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THE BUSINESS NEWSPAPER OF METROPOLITAN NEW ORLEANS NOVEMBER 16-22, 2012

Drive TimeRESTAURANTS REACT AS FOOD TRUCKSPUSH FOR OVERHAUL OF CITY RULES

neworleanscitybusiness.com

PAGE 9

Taylor Jackson, who operates theEmpanada Intifada

food truck, wants tochange city regulationsso he can set up shop indowntown New Orleans.

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Local lawyers, courtrooms move slowly to digital

PAGE 23

FOCUS: TechnologyA history of the alt-fuel fiasco

PAGE 5

FLEX FLUX

By Robin Shannon Staff Writer

[email protected]

IN THE MONTHs following HurricaneKatrina and the failure of the levee sys-tem, out-of-state contractors fromthroughout the country descended onthe New Orleans area to get in on theplethora of construction jobs coming outof the destruction.

Seven years removed from the storm,several contractors remain in the regionas the region continues to enjoy a con-struction boon thanks to the influx offederal recovery funds that stands incontrast to other areas of the countrystill struggling to overcome the floun-dering economy.

The crowded market has made it astruggle for local contractors, as they havehad to compete with out-of-towners toland work. Even as the construction sec-tor has shown signs of life in their originalmarkets, outside firms have decided tosettle in and established themselves inNew Orleans.

“Over the last three years, our suc-cess rate has been lower and lower,”said Freddy Yoder, president of DurrHeavy Construction. “People are goingto gravitate to where the money is, andthere are a lot of contractors here feed-ing off of the jobs that continue to comefor this region.”

The competition has created a marketin which winning bids for projects aredropping, making it harder for some localfirms to obtain those jobs, Yoder said.The environment has made contractors

By Ben Myers Staff Writer

[email protected]

DEVELOPERS Joseph Stebbins andPierre Walker invoke quantum theorywhen asked how they recognize a gooddeal on decaying properties.

It’s like Schrodinger’s Cat, they say,referring to a hypothetical scenario thatErwin Schrodinger devised in 1935 inwhich a cat is placed in a box with poi-son, creating uncertainty over the its fate.

Stebbins and Walker eagerly inter-rupt each other while attempting toexplain Schrodinger’s cat, and its rela-tionship to real estate,until they finally over-lap in unison.

“It’s neither deador alive until you viewit,” they said simulta-neously.

That was theirmentality at a Nov. 8auction of surplusOrleans Parish School Board proper-ties. They didn’t necessarily expect tocome away with four properties, butthat’s what happened. Each will requireseveral years of community-involvedplanning, maintenance, restoration and,finally, a return to commerce.

That’s assuming the school boardapproves two properties — the AlgiersBus Barn and a vacant lot in Gentilly —Stebbins and Walker purchased for afraction of their appraised values. Theyalso acquired the Morris F.X. Jeff

Developerssee promisein OPSBproperties

See CONTRACTORS, page 19 See OPSB , page 18

Contractors still feel thepressure fromoutside firmsLocal companies report theyoften pass up projects becausebid amounts eliminate profits

Their plans aren’t firm for the4 sites they acquired, but theysay each has hidden potential

INSIDECCNO’SFOUR

PURCHASES

PAGE 18

WE SPENT THE PAST 20 YEARS BUILDING A REPUTATION.

New Orleans CityBusiness November 16-22, 2012 3www.neworleanscitybusiness.com

Visit our website atwww.neworleanscitybusiness.com

INSIDECityBits . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8Dining Out: Midway Pizza . . . . . . . . . . . . . 11Business Dashboard . . . . . . . . . . . . . . . . . 13Real Estate Records . . . . . . . . . . . . . . . . . 14Bank Notes . . . . . . . . . . . . . . . . . . . . . . . . 16Opinion . . . . . . . . . . . . . . . . . . . . . . . . . . . 20Editor’s Notes . . . . . . . . . . . . . . . . . . . . . . 21Construction Central . . . . . . . . . . . . . . . . . 22Focus: Technology . . . . . . . . . . . . . . . . . . . 23List: Printers . . . . . . . . . . . . . . . . . . . . . . . 25Focus: Tourism . . . . . . . . . . . . . . . . . . . . . 26Around Town . . . . . . . . . . . . . . . . . . . . . . . 28Legal Notices . . . . . . . . . . . . . . . . . . . . . . . 30Classifieds . . . . . . . . . . . . . . . . . . . . . . . . . 32

Follow usGet breaking local business news via twitter.com/City_Business or join ourLinkedIn group or Facebook page at facebook.com/NewOrleansCityBusiness.

