Potential New Development in Algiers Point

Algiers Point although part of New Orleans is located across the Mississippi River from the Crescent City. The unique historic neighborhood is connected to downtown by the Algiers Point-Canal Street Ferry. Home of jazz artists Kid Valentine and Papa Celestine, the neighborhood has much history. That’s why it is no surprise that there is interest in a potential 11 1/2 acre lot to be developed into residential and commercial use.

There is one drawback however that could detour the development of coming to fruition. The property is a contaminated site and has been study tested with three sets of environmental assessments over the past 14 years. The first assessment, all done under the state’s rules for redevelopment of contaminated sites, was in 2006 and found tires, fuel tanks and trash on the site. The ten borings done found a contaminated spot with levels of lead and diesel fuel that was too high to be used for residential development. Another test was done in 2011 and the soil tested did not have to be handled as hazardous waste. Forty-seven tons were removed and disposed of at the River Birch landfill in Waggaman. In 2012 it was once again tested and found okay but then in 2019, a new investigation revealed elevated levels of hydrocarbons and heavy metals.

The current owner, Algiers developer David B. Kaufman, wants to remove all of the contaminated soil. This includes diesel fuel remains, lead, arsenic, antimony and small amounts of other volatile organic materials. Luckily the contamination is found only in three different locations on the property.

In order for the property to be cleared, they will need to take approximately 300 cubic feet of soil from a 10-foot by 10-foot by 3-foot deep hole in all three locations. The Department of Environmental Quality initially approved the “voluntary remedial action plan” but will also take public concerns and questions under consideration.

Once the final approval goes through, the soil that will be collected from the three different locations and will be tested to determine if it needs to be disposed of as hazardous waste. If it does not, the soil will be disposed of at River Birch. It will take about 30 days to complete the process and final report. If all goes as planned, it will take about 15 days to prep the site, 5 days to remove the sole and the remaining time will be given to preparing the final report.

The property that sits between Opelousas and Thayer avenues and Eliza and Atlantic streets was a working part of the Southern Pacific Railroad. The 22-block-long railyard complex employed around 4,000 workers who built steam locomotives and other rail parts. During its operation, Southern Pacific locomotives and railcars were transported by a barge ferry from downtown New Orleans to Algiers. Once transported, they were reconnected before moving on to western states.

Kaufman wants to go ahead with the clean up so he will be able to sell to a developer. He has tried several times to sell the property but the deals have fallen through because of the contamination. There has been renewed interest in the site so the clean up is a must in order to sell.

“There are two new groups that are considering offers,” he said.

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Plaquemine Parks To Receive A Face Lift

Parks are an important part of any community. They are a great way for residents to enjoy the outdoors and come together. Plaquemines Parish has received the distinguished state Community Achievement Award that is given by the Louisiana Municipal Association to proceed with the parish’s park renovations.

So far, improvements are being made currently to three Plaquemine parks Fort Area Park, North Plaquemine Park and Herman Graham. New restrooms are being built and will hopefully be done in time for the summer. The new restrooms will include a separate facility for men and women. This phase is much needed as the restroom at Herman Graham Park is permanently closed because it is falling apart.

The restroom project is a part of the ” continuation of improvements at all city parks initiated under Mayor Edwin “Ed” Reeves Jr. and the Board of Selectmen, which also included extensive upgrades at City Park in 2017.”

“We have made a significant investment in improving all our parks in the last three years in hopes that residents will get outdoors and enjoy these recreational facilities,” Mayor Reeves said.

The Mayor is excited and says the renovations will make the parks among the best in this region. North Plaquemine Park and Herman Graham Park will boast new playgrounds, new basketball courts, landscaping and walkways. Fort Area Park, that was purchased in 2018, now has a new playground, fencing and all the land has been leveled and cleared of scrub trees. The park also has a basketball and restroom building currently under construction.

“We also have obtained more than $1.1 million in grant funds to build a levee-top walking and biking trail on the Mississippi River levee but are still awaiting one final agency approval to begin work. We are ready and anxious to begin,” he said. Hopefully, we can go out for bid on the first phase of that project this summer.”

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A New Mission For Dickie Brennan & Co.’s the Commissary

The Commissary, a new addition to Dickie Brennan & Co., has changed its focus since the COVID-19 outbreak has occurred. With the April 30th opening, the Commissary was to supply its own restaurants along with a market open to the public but with the recent shutdown, they are now supplying meals for home and meals for those that are in need.

“The whole picture for what’s in demand has changed, but we can still use this to provide the community with restaurant-quality food for home and help feed more people,” said Richard Brennan.

