New Orleans CBD is Booming
The CBD in New Orleans has changed a great deal over the last decade. It used to be an area of parking garages and several car dealerships, but now it's a bustling real estate mecca for both residential and commercial clients. Most of the activity is near the St. Charles Avenue streetcar line or in the vicinity of the South Market District, which transformed the area between Baronne Street and Loyola Avenue. Within a few blocks of Lee Circle, hundreds of new rentals and condos are expected to hit the market surrounded by plenty of new retail space.
New developments are: The Garage, a 1950s era former Buick dealership, which is to have car elevators incorporated into the design; The Four Seasons Hotel, Two Saints, 730 Julia St., Odeon which will add 271 apartments and 12,000 feet of retail.
Real estate experts and developers see the flurry of construction as a sign that more people want to live in New Orleans' historic center, a trend with younger residents, second home buyers and other relocating from the suburbs. The largest demographic in the CBS are residents aged 18 to 34 according to the Data Center.