Downtown Development District of New Orleans DOWNTOWN NEW ORLEANS 201 Saint Charles Avenue, Suite 3912 • New Orleans, LA 70170 504.561.8927 • downtownnola.com Twitter: @DDDNewOrleans • Instagram: DDDNewOrleans DEMOGRAPHIC PROFILE Facebook: facebook.com/downtownNOLA APRIL 2018 April 1, 2018 On behalf of our Board of Commissioners and Downtown stake holders, I would like to welcome you to Downtown New Orleans. The Downtown Development District of New Orleans has compiled their annual demographic profile and an overview of statistics that defines the unique collection of neighborhoods that make up Downtown. We are excited that you are interested in exploring the opportunities in this wonderful part of the city. Downtown’s redevelopment progress is impressive, with $7 billion in private investment over 10 years and the addition of major projects and retailers such as South Market, the Outlet Collection at Riverwalk, Neiman Marcus, Tiffany and Co, True Religion, MAC and Arhaus. In 2018, we are especially proud to see the opening of the new JUNG Hotel and the commencement of construction on the new Four Seasons Hotel, the Hard Rock Hotel and Residences, the new Sazerac Museum. As always, the DDD is eager to work with our partners to build on these successes. We continuously strive to improve quality of life Downtown. In addition to our cleaning and public safety programs, we are actively working to bring new word-class ammenities to Downtown. Notably, we are working to redevelop Duncan Park in the city’s civic center and to expand our successful efforts to reduce homelessness. We hope you find this packet helpful in addressing your questions and needs. I personally encourage you to stay up on the latest Downtown news by signing up for the DDD newsletter, following us on Twitter and Instagram, and liking us on Facebook. We look forward to working with you. Best Regards, Kurt M. Weigle President & CEO Downtown Development District of New Orleans DOWNTOWN THE NEIGHBORHOODS NEW ORLEANS TODAY OF DOWNTOWN Downtown has been the commercial and residential Downtown is a collection of neighborhoods, each with heart of New Orleans for most its 300 years. In its own spirit, attitude, and style. Whether a modern flat the past decade, Downtown has had an explosion in the Central Business District or an urban Warehouse of new activity: new apartments and condos, District condo is calling you home, there’s something for expanded museums, new hotels, renovated theatres, everyone. Each of our neighborhoods — Lafayette Square, unprecedented retail expansion and a revitalized Warehouse District, Canal Street Historic District, Central Mercedes Benz Superdome and Morial Convenion Business District, Arts District, Gravier-Common, South Center. There has never been a more exciting time to Market, Picayune Place, Riverfront, Sports & Entertainment live in, work in or visit Downtown New Orleans. District and the Medical District — contribute to the variety and richness of Downtown. 8,928,318 17,740,000 $7 SQUARE FEET OF MILLION VISITORS BILLION OF INVESTMENT CLASS A OFFICE ANNUALLY SINCE 2005 23 6,775 59 MUSEUMS AND APARTMENTS SIDEWALK ART GALLERIES AND CONDOS CAFES 175 RESTAURANTS 142,764 241 RESIDENTS, WORKERS RETAILER AND BARS AND VISITORS DAILY STORES 7 20,355 5 PARKS AND HOTEL ROOMS STREETCAR LINES SQUARES Downtown New Orleans is a walkable 1.2 square mile collection of neighborhoods 23 3 that has benefited from significant investment and redevelopment since 2005. BUS LINES PROFILE OF DOWNTOWN’S POPULATION Downtown New Orleans has long been the economic, cultural and entertainment center for the region and a must-visit destination for millions of tourists. In addition to serving as the hub for hospitality, office and retail, Downtown has become a major residential neighborhood. DOWNTOWN BY THE NUMBERS • Greater New Orleans population: 1,253,300. • The regional market, which includes Lake Charles LA, Lafayette, LA Baton Rouge, LA, Jackson MS, Biloxi-Gulfport, MS, Mobile, AL and Pensacola, FL has a combined population of 5,000,000 people located within two hours of New Orleans. • Estimated daily population in Downtown is 142,764 persons. • The average household income of the Downtown resident is $89,000 annually. • Downtown is the largest employment center in the region with over 62,000 jobs. • Downtown is at the center of twelve neighborhoods that are home to almost 40,000 residents with a strong income and education profile. • 6,775 residential apartments and condos in Downtown, commanding the highest rates per square foot for residential units. HOSPITALITY AND CONVENTION INDUSTRY • 17,740,000 million people visited Downtown New Orleans for business and leisure in 2017, the highest visitor count on record and an increase of 5.7% compared to 2016. • 2017 visitor spending was $8.7 billion, the highest level of spending on record. • Downtown is home to the Morial Convention Center - one of the top ten convention centers