So as this blog starts to mature and we try to touch upon all facets of "cultcha" in the great city of New Orleans, I decided that imparting some measure of the experiences I have had thus far and hopefully help people that need direction, or perhaps are scared by the real estate process. I will also put together some posts on renovations, which is very important because in NOLA there are very few houses that don't need some kind of work.
The second part of this series deals with a little introspection on the part of the purchaser. New Orleans more than many places is a city of neighborhoods, in many ways, I think, even more now than before Katrina. As more and more, historic commercial areas are stimulated back into regular commerce it really begs a question, "What do I want out of my neighborhood?". Let's take a look at few neighborhoods and what they offer to perspective homeowners (or renters really).
French Quarter - For many new to the city o New Orleans the French Quarter (or Vieux Carre) is the ultimate neighborhood. It is the epicenter for nightlife in the city, at least for tourists and travelers, and has more packed into it 60 or so square blocks than many cities have within their entire municipality. There are approximately 100 restaurants in the "Quarter" and at least as many bars. In fact using a unscientific measurement, I estimate that there are at least 50 bars just on Bourbon Street in the first eight blocks ending at St. Ann. For many people moving to town, the Quarter IS New Orleans and why would anyone choose to live elsewhere. In fact, there are many residents of the downtown neighborhoods who refuse to cross Canal Street mirroring the historic divide between French and American New Orleans in the years following the Louisiana Purchase.
In addition to the being the "face" of New Orleans, the Quarter is the most expensive address in the city. Most of the properties sell for in excess of $500 per square foot, by far the highest in the city, and comps are not even close (the warehouse district averages less than $300 per sqft). In addition, to the high cost the size of living spaces are often modest, some times falling as low as 150 square feet, though to be honest these "apartments' are often no more than converted hotel rooms with small kitchenettes. These spaces mostly appeal to the weekend travellers, though if you consider the city to be your living room they are quite cozy.
There are a litany of services available in the Quarter in addition to the entertainment options. Hardware stores, banks, pharmacies, and groceries abound, though everything is a much more abbreviated scale in keeping with the smaller footprint of the orginal buildings. There might not be a better shopping area in the city, because of the sheer concentration of shops there and with a health dose of the French Market thrown in for inexpensive impulse buys.
The Quarter does have a large measure of disadvantages to counter everything it offers. In a area predating the automobile by almost two hundred years there is a decided lack of available parking. Noise levels in the entertainment areas are almost always elevated in keeping with the 24 hour nature of the area. Tourists and their insistence on taking full advantage of every kind of vice available can be tiresome, but realistically if you choose to live in the French Quarter these things will be no surprise.
As an alternative
The Treme offers access to the Quarter and all of its amenities without many of the drawbacks (though also without much of the architecture that makes the Quater unique as well). The prices are on the order of half that of its neighbor and a person can actually own a whole building without a multi-thousand dollar mortgage payment each month. With the advent of street car construction on Rampart avenue and the redevelopment of the Iberville development, the Treme stands to be the recipient of a good deal of re-examination as a desireable neighborhood and the budget real estate seekers are likely to move to the 7th ward just down the block, but for now the Treme is the budget winner for this area.