You’re the storyReprints, plaques and PDFs are a great way to market your company andshare accomplishments with family and colleagues. Call Jaclyn Meith at(504) 293-9229 for more information.

Agree? Disagree?Our columnists tend to be opinionated. If you’re all worked up after readingan Opinion piece or Editor’s Notes, write a letter to the editor. No more than400 words please email [email protected].

What happened: The expanded Theatres at CanalPlace made its debut Nov. 9, adding 180 seats to theexisting 300 just in time for the local premier of“Skyfall,” latest installment of the James Bond saga.

What’s next:No commitmentsare likely in theshort run, butdevelopers haveto aware of thesuccess of CanalPlace and note that there are no other multi-screentheater options available in New Orleans city limits.

What happened:Hostess Inc., maker ofTwinkies, Ding Dongs and Wonder Bread,announced Monday thatit was permanently closing three of its bakeries following a nationwidestrike by its bakers union.

What’s next: Reports are unconfirmed at thispoint, but word is Colorado is now rethinking its vote tolegalize marijuana.

— Greg LaRose

What happened: Afterthe final military ballots werecounted, the proposal toextend tolls on the CrescentCity Connection gainedapproval by a mere 16 votesout of the more than308,000 total cast.

What’s next: The Jefferson Business Council, ledby Leon Giorgio, was instrumental in garnering publicsupport for the measure. Expect the group to follow upto ensure toll-generated proceeds are spent more efficiently than in years past

HITSQUICK

Analyzing the week’s top news and what you can expect to happen next

... or at least what we hope to see happen

4 New Orleans CityBusiness November 16-22, 2012www.neworleanscitybusiness.com

NOWMORE THANEVERneworleanscitybusiness.com


By Jennifer Larino Staff Writer

[email protected]

THOSE STILL WAITING for the state tomake a final decision on the fate of its alter-native fuels incentive may be able to look tothe state of Arizona for a clue on how thecontroversy will pan out.

Initially set to cost $200,000 per year,

Louisiana could now beon the hook to pay asmuch as $400 million inback tax credits throughthe alternative fuel taxcredit program after theLouisiana Department ofRevenue extended itsreach in April to includeflex-fuel vehicles, which can run on gaso-line or ethanol. The tax credit, introducedin 2009, refunds the cost of an alternativefuel vehicle up to $3,000.

Arizona found itself in a similar situationwith its own version of the alternative fuelexcise tax credit in April 2000 after lawmak-

ers there attempted toencourage use of the cred-it, allowing residentslump-sum tax refundsequal to about half theprice of a new vehiclecapable of running onpropane, natural gas orelectricity. Residents start-

ed adding propane fuel tanks and otheralternative fuel components to new trucksand cars to take advantage of the deal thatsummer. Within months Arizona facedmore than $600 million in paymentsthrough a program that was expected tocost $10 million.

Arizona put a moratorium on the pro-gram in October 2000 and byDecember, then Arizona Gov. Jane Hulland the legislature had retroactivelyremoved its major incentives and cappedbenefits at $140 million for those whopurchased vehicles.

In Louisiana, Gov. Bobby Jindal frozethe alternative fuel program and refundsfor flex-fuel vehicles June 14. The stateRevenue Department has pitched newrules that would weed flex-fuel vehiclesout of the program, which are set to gointo effect Dec. 20, but has yet to decide

Ernest Shallo throws an air conditioner ruinedin Hurricane Sandy onto a pile of debris infront of a small home in Seaside Heights, N.J.Insurance professionals say events such asSandy impact coverage rates globally.

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Citizens’ commercial rate increase stirs private insurance market

STORM SURGEBy Jennifer Larino

Staff Writer [email protected]

THE AVERAGE RATE FOR commercial propertycoverage with the state-backed insurer of last resortis set to jump 45 percent in February, a hit that islikely to reshape the New Orleans insurance marketas some of the 5,700 affected policyholders startshopping for alternatives.

The 2013 rate change, approved by the

Louisiana Citizens Property Insurance Corp. boardNov. 8, comes as the company finds itself $56 mil-lion in the red. It also marks the largest commercialrate increase in its 10-year history.

With the additional money, Citizens looks to buyadditional reinsurance to cover itself in the case ofanother catastrophic storm.

