{"id":12138,"date":"2015-01-29T05:00:30","date_gmt":"2015-01-29T13:00:30","guid":{"rendered":"http:\/\/www.yardi.com\/blog\/?p=12138"},"modified":"2020-12-24T03:00:43","modified_gmt":"2020-12-24T11:00:43","slug":"honoring-the-big-easy","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/honoring-the-big-easy\/","title":{"rendered":"Creating Community"},"content":{"rendered":"
\"Matt
Matt Schwartz, The Domain Cos.<\/figcaption><\/figure>\n

Nowadays it seems like everybody wants a piece of prime bayou real estate. Some have just landed in the Crescent City. Others have yet to arrive, but are sure to come on down. And there are those who have been here since the early days of rebuilding after The Storm. One is The Domain Cos<\/a>., a ten-year-old real estate company active in both the established New York real estate market, as well as in up-and-coming New Orleans.<\/p>\n

Today we continue our two-part story about a company committed to creating sustainable communities that connect to the fabric of their city. One great example is The South Market District, a $250 million, five-phase, mixed-use, green, luxury project and the city\u2019s first transit-oriented development.<\/p>\n

Encompassing almost four city blocks,\u00a0it would be easy to assume that The South Market District is another homogenous monolith development. This couldn\u2019t be further from the truth. As Matt Schwartz told The Balance Sheet<\/em>, South Market was designed by a variety of architects to look like it came together organically.<\/p>\n

\u201cIn an effort to promote the sense of place throughout the district, we added unique features to each building to encourage activity and socialization. \u00a0For example, The Park will feature downtown\u2019s first new public plaza in decades (Ed. occupying 2,200 square feet). The Paramount is set back from the street at the center to allow for more sidewalk dining, and The Beacon features a wide staircase off the sidewalk that\u2019s accessible to the public, reminiscent of historic European buildings. \u00a0Furthermore, as a unique example of newly constructed multifamily in downtown, our product offers design, finishes and layouts superior to anything else currently in the market.\u00a0\u201c<\/p>\n

Another element that allowed for South Market to differentiate itself from other projects was the possibility of reconfiguring Girod Street, which runs through the district. To increase walkability and maximize exposure for retailers, Domain closed a traffic lane on Girod Street and widened the sidewalk from seven feet to 20. The company also changed the zoning to allow the many sidewalk cafes to extend their operating hours.<\/p>\n

Furthermore, while large-scale, mixed-use developments in urban areas generally start with a place-making concept, that is not the case with the District. As Schwartz puts it, \u201cin New Orleans, the \u2018place\u2019 has already been made and continues to evolve.\u00a0 Everywhere you turn you are confronted with the city\u2019s rich history and culture.\u201d<\/p>\n

While Domain looked to honor the city\u2019s history, it also kept an eye on the future. Keeping in line with Domain\u2019s development mantra of maximizing green features, South Market\u2019s \u201coverall strategy and design is founded in \u201cSmart Growth\u201d principals, including walkable communities, community connections and transportation proximity\u201d Schwartz declared.\u00a0\u201cThe Paramount is targeted for LEED Silver certification and The Park includes features such as electric car charging stations, car sharing and bike sharing.\u201d<\/p>\n

Up the Great River<\/strong><\/p>\n

\"The
The High Grove, image courtesy The Domain Cos.<\/figcaption><\/figure>\n

Domain\u2019s commitment to green growth and quality living is also evident in The High Grove<\/a>, the first LEED Silver-certified luxury apartment project in Baton Rouge, La. The $28 million, 192-unit project opened a year ago in The Grove TND to supply the market\u2019s appetite for Class A multifamily, while also offering 25,330 square feet pf high-end retail space.<\/p>\n

\u201cThe Baton Rouge market has also seen significant economic development post -Katrina. \u00a0The State Capitol, LSU, major healthcare facilities, a major port system and a strong foundation in energy and engineering help to form a solid economic base,\u201d the Domain principal explained, adding that \u201cthe area has benefited as of late from a significant amount of industrial and manufacturing investment in the immediately surrounding parishes.\u00a0 Despite the market\u2019s strength, we saw a dearth of high-quality Class A multifamily product, particularly within the mixed-use environments that we create.\u201d<\/p>\n

As the premier product in the Baton Rouge market and thanks to its instant success, Domain has started a second development adjacent to The High Grove. Dubbed The Addison<\/a>, it will feature 109 apartments, 30 townhomes and 7,500 square feet of retail. Just like The High Grove, The Addison will target \u201chigh caliber\u201d retail tenants, top-of-the-market finishes and a bevy of green features.<\/p>\n

Long-term commitment<\/strong><\/p>\n

Domain views itself as privileged to actively partake in moving forward New Orleans.<\/p>\n

\u201cOur work following Katrina kept us very close to the New Orleans community, enabling us to see how the city was evolving and recognize the opportunity for a development such as South Market,\u201d Schwartz said.\u00a0\u201cIn addition to our development work, we are active with most economic development groups and participate on the boards of a variety of non-profit and community organizations (Liberty’s Kitchen<\/a>), for example). \u00a0We are invested in this community for the long term, which shapes how we look at every development or initiative we undertake.\u00a0We pursue developments that have a lasting positive impact on our communities and improve the lives and livelihoods of those that live and work there.\u00a0 We are passionate about the cities in which we work and challenge ourselves to continually find ways to make those communities stronger. \u00a0Our team is passionate about their work and our neighborhoods \u201c<\/p>\n

Check out Multi-Housing News and <\/em>Commercial Property Executive<\/em><\/a> for further Domain Cos. coverage, To read Part One of this post, click here<\/a>.
\n<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Nowadays it seems like everybody wants a piece of prime bayou real estate. Some have just landed in the Crescent City. Others have yet to arrive, but are sure to come on down. And there are those who have been here since the early days of rebuilding after The Storm. One is The Domain Cos., […]<\/p>\n","protected":false},"author":442,"featured_media":12502,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,3354],"tags":[116],"class_list":["post-12138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-people","category-team-yardi","tag-yardi-client-profile"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"Nowadays it seems like everybody wants a piece of prime bayou real estate. Some have just landed in the Crescent City. 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