It's hard to believe, but it's now been nearly three years since the devastating Hurricane Katrina hit New Orleans. The city has more than 390 building projects in various degrees of completion through its Rethink, Renew, Revive campaign. An interactive map and comprehensive web site help keep interested parties abreast of the current progress of recovery.
Residential real estate continues to perform at robust levels, particularly in the condominium ranks. NewOrleansCondoTrends.com is one of many Realtor-based websites that is touting various conversions in the downtown area under progress. Eric Bouler, blogger of the site and an 8-year sales veteran of Prudential Gardner, Realtors, says, "The New Orleans Warehouse District is the place to be if you are looking for a downtown condo or a loft. The prices in the area have been solid for the past 5 years and have been level since Katrina in the fall of 2005."
The Warehouse District is "the city's revitalized Arts District ... [and gives] travelers yet another reason to come to the Crescent City. This historic neighborhood -- filled with amazing art galleries, fine restaurants, and world-class museums, has gone from bustling, to abandoned, and back to becoming the center of attention once again," according to NewOrleansOnline.com.
Condo prices are up 15 percent in the first quarter 2008 to the same period last year, according to the National Association of Realtors, with the average sales price weighing in at more than $170,000.