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Downtown New Orleans Demographic Profile

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Downtown New Orleans Demographic Profile DOWNTOWN NEW ORLEANS DEMOGRAPHIC PROFILE OVERVIEW OF THE RETAIL, RESIDENTIAL, OFFICE & VISITOR MARKETS OF THE NEW ORLEANS DOWNTOWN DEVELOPMENT DISTRICT YOUR PARTNER FROM THE GROUND UP A p r i l 2 0 1 4 DOWNTOWN NEW ORLEANS An Opportunity for Investment :: Demographic Profile DOWNTOWN NEW ORLEANS TO DAY I N T H E I R Downtown is the celebrated and vibrant hub of a resurgent New Orleans and the engine of the O W N W O R D S region’s economy. With its culture of creativity, Downtown serves as a magnet for new “ C a n a l Industries of the Mind – biosciences, digital media and arts based businesses and represents Street isn’t one of the best retail and commercial opportunities in the United States. j u s t t h e heart of New Orleans, it’s a street with THE CENTER OF IT ALL a h e a r t . ” D i c k i e Downtown New Orleans has long been the economic, cultural and entertainment center for B r e n n a n , the region and a “must visit” destination for millions of tourists. As a residential, mixed-use, O w n e r , and retail center, Downtown is poised to explode. Consider the following: Palace Cafe • 5,100 residents live Downtown and pay among the highest rates per square foot for “ Y o u c a n residential apartments. f e e l t h e • Downtown is the largest employment center in the region with over 62,000 jobs. energy here. • 9.28 million annual travelers and visitors to Downtown for business/leisure. T h e Estimated daily population in Downtown is 142,764 persons. m o m e n t u m • h a s b e e n building and t h e o p p o r t u - n i t i e s a r e THE VISITOR AND CONVENTION MARKET r e a l . ” • 2013 visitor spending in New Orleans was $6.47 billion, the highest level of spending on Roger Ogden, record. Canal Place • 17.2% or 1.59 million of the total visitors in 2012 earn incomes of $150,000 plus. • Downtown is home to one of the top ten convention centers in the US, as well as seven “On behalf major museums and cultural attractions, including the National WWII Museum, Audubon o f t h e Aquarium of the Americas, Audubon Insectarium, and Ogden Museum of Art. ownership of t h e A s t o r • Downtown is home to 17,000 hotel rooms. C r o w n e • Downtown hosts 2.5 million fans annually at major sporting events. P l a z a , w e a r e c o n v i n c e d t h a t t h e Downtown New Orleans is home to 175 restaurants, 30 a r e a i s sidewalk cafes, 23 museums & galleries, an abundance of poised for historic architecture and provides an excellent opportunity exponential growth over for “signature” retail locations. t h e n e x t s e v e r a l Information in this report was provided by ESRI, GCR and Associates, New Orleans Tourism Marketing Corp. and the Downtown Development District. y e a r s . ” Adam Tegge, The Downtown Development District drives the development of V . P . , L o e b Downtown New Orleans and is a catalyst for a prosperous, P a r t n e r s R e a l t y stimulating and innovative heart of the Crescent City. DOWNTOWN NEW ORLEANS An Opportunity for Investment :: Demographic Profile THE NEIGHBORHOODS OF DOWNTOWN NEW ORLEANS I N T H E I R Downtown is comprised of a series of unique neighborhoods, each with its own spirit, attitude, O W N W O R D S and style. Whether a modern loft in the Central Business District or an urban Warehouse District condo is calling you home, there’s something for everyone. Downtown is made up of “ N e w the following neighborhoods: the Arts District, Biomedical District, Canal Street Historic Orleans is the perfect District, Central Business District, Lafayette Square, Picayune Place, Riverfront, Sports and city for me Entertainment District and the Warehouse District. because it a l l o w s m e work, play, e a t a n d PROFILE OF THE NEW ORLEANS RESIDENT c r e a t e i n • New Orleans’ core neighborhoods adjacent to Downtown earn a median family income of o n e contained, $62,961 annually. w a l k a b l e • The average household income of the Downtown resident is $89,000 annually. s p a c e . ” • Downtown is at the center of twelve neighborhoods that are home to