The plan now is to serve complete family-style meals for home. The selection will be rotating and will consist of signature dishes from their five restaurants Palace Cafe, Dickie Brennan’s Steakhouse, Bourbon House, Tableau and Acorn. There will also be a selection of DIY kits for home cooking for purchase.

The Commissary will offer free family meals to the company’s staff, other hospitality workers, musicians and others out of work. There will be a drive-thru where people can pick up the food for free. Dickie Brennan & Co. is able to provide these free meals with the help of contributions from Jim Beam and Baumer Foods.

“There was a different plan for this, but we felt the sooner we could open with what we have now, the better for everyone,” said Geordie Brower, a chef with Dickie Brennan & Co. and part of the next generation of the family behind it.

Located in the Lower Garden District, the original plan was to use the Commissary to prepare food for the five restaurants and later offer a market to the public. Some of the prep work done at the five restaurants kitchens will be done now at the Commissary. The market would offer the same foods as the restaurants use including steaks, seafood and charcuterie to desserts and prepared items (like soups and stocks). In the second phase, an in-house eatery and a bar would be added where patrons can eat and shop.

The building includes 7,000 square feet that was originally a garage off Tchoupitoulas Street at 634 Orange St. The massive space holds a glass-in butcher shop and dry-aging room. There is also a bakery, seafood handling areas, rotisserie ovens, wood-fired grills and huge kettles. Some of the equipment is repurposed from the other restaurants and is being directed by the family owners which include Brower, Matthew Pettus, Sara Brennan, a baker, and her brother Richard Brennan III.

“When we’re allowed to gather again and do all the things New Orleanians love to do, this will be a great place to come eat and drink and be together,” said Sara Brennan.

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A Spike in Listing Traffic in the Housing Market

The economy is questionable during current times but the traffic from home buyers is on the rise. According to Zillow, more buyers are actively looking for homes online than they were this time a year ago.

People all over the country are looking online for a home. Currently, the national total is up 13% year over year for the week ending April 13, 2020. Some metro areas have more viewer traffic than others. Thirty of the thirty-five largest metro areas have had high year-over-year web traffic to for-sale listings during the second week of April 2020.

Zillow.com explains is the methodology as follows, “All page view events of for-sale homes on Zillow.com and the Zillow app are tabulated by day and the listing’s ZIP code, and then aggregated today and MSA. Figures are presented as rolling 7-day trailing averages to smooth out daily noise. Pageviews exclude real estate agents and other professional users on Zillow. Year-over-year comparisons are done after offsetting 2019 data by 2 days, in order to compare the same days of the week, e.g. we compare Sunday, March 29, 2020, with Sunday, March 31, 2019. ”

This is good news for the housing market as we continue to be under shelter-in-place orders. Data shows that the highest levels are seen in Los Angeles, Houston, Dallas and Atlanta. The lowest levels currently seen are in Minneapolis, New York, Boston and San Francisco.

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Is the 2020 Housing Market Turning Into the 2008 Housing Market?

The Great Recession from 2008 brought hardship to the housing market. Many Americans were hit with financial hardships, lost homes and jobs. The Great Recession stemmed from the housing and mortgage crisis. Today, the housing market is under pressure with the economic slowdown from COVID-19. Although we are facing a challenge today, there are several differences between today’s housing market and the housing market in 2008.

The first difference we see is appreciation. In 2008 the years that led up to the crash had a higher appreciation than the years leading up to COVID-19. The highest level seen before COVID-19 was below the lowest level seen before the Great Recession.

Next, we see a difference in mortgage credit. Mortgage credit is based on the Mortgage Credit Availability Index which is a monthly measure put out by the Mortgage Bankers Association. The Mortgage Association will determine the level of difficulty to secure a loan. This means the higher the index, the easier it is to get a loan or the lower the index, the harder it is to secure a loan. Before the 2008 crash, the index was very high. Today, before the economic downturn the lending standards have been much more conservative.

Another difference seen before the crash is the number of homes for sale. In 2008 there was an overabundance of homes for sale throughout the country. In 2020 we do not have enough homes for sale. Currently, there are less than 6 months of inventory across the nation.

The use of home equity is also quite different. In 2008 many homeowners were cashing out the equity in their home, but today homeowners are being much more conservative with their home equity. Before the Great Recession, $824 billion was cashed out across the nation. Leading up to the pandemic, the total of home equity cashed out was $232 billion. Currently, 53.8% of homes have at least 50% equity while in 2008 homeowners owed more than what their home was worth.

The good news is that the housing market today is in a much more stable position during the health crisis. Hopefully, the housing market will help pull the country up from the current economic downturn.

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