Marc Eagan, president of Eagan InsuranceAgency in Metairie, said the double-digit increase

See STORM SURGE, page 7

Louisiana has OK'd $400Min alternative fuel tax creditsafter budgeting $200K a year

See FLEX FUEL , page 6

Ariz. could provide path to state’s flex fuel quandary$400 millionBack tax credits Louisianacould be forced to pay if forcedto honor an alternative fuelsprogram it extended in April toinclude rebates for people whobought flex-fuel vehicles.

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if and how it will pay hundreds ofrefunds filed by individuals and busi-nesses after the June cut-off date.

New Orleans area CPAs ushering theirclients through the process say the stateappears to be bound by law to honor thosecredits filed for flex-fuel cars and trucksthis summer. But many expect the matterto land in court.

If Arizona’s history is any indication,that could very well be the case. Arizonafaced a wave of class action suits after the2000 alternative fuel fiasco, with more thanplaintiffs seeking more than $1.2 billion inpayments by January 2002.

Ultimately, the class action suits fizzledout. A Maricopa County Superior Courtjudge threw out most of a lawsuit filedagainst the state on behalf of consumerswho purchased alternative fuel vehicles inearly 2003. A separate judge in the samecourt threw out a class-action suit filed on

FLEX FUELcontinued from page 5

behalf of individual auto dealers, auto con-verters, salespeople and other merchantsthat would have benefitted from the credit.

Arizona residents now look back on thedebacle as a costly lesson on pushing legis-lation out of the door too quickly.

Jerry Schreiber, a partner at NewOrleans accounting firm Schreiber &Schreiber, said he is advising clients towait and see what approach Louisiana will

take with the tax credit before taking legalaction. Schreiber thinks state lawmakershave the same lessons to learn as Arizonaleaders did a decade ago.

“It goes deeper than this in that the leg-islature writes these laws that can’t beadministered properly,” Schreiber said.“When they say they want to rewrite theLouisiana tax code, things like this need tobe fixed first.”•

“When they say they want to rewrite the Louisiana tax code, things like this need to be fixed first.”

J E R R Y S C H R E I B E R

accountant

Gov. Bobby Jindal placed a moratorium on the state's alternative fuel tax credit in June after it was expanded in April to include purchases of flex fuel vehicles. The state hasissued $400 million in credits since launching the program in 2009.

6 New Orleans CityBusiness November 16-22, 2012


will hit a number of clients hard andunderscores a need for Citizens to spendmore time studying its rates. But he saidthe increase is necessary, bringing rates inline with the rest of the market and ensur-ing the company has enough money tocontinue offering its policyholders aninsurance option.

“When Citizens was formed the intentwas that it would be the market of lastresort, meaning that an insurance agent orbroker would only go to Citizens and placetheir client there if they had very little alter-natives elsewhere in the marketplace,”Eagan said. “The rates ought to be reflec-tive of that.”

State law mandates Citizens set its ratesat least 10 percent more than the highestpremiums private insurers charge to keepthe company from competing with the pri-vate market. In recent years, rates have heldsteady even as insurers willing to under-write commercial property in the NewOrleans market dwindled after HurricaneKatrina in 2005.

Today, Citizens has 5,659 commercialproperty insurance policyholders, large-ly based in the New Orleans area andsouth Louisiana, down from 8,460 in2007. Most of the policies cover windand hail damage only, which includeshurricane damage.

Eagan said the Citizens increase meansthe rate that a number of carriers now offerlocally will be competitive, and businessowners should take another look at theiroptions in 2013.

But some New Orleans-area commercialinsurers are skeptical that alternatives will bewidely available. The group willing to writecommercial wind and hail policies in theNew Orleans area is still small, and anincreasingly global insurance market meansstorms in other parts of the world impacthow many policies are written in Louisiana.

Bumpy Triche, New Orleans-area presi-dent with Arthur J. Gallagher & Co., saidit’s still unclear what impact HurricaneSandy, which hit the East Coast two weeksago, will change insurer willingness to takeon policies in storm-prone areas. Earlyestimates peg the total insured losses fromSandy at $10 billion to $20 billion.

Triche said there will always be aninsurance market for large commercialproperty, coverage for a $250 million portfacility, for example. But significant eventslike Sandy continue to limit options forsmall businesses.

“It’s the pizza shop down the street, the

daiquiri shop, the smaller businesses thatare located in an area that they can’t find thestandard market property insurance,”Triche said, adding many will raisedeductibles or cut liability coverage to makeup for higher property insurance costs.

