Quote:
Originally Posted by ardecila
To some extent, the resurgence in the city is caused by the white elite and middle class of the region re-centralizing in the city. The young lawyers, accountants, teachers, etc are all now choosing to live in the historic city when previously they would have found a house in Kenner, Algiers or Slidell. That's great for historic preservation, but offers no net gain for the metro as a whole.
As austlar noted, many of the newcomers to the city are here for quality of life first and employment second. That's why the startup rate is so high - people are entrepreneurial and they'll find a way to make money so they can stay. Similar phenomena occur in desirable beach towns and college towns, but New Orleans has a vastly more robust infrastructure, so hopefully some of those startups can scale and grow to create more jobs in their own right to build the economic base.
Between the native elite class and the young newcomers, the historic city may indeed fully gentrify at the expense of the suburbs. Gentrifiers don't typically occupy buildings at the same densities as those they replace, so a smaller population of gentrifiers is able to occupy more of the city. Given the ridiculous barriers to new construction in New Orleans, I don't think that's a solution either once the vacant land runs out.
One possible avenue for growth is retirees... the suburban wet dream of a ranch house on a Florida golf course is quickly losing its luster. NOLA offers a much richer set of amenities, plus the ability for retirees to scale back on driving as their faculties diminish.
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I have a very good friend who is now 70 years old and residing in SF with his 60 y/o partner. My 70 y/o friend is a native of New Orleans and has family in the city. He is very familiar with New Orleans. He is about to retire and owns a home now in the Sunset District of SF that he could sell and cash in with considerable equity. He constantly explores the idea of moving back to New Orleans, but so far he has balked at doing so. His reasoning is that he does not want to live in the Quarter or the warehouse district. He wants a small house with a nice garden in a safe part of town where he would not have to drive to market for groceries or other errands. He is able to do all those things at his present home in SF, and he got rid of his car a few years ago. Also, if he sells his SF home, he wants to invest most of that SF equity for income. He is up against the fact that unless he decides to live in the Quarter or possibly in other parts of the CBD, he can't safely exist without driving a car. Bywater, Bayou St. John/Esplanade/City Park, and most of Uptown can be quite dangerous for elderly pedestrians because of opportunistic street crime which unfortunately happens far too often in New Orleans. These neighborhoods outside of downtown are charming in appearance, but they are all mostly lacking in convenient clusters of decent food markets and other amenities. Most people living in those neighborhoods drive on a daily basis and most households own one or more cars. Also, those areas have become extremely pricey (actually they have always been rather expensive due to the fact that they are on slightly higher ground and have long housed the New Orleans elite and professional classes), so he would have to sink a lot of his SF equity into an outright home purchase, if he wants to avoid a mortgage or rent. New Orleans still holds a lot of appeal for him, and I expect that he will eventually figure out a way to live there in his old age. Still, I don't think that New Orleans is going to be a huge magnet for retirees. I think in many ways it could be a very difficult place for old people due to crime, cost, and climate.