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Updated almost 11 years ago, 01/16/2014

User Stats

4
Posts
2
Votes
Austin Sherman
  • New Orleans, LA
2
Votes |
4
Posts

New Whole Foods coming, time to buy?

Austin Sherman
  • New Orleans, LA
Posted

A new Whole Foods was recently announced in a neighborhood surrounded by blighted and vacant properties. Two unit houses can be had for 40-60k which can be rent ready or need some type of repair. What's more interesting is an article was released today giving more specifics for the project, stating WF will only occupy 25k sf in space, and the remaining 40k dedicated to community involvement, training in cooking healthy with test kitchens, and so on. Thoughts? I've never heard of WF coming to a low income area.

http://www.nola.com/business/index.ssf/2013/02/developer_reveals_more_details.html

These properties cash flow already, but keep in mind with a headache awaiting given the current economic fabric of the neighborhood. Is it possible gentrification is on its way? Or by Whole Foods recieveing 1M in grants saying the complex will be a new version of WF going after a different demographic? It's also necessary to say, a 2 Billion dollar hospital is under construction just a few blocks from here, so that should bolster the community as well. Certain parts of New Orleans are experiencing a boom, it could be this one next. Thoughts?

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