Infrastructure Improvements Pay Off for Investors
Investment in transportation and recreation in Mid-City is paying off for property owners, with continued increases in property values appearing likely for those considering making a purchase in the neighborhood. After four months, construction of the Regional Transit Authority’s Cemeteries Transfer Center Project at Canal Street and City Park Avenue is complete. The intersection reopened to motorists at the end of last year and buses and streetcars began using their new stops north of City Park Avenue in January 2018.
Completion of the project promises advantages for motorists, pedestrians, and bicyclists, as well as for transit riders. New traffic and pedestrian signals along with new pavement and repaired sidewalks allow for safer walking and driving within the intersection.
These advantages can be expected to add even more to increasing property values in the Mid-City neighborhood, which is bounded by Broad, Orleans, and City Park avenues, St. Louis Street and the interstate. The Cemeteries Transfer Center marks the corner of one of the most thriving sections of the Mid-City real estate market, centered on Bienville Avenue between City Park Avenue and North Carrollton Avenue. The median listing price in this area ranges from $454,500 to $479,500.
Another thriving section of Mid-City real estate is close to the Lafitte Greenway; this section centers on Toulouse Street between North Carrollton Avenue and Bayou St. John. The median listing price in this area is $464,000, Trulia reports.
The greenway is not just a recreation resource, but a thriving transportation corridor. In 2015, its first full year of use, 272,000 walked or bicycled the greenway, according to a study by the Georgia Institute of Technology. The study found that 80 percent of those using the greenway on weekday mornings and afternoons were traveling to or from work, school, and shopping.
The greenway is a key element of the city’s Blue Bikes bicycle-sharing program, which launched last December. Of the first 70 Blue Bikes locations, five are along the greenway, at North Carrollton Avenue, North Jefferson Davis Parkway, North Galvez Street, North Roman Street, and Basin Street.
A guided tour of the greenway’s amenities and stormwater features will be offered from 10:30 a.m. to noon Saturday, March 10, beginning at Lemann Playground, 628 N. Claiborne Ave., New Orleans. After the tour, there will be a block party at Second Line Brewing, 433 N. Bernadotte St., with live music, food trucks, and educational presentations. To register for the tour, visit http://www.lafittegreenway.org/hike2018.
A tour focusing on the trees of the greenway will be held from 2 p.m. to 3:30 p.m. Saturday, March 24, also beginning at Lemann Playground. The leader of the tour will be landscape architect Susannah Bridges-Burley, founder and director of Sustaining Our Urban Landscape. To register for the tree tour, visit http://www.lafittegreenway.org/treeswalk.
Low Crime Rate
Just a few blocks from the hot spots mentioned above, real estate bargains are available in Mid-City. The comparatively low prices do not come at the cost of security, however. Aside from a few blocks near Tulane Avenue, Mid-City is a relatively safe section of New Orleans. The most frequent crimes in Mid-City in the past year were theft, 657 counts; assault, 480 counts; vandalism, 245 counts; and burglary, 117 counts.
In New Orleans, each neighborhood has characteristics that can vary vastly from those of its adjacent areas, and even those of its past. Picking the area that fits your lifestyle and personality best could be tricky, so consider enlisting the help of an experienced real estate expert to navigate all your options and come up with the right fit.