Farmer’s Market Located in the Bywater3819 Saint Claude Ave
New Orleans, LA 70117
Saturday Dates in May, 2016
May 7, 2016
May 14, 2016
May 21, 2016
May 28, 2016
10AM – 2PM
Call 504-872-9214 or Click Here for More Information.
129 Terry Pkwy.
Terrytown, LA 70056
Weekly in May, 2016
Monday – Saturday 8AM – 7PM
Call 504-363-0309, Email [email protected] or Click Here for More Information.
3700 Orleans Ave.
New Orleans, LA 70119
Thursday Dates in May, 2016
May 5, 2016
May 12, 2016
May 19, 2016
May 26, 2016
3PM – 7PM
The 5.5 acre lot that sits at 1917 Mirabeau Ave. in Gentilly which once housed an apartment complex will no longer sit vacant. Even though the land is now considered a green space, home to beautiful live oak trees, a unique development will take residence there in the near future.
Bastion, a nonprofit organization, and Renaissance Property Group plan to build a subdivision that will offer new housing for post 9/11 veterans. The project is estimated to cost $15.9 million with 70 percent of the housing
dedicated to affordable housing and 30 percent to rent at current rental rates. The partners presented the development to the New Orleans Industrial Development Board anticipating that they will receive a property tax break. The last part of their financing strategy includes low income housing tax credits, federal funds and private investment.
The new development will not only be for veterans, but will also be offered to 55 and older homebuyers. Dylan Tete, executive director of Bastion Group, states that, “the project is different from other veterans projects for a few reasons. It dedicates half of the housing units to veterans with combat experience in Iraq and Afghanistan, who now face a lifetime of physical and mental rehabilitation, such as traumatic brain injuries. The other half will be open to residents ages 55 and older willing to dedicate six hours each week to supporting their veteran neighbors — anything from helping kids with homework to driving a vet to a doctor’s appointment — a reciprocal connecting of generations.”
With interest rates as low as they have ever been, veterans will also benefit by buying a new home in this new development using a VA loan. VA loans make up a huge chunk of new mortgages and are available to active military, veterans, and students who have already served their military time in order to get a college degree. Near Gentilly on the West Bank is another new home community which offers low-maintenance housing for veterans and over 55 residents. The Parks of Plaquemines in Belle Chasse, Louisiana, has garden homes for sale and lots for garden homes for sale for home buyers interested in building their new home.
The new home development for veterans is set to be completed by mid-2017 and will be available just as the new Veterans Affairs hospital in Mid-City will begin to accept patients.
As the national employment rate has steadily been dropping because of increases in available jobs nationwide which have also been sporadically been increasing since 2012, jobs in the construction industry have reached a critical level. For once, this level is critical in a positive way instead of a negative one. The residential construction employment industry is lacking the manpower of subcontractors and employees to complete new homes being built.
Builders are happily trying to meet the new demand for housing, as there has been a decrease in availability of existing homes for sale. However, with a backlog of jobs available to be completed for qualified subcontractors,
builders are caught waiting for weeks, sometimes months to be able to finish homes ready for sale.
The National Association of Home Builders (NAHB) reported that the Bureau of Labor Statistics (BLS) showed an increase in the unemployment rate in March, 2016, because of employment available in the construction industry. However, the percentage increased because there were more potential employees in the labor pool than ever before because of the availability of these new jobs as well. It has not turned into an “employer’s market” as of yet, but with the availability of construction jobs, and the turnover of employment in the real estate industry, it may soon do so.
In February alone, 193,000 unfilled jobs in the construction industry were available for those looking for work, which is a record high for after the Recession. The estimates for March show an addition of 13,400 workers with an increase of 166,000 compared to March, 2015. All very good news for residential construction.