almost 40,000 J e r e m y D a v e n p o r t , residents with a strong income and education profile. J a z z • Downtown is the logical retail and commercial center for Greater New Orleans which has a M u s i c i a n population of 1.2 million people. • Downtown’s population has doubled over the past 10 years, and planned residential development could further double the population in the next 10 years. “ W h a t e v e r Median family incomes comparable to that of Boston and Atlanta and higher than Houston, the reason • for being in Dallas, Phoenix and Denver. New Orleans now, there's an amazing RE TA I L OPPORTUNITY l e v e l o f • $1.9 billion retail sales leakage from Orleans Parish, according to data from ESRI. energy in a • New Orleans has major growth opportunities in the following categories: city chosen b y i t s Electronics and Appliances people. It's Clothing Stores, Department Stores and Specialty Retailers a v e r y General Merchandise and Grocery unusual and r e w a r d i n g s i t u a t i o n .“ M a u r i c e Downtown New Orleans is a walkable 1.2 square mile community R u f f i n , with 66 hotels, 200 retail shops and has benefited from $3.4 C o r p o r a t e A t t o r n e y , billion of investment since 2006. Krebs, Farley & P e l l e t e r i , LLC. The Downtown Development District drives the development of Downtown New Orleans and is a catalyst for a prosperous, stimulating and innovative heart of the Crescent City. CANAL STREET :: New Orleans An Opportunity for Investment :: The Retail Experience EXPERIENCE THE REBIRTH I N T H E I R The story of Canal Street’s return to glory is told through the retail renaissance that is O W N W O R D S underway today. Already a shopping destination for millions of people each year, Canal Street “ W e h a v e continues to see investment from large and small, national and local retailers. Here are just a t r u l y few of our assets and success stories: enjoyed our location on Canal Street A QUICK LOOK: CANAL STREET RETAIL the past 84 y e a r s a n d Saks Fifth Avenue Ann Taylor look forward t o b e i n g Tiffany & Co. BCBG MAXAZRIA here at least Anthropologie Armani Collezioni another 84 m o r e . ” Brooks Brothers Brennan’s Palace Café K e n n y Coach Allen Edmonds Rubenstein, T h i r d Rubenstein’s French Connection Generation Adler’s Jewelers Nine West O w n e r , The Art of Shaving C. Wonder Rubenstein’s “The Canal AND MORE TO COME … S t r e e t Demographically, New Orleans’ rebirth is indisputable. Downtown New Orleans, and Canal Development Strategy, a Street in particular, is at the center of the newfound energy and activity. In the coming years, s w e e p i n g Downtown will welcome two major medical centers representing $2 billion in investment, p l a n f o r 600+ new residences, live performing arts theatres and outdoor venues, additional green f u t u r e development space, 5-star hotels, art galleries, bioscience and technology incubators and much more. o n t h e street, has set the stage f o r t h e Recent demographic reports, together with the rebirth of expected influx of new investment, strongly this historic suggests that Downtown New Orleans indeed t o u r i s t m e c c a . ” represents a robust market and a compelling Gil Zanchi, opportunity for retail and commercial investment. Area General M a n a g e r , New Orleans M a r r i o t t Online :: downtownnola.com DOWNTOWN NEW ORLEANS An Opportunity for Investment :: 2004 vs 2012 Comparisons TOURISM AND ECONOMIC PROFILE “At A G l a n ce” 2013 – 2014 :: 9.28 million visitors annual :: 6.47 billion visitor spending :: 9,207,636 airport travelers :: 5,100 Downtown residents :: 37,000 hotel rooms :: 1.21 million residents (metro area) NEW ORLEANS FACTS AND STATS • New Orleans was founded in 1718 and will celebrate its tri-centennial in 2018. • Core industries in New Orleans include: petrochemical, law, bio-medical, digital media, film production, tourism, entrepreneurism and arts-based industries. • New Orleans was ranked number one by the Wall Street Journal as the Most Improved on “Best Cities for Business.” • New Orleans was ranked number one by Forbes as the Top City for Information Jobs in the U.S.
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