New Whole Foods coming, time to buy?

[Austin Sherman]

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?

[Timmy Perez]

Look up Venice Ca it use to be called ghost town because nobody would go out after dark because it was to dangerous. Whole foods moves in Gentrification starts to kicks in full affect.

[Dyna J.]

Do you know when the scheduled completion date is for the hospital? How close are other hospitals? Will this hospital have a specialty (cancer research, stroke, etc)?

Whole Foods coming in is definately a good sign and the new hospital will create a lot of jobs. Are there any other projects planned for this community?

[Mattaniah Yip]

Hello guys! I know this is an old post so sorry for chiming in 11 months later.

I just joined BP and looked up where Whole Foods is developing new stores and New Orleans piqued my interest.

I'm curious on anyone's thoughts in this area. Has anyone done any investing?

M