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New Orleans Main Street Resilience Plan

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New Orleans Main Street Resilience Plan New Orleans Main Street Resilience Plan Appendix A: MARKET ANALYSIS Main Street Resilience Plan Market Analysis Table of Contents I. Introduction ............................................................................................................................................................................ 4 A. Why a Market Analysis?................................................................................................................................................... 4 B. Approach and Methodology ............................................................................................................................................. 4 II. Citywide Overview and Summary ......................................................................................................................................... 6 A. Population ........................................................................................................................................................................ 6 B. Job Growth ....................................................................................................................................................................... 8 C. Public investments ........................................................................................................................................................... 8 D. Commercial and Retail Trends ........................................................................................................................................ 9 E. Housing Trends .............................................................................................................................................................. 11 F. Stakeholder Feedback ................................................................................................................................................... 14 G. Summary of Citywide Findings ...................................................................................................................................... 15 III. O.C. Haley Boulevard ........................................................................................................................................................ 16 A. Corridor Assessment ..................................................................................................................................................... 16 B. Market Potential ............................................................................................................................................................. 22 C. Summary: Corridor Opportunities and Challenges ........................................................................................................ 24 IV. Newton Street .................................................................................................................................................................... 25 A. Corridor Assessment ..................................................................................................................................................... 25 B. Market Potential ............................................................................................................................................................. 28 C. Corridor Opportunities and Challenges .......................................................................................................................... 31 V. Broad Street ....................................................................................................................................................................... 32 A. Corridor Assessment ..................................................................................................................................................... 32 B. Market Potential ............................................................................................................................................................. 37 C. Corridor Opportunities and Challenges .......................................................................................................................... 39 VI. St. Claude Avenue ............................................................................................................................................................ 40 A. Corridor Assessment ..................................................................................................................................................... 40 B. Market Potential ............................................................................................................................................................. 45 C. Corridor Opportunities and Challenges .......................................................................................................................... 47 VII. St. Bernard Avenue .......................................................................................................................................................... 48 A. Corridor Assessment ..................................................................................................................................................... 48 B. Market Potential ............................................................................................................................................................. 53 C. Summary: Corridor Opportunities and Challenges ........................................................................................................ 55 VIII. Alcee Fortier Boulevard ................................................................................................................................................... 56 A. Corridor Assessment ..................................................................................................................................................... 56 B. Market Potential ............................................................................................................................................................. 60 C. Summary: Corridor Opportunities and Challenges ........................................................................................................ 63 A-1 Main Street Resilience Plan Market Analysis List of Figures Figure 1: Orleans Parish Population and Growth Rate ............................................................................................................. 6 Figure 2: Neighborhood Household Recovery Rates, 2005-2014 ............................................................................................ 7 Figure 3: Neighborhood Household Growth Rates, 2010-2014 ................................................................................................ 7 Figure 4: Employers and Employees, Orleans Parish .............................................................................................................. 8 Figure 5: Orleans Parish Projected Sales Leakage by Retail Category, 2015 .......................................................................... 9 Figure 6: Orleans Parish Commercial Real Estate Sales and Average Price per Square Foot .............................................. 10 Figure 7: Average Single Family Home Sale Price ................................................................................................................. 11 Figure 8: Average Condominium Sale Price ........................................................................................................................... 11 Figure 9: 2009 Home Sales (below) and 20014 Home Sales (bottom)- Prices per Square Foot ............................................ 12 Figure 10: Change in Rental Occupancy ................................................................................................................................ 13 Figure 11: Change in Apartment Rents .................................................................................................................................. 13 Figure 12: O.C. Haley Boulevard Corridor Study Area ........................................................................................................... 16 Figure 13: O.C. Haley Boulevard Establishments by Year Started ......................................................................................... 18 Figure 14: O.C. Haley Boulevard Map of St. Bernard Avenue Convenience, Comparison and Regional Trade Areas .......... 22 Figure 15: O.C. Haley Boulevard Retail Sales Leakage ......................................................................................................... 23 Figure 16: Newton Street Corridor Study Area ....................................................................................................................... 25 Figure 17: Newton Street Establishments Map ....................................................................................................................... 25 Figure 18: Newton Street Map of St. Bernard Avenue Convenience, Comparison and Regional Trade Areas ...................... 28 Figure 19: Broad Street Corridor Study Area .......................................................................................................................... 32 Figure 20: Broad Street Establishments Map ......................................................................................................................... 33 Figure 21: Broad Street Map of St. Bernard Avenue Convenience, Comparison and Regional Trade Areas
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