On February 21, ULI Louisiana hosted its annual Emerging Trends forum to discuss ongoing real estate trends, market challenges, and key innovations for the future of commercial development. The team at 30|90 Marketing takes notes and shares our quick guide to the content shared over four sessions. (Event Graphics provide by 30|90 Marketing)
Key Takeaways from the Panel: Breaking Barriers – Overcoming Challenges to Affordable Housing in Louisiana
Moderator: Andre Lewis (VPG Construction)
Panelists: Ryan Herringshaw (Providence Community Housing), Michelle Whetteen (Enterprise Community Partners), J. Daniels (East Baton Rouge Parish Housing Authority), David Miller (Renaissance Property Group)
Impact of Rising Insurance Costs on Development
Increased insurance costs are making new construction financially unsustainable, with developers struggling to secure the necessary capital.
The builder’s risk market is extremely limited in Louisiana, forcing developers to take on additional risk.
Existing affordable housing developments face a greater threat, as underwriting models cannot keep up with 25%+ annual insurance cost increases.
Policy Changes Affecting Affordable Housing
Federal-level changes include the Affordable Housing Credit Improvement Act, expected to pass soon.
Locally in New Orleans, voter-approved Affordable Housing Trust Funds provide new funding opportunities.
A lack of understanding among state legislators about affordable housing financing poses a challenge to policy implementation.
Statewide and Local Market Barriers
Other states, like Texas and Florida, attract national developers due to bank-driven CRA demand and strong migration trends.
Louisiana's negative migration pattern hinders private sector investment.
CDBG funds for affordable housing recovery take years to be allocated, delaying new developments.
The Importance of Advocacy for Affordable Housing
Preservation of existing affordable housing should be a top priority to prevent the loss of thousands of homes.
The current funding model is imbalanced, prioritizing new construction over preserving and improving existing properties.
Small-scale landlords with mom-and-pop rental properties should be supported to maintain and reintroduce affordable housing stock.
Affordable Housing as an Economic Imperative
Without quality affordable housing, workforce stability is at risk across all industries.
Businesses must advocate for housing solutions to sustain economic growth.
The private and public sectors must collaborate to close funding gaps and accelerate project timelines.
Key Takeaways from the Panel: Insuring Louisiana’s Future – Navigating Risk, Resilience, and Climate Change
Moderator: Camille Manning-Broome (Center for Planning Excellence)
Panelists: Kevin Madden (Aon), Charles Sutcliffe (National Wildlife Federation), Shawn Barney (CLB Porter), Liz Russell (Environmental Defense Fund)
The Need for Coordinated Action at All Levels
Addressing risk and resilience requires collaboration between state, local, and industry stakeholders to close coverage gaps and improve policies.
Stronger building codes, such as the Fortified Roof Program, are positive steps but will take time to impact communities.
The Ripple Effect of Population Migration
Climate change and economic pressures are driving migration out of Louisiana, impacting tax bases, school closures, and infrastructure sustainability.
Coastal restoration policies are crucial for the long-term survival of communities, requiring continuous investment and advocacy.
Challenges in Development and Affordable Housing
Real estate development, particularly affordable housing, faces systemic challenges requiring policy-level engagement from developers.
Without sustainable development, tax revenue, school funding, and infrastructure investment suffer, creating a cycle of economic decline.
Strategies for Risk Mitigation and Future Development
Industry players must go beyond pricing risk and actively advocate for policies that ensure long-term insurability and resilience.
Developers should explore adaptive reuse and preservation strategies to maintain existing properties and mitigate operating cost challenges.
The Role of Advocacy and Innovation in Louisiana’s Future
Stakeholders must engage in policymaking to drive systemic change and prevent reactive decision-making.
Louisiana has a unique opportunity for innovation in resilience and risk management, positioning itself as a leader in sustainable development solutions.
Key Takeaways from the Panel: The Intersection of Hospitality & Tourism Driving Economic Success in South Louisiana
Moderator: Mark Romig (New Orleans & Company)
Panelists: Elaine Williams (Ernest N. Morial Convention Center), Curtis Doucette (Iris Development), Robert LeBlanc (LeBlanc + Smith)
The Power of Authentic and Evolving Experiences
To sustain tourism, New Orleans must constantly innovate, much like Disney, by offering new experiences, restaurants, and attractions.
Travelers are drawn to authentic, off-the-beaten-path experiences, reinforcing the importance of preserving cultural legacy while marketing the city as a whole.
Economic Impact of Hospitality Developments
Strategic hospitality projects revitalize neighborhoods and attract visitors to unexpected areas, proving that culture and business can thrive together.
Investments in workforce development and training create opportunities for hospitality employees to build transferable skills for long-term career growth.
Adapting to Changing Traveler Preferences
Modern tourists seek neighborhood-based, immersive experiences, benefiting small businesses and local entrepreneurs.
Visitors increasingly want to leave an impact through meaningful engagement, such as donating to local causes or supporting community initiatives.
Development with Cultural Sensitivity
Respecting and honoring cultural heritage is key to sustainable development—hospitality and culture should work in concert, not opposition.
The next wave of legacy business transitions presents an opportunity for developers to invest in historic restaurants, music venues, and bars, ensuring these institutions endure.
Overcoming Development Resistance in Tourism
There is growing tension between tourism-driven development and housing affordability, requiring sensitive and thoughtful development approaches.
The industry can soften opposition by prioritizing fair wages, community investment, and responsible business practices to build trust with residents.
Key Takeaways from the Lunch Keynote: Reimagining Louisiana’s Downtowns – Challenges, Strategies, and Impact
Moderator: Melissa Lee (Public Works Partners)
Panelists: Rene Pastorek (New Orleans Development District) Kevin Blanchard (Downtown Lafayette Unlimited), Whitney Hoffman Sayal (Baton Rouge Downtown Development District)
Balancing Cultural Identity with Redevelopment
Maintaining walkability, public spaces, and cultural assets is crucial for preserving a downtown’s character.
Initiatives like the French Doors project and cultural activation plans help integrate heritage into redevelopment efforts.
Ensuring Small Businesses and Residents Aren’t Pushed Out
Policies like restorative urbanism and infill development help mitigate the negative effects of growth on existing communities.
Transportation access and affordability are essential for equitable downtown development, supported by initiatives like the Downtown Affordability Act.
Innovations in Urban Design for Resilience
Green spaces, stormwater management, and transportation corridors are key investments in downtown sustainability.
Mixed-use developments, like the River District project, enhance livability by attracting more residents and businesses.
The Shifting Landscape of Downtown Work & Living
Downtowns are seeing increased demand for residential space, with some cities doubling their housing inventory.
The return-to-office trend has revived commercial activity, but there remains a pressing need for more housing downtown.
Long-Term Planning and Development Strategy
Successful redevelopment requires broadband investment, strong leadership, and clear, long-term planning.
Strict zoning codes in smaller markets require careful project selection and efficient approval processes to maximize impact with limited opportunities.
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