in the US - as well as seven major museums and cultural attractions, including The National WWII Museum, Audubon Aquarium of the Americas, Audubon Insectarium, and Ogden Museum of Art. • Downtown is home to 20,355 hotel rooms. • In 2017, Louis Armstrong International Airport served 12,009,512 passengers, an all-time record and the 7th consecutive year of continued passenger growth. • New Orleans international air connections continue to grow. In 2017, British Airways began a direct flight from London to New Orleans and Condor Airlines began a seasonal direct flight from Frankfurt, Germany to New Orleans. DOWNTOWN NEW ORLEANS RETAIL Downtown offers a number of locations for retail growth. The Outlet Collection at Riverwalk and Canal Place serve as hubs for the retail community. South Market District has transformed an entire section of Downtown, adjacent to the Sports and Entertainment District. The story of Canal Street’s return to glory is told through the retail renaissance that is underway today. Already a shopping destination for millions of people each year, Canal Street continues to see investment from large and small, national and local retailers. In the past two years, Canal Street has attracted national brands including, True Religion, MAC Cosmetics and Fogo de Chao, among others. 5 DOWNTOWN PEDESTRIAN STATISTICS The Downtown Development District instituted a new technology to count pedestrians beginning in 2016. The organization is currently tracking pedestrians on Canal and Poydras Streets and in South Market District. Here is a summary of daily and monthly pedestrian counts at major intersections during the first three months of 2018: ASTOR HOTEL, January 2018 Canal Street @ Bourbon Street 24,105 weekday 34,624 Saturdays 674,926 monthly RUBENSTEINS, February 2018 Canal Street @ St Charles Avenue 13,731 weekday 19,553 Saturdays 425,649 monthly HARRAH’S CASINO NEW ORLEANS, March 2018 Canal Street @ Tchoupitoulas Street 6,553 weekday 9,548 Saturdays 203,129 monthly CANAL PLACE, January 2018 Canal Street @ North Peters 9,538 weekday 12,726 Saturdays 295,670 monthly SOUTH MARKET DISTRICT, February 2018 Girod Street @ O’Keefe Street 3,505 weekday 4,463 Saturday 98,226 monthly PAN AMERICAN LIFE CENTER, March 2018 Poydras Street @ St. Charles Avenue 2,173 weekday 2,111 Saturdays 67,355 monthly DOWNTOWN NEW ORLEANS OFFICE MARKET 2018 CLASS A OFFICE 87.60% occupied $19.26 rent average (per square foot) 8,928,318 total leasable square feet 2018 CLASS B OFFICE 59.37% occupied $16.27 rent average (per square foot) 1,670,240 total leasable square feet TOP OFFICE TOWERS OCCUPANCY RANKED BY TOTAL LEASABLE SQUARE FEET: 1. One Shell Square 92% 1,256,991 SF 2. Place St Charles 91% 1,004,484 SF 3. Energy Centre 90% 761,500 SF 4. Pan-American Life Center 85% 671,833 SF 5. One Canal Place 83% 630,581 SF 6. Regions Center/400 Poydras 85% 608,608 SF 7. First Bank & Trust Tower 85% 545,157 SF 8. Benson Tower 97% 540,208 SF 9. 1515 Poydras Building 65% 529,474 SF 10. One Poydras Plaza 97% 526,041 SF MAJOR NEW ORLEANS CORPORATIONS: Adams and Reese KPMG Barker Donelson LUCID Caesar’s Entertainment McGlinchey Stafford Canal Barge McIlhenny Corporation Capital One Ochsner Health System DXC Technology Pan American Life Center Entergy Peter A Mayer Advertising Ernst and Young Phelps Dunbar Fidelity Bank Royal Dutch/SHELL First NBC Bank Superior Energy Services, Inc. Game Loft Tidewater HRI Properties Tulane Medical School Iberia Bank Whitney Bank Iberia Bank GE Capital Jones Walker 7 DOWNTOWN RESIDENTIAL STATISTICS Downtown New Orleans offers a robust residential market. Over the past 25 years, Downtown has become a dynamic collection of residential neighborhoods, offering an impressive collection of restaurants, retail, galleries and entertainment. Downtown has become one of the fastest growing residential neighborhoods in Metropolitan New Orleans and boasts some of the highest occupancy rates and prices per square foot. Total Number of Residential Units in Downtown New Orleans(Includes both apartments and condominiums), 6,775 APARTMENTS: Average Cost Per Square Foot, $1.94 RECENT APARTMENT DEVELOPMENTS: The Hibernia The Howard The Saratoga The Giani Building The Maritime Four Winds The Beacon (under construction) The Strand Gallier Court 800 Magazine Elk Place Paramount at South Market The Pythian CONDOMINIUMS: Average Price, $489,000 Average Size, 1,070 square feet Average Price Per Square Foot, $457 MAJOR DEVELOPMENTS: One River Place 425 Notre Dame 625 St. Charles Magazine Place Federal Fibre Mills The Bakery Cotton Mills The Henderson 1201 Canal Condos 700 South Peters Residences Union Lofts 734 Union Residences The Standard DOWNTOWN DEVELOPMENT DISTRICT RESIDENTIAL PROJECTS 1. 334 Carondelet, 33 units 2. 925 Common, 108 units 3. 450 J.C. Chase, 31 units 4. 1201 Canal, 233 units 5. 200 Carondelet, 190 units 6. 621 Canal, 4 units 7. 1039 Constance, 9 units 8. 835 Julia, 23 units 9. 930 Poydras, 250 units 10.