrapping future plans for New Orleans. 

The National League of Cities will meet in New Orleans this week.  The 3,500-member delegation will include mayors, police chiefs, and city council members from all points of the country.  Hopefully they can teach our own mayor, police chief, and city council one or two things about city governance (you have to smile at the headline: "U.S. mayors see N.O. as living lesson."  No kidding.)

The $3 billion Road Home bailout passed on Thursday.

Two New Orleans theaters are slated to be acquired and redeveloped.  The team behind the plan, Broadway South, LLC president Roger Wilson and local developer Neal Hixon, have put the Joy Theatre and State Palace Theater under option, and are in "ongoing negotiations" for Saenger and Orpheum theaters.  Wilson hopes to build a theater district in New Orleans centered around the Canal Street theaters, though he has said that he won't move forward unless he can get control of all four properties.

Dillard University breaks ground on a new academic building. 

The St. Charles streetcar is back, and is now running from Canal Street to Napoleon Avenue.  In related news, St. Charles was named one of the country's 'Best Streets' by American Planning Association, in recognition of the "role it has played as an icon of Southern style and charm, and its contributions to the cultural traditions of New Orleans."