More and more people are moving downtown to live, and along with that increased demand, prices continue to rise.
Among the many projects under way that are adding to the hosing stock include the $200 million South Market District with 600 units, the $20 million 100 Elk Place with 100 units, the luxury condos at 625 Notre Dame, the 80 unit Pythian Apartments on Loyola, the $20 million Granaio Lofts, and the mixed-use development at 628 Baronne Street.
According to an article in MyNewOrleans.com, apartment occupancy in downtown New Orleans is running at 95%. The article cites a few factors for the increase demand, including a tighter lending market that makes it harder to buy pushes people to rent.
Prices have also continued to rise, with sales of luxury condos at 625 Notre dame well above $600 per square foot.
You can read more about the trends and hear from experts Wade Ragas and Bobby Talbot at MyNewOrleans.com.