Randy Maddox, president of MorrisonInsurance Agency Inc. in Metairie, said theCitizens rate increase was long overdue,adding that business owners who can findeven a slightly higher rate on the voluntarymarket might do so to escape the compa-ny’s troubled claims history.

Citizens has paid more than $100 mil-lion so far to settle with policyholders whosued over the slow adjustment of claimsafter hurricanes Katrina and Rita.

Either way, Maddox said propertyinsurance costs limit what business ownerscan afford to spend on other coverageneeds. Property, auto and liability insur-ances are must-haves, a reason he expectssome business owners may start taking asecond look at umbrella liability insurance,which protects assets and future incomeabove and beyond all other policies.

“If the property insurance increase is sub-stantial, then they may say ‘You know what,I’ll just cut back on my umbrella insuranceor I won’t buy it at all,’” Maddox said.

That decision could hit certain industriesharder, including the oil and gas service busi-ness. Maddox noted small service compa-nies are often required to hold up to $5 mil-lion in umbrella coverage to work with majoroil companies such as BP or Chevron.

Eagan said 2013’s steep commercial rateincrease should be a cue for Citizens to getserious about studying and altering its ratesmore frequently, possibly hiring an outsideactuarial firm to help. He said Citizenscould have worked to distribute rateincreases over past years, but the decisionto do so has been a political hot potato.

“They have to make sure that they areproperly rated, and they have to do thatfrequently so that they can stay current andstart trying to run the thing like an insur-ance company,” he said. “We need to stopthe shock and awe that we just saw.”•

STORM SURGE continued from page 5

“It’s the pizza shop down the street, the daiquiri shop,

the smaller businesses that ... can’t find the standard market

property insurance.”B U M P Y T R I C H E

area president

Arthur J. Gallagher & Co.

Rising rates

Louisiana Citizens Property Insurance Corp. willraise rates in February for some 5,700 commercialpolicyholders, most of them in south Louisiana.This is the fourth year in a row for a rate increase.

Year Rate change2010 4.7 percent2011 2.1 percent2012 11.7 percent2013 45.1 percentSource: Louisiana Citizens Property Insurance Corp.

Bumpy Triche area presidentArthur J. Gallagher

Marc EaganpresidentEagan InsuranceAgency

Randy MaddoxpresidentMorrison InsuranceAgency


Covington-based LLOG Exploration and The BlackstoneGroup, a global investment firm, have partnered toinvest more than $1.2 billion in developing the oil andgas company’s offshore operations in the Gulf of Mexico.

The partnership will focus on expediting the develop-ment of four recent deepwater oil discoveries in the Gulf,including its Who Dat oilfield about 120 miles southeastof New Orleans as well as the exploration and appraisalof more than 100 prospect leases. The amount of each

company’s investment was not disclosed.LLOG is one of a handful of privately owned,

independent oil and gas companies moving to explorethe deepwater Gulf. High operating costs have keptmany independents from searching for oil and gas indeeper waters.

Last year, LLOG was one of the first oil and gas com-panies to purchase a floating production unit for its WhoDat field on spec instead of spending years to design

and build a customized production unit. The decision cutat least four years off the production time for the field,which is estimated to hold up to 300 million barrels of oilequivalent, and allowed the company to avoid the steepcost of building a platform.

In addition to developing existing fields, Blackstoneand LLOG could also use the investment to grow thecompany’s lease acreage in the Gulf through federallease sales and acquisition.

The West End-Bucktown entertainment district may notever realize its former glory, but that doesn’t mean it can’tsupport a new restaurant.

That’s what Schubert’s Marine manager Jordan Brimerthinks anyway, and he hopes to open a new seafoodrestaurant in what is currently a yacht repair shop next toWest End Park in time for the spring boating season.

Brimer said Schubert’s will free up about 6,000square feet for a ground-level, standalone restaurant bymoving the yacht repair facility to unused space. Thebuilding is “grandfathered” from federal elevation stan-

dards, which makes the project possible but also pre-sents challenges, Brimer said. He expects flooding atleast twice a year and is still deciding whether to buildout the second floor for storage.

Brimer lacks restaurant experience, but said he is indiscussions with experienced restaurateurs whom hedeclined to name.

“It’s not going to be anything high end or anything likethat,” Brimer said. “We’re just trying to cater to what wasalready out here pre-Katrina. They had Jaeger’s, Bruning’s,The Dock.”

Appetites Ahoy

A local Re/Max office is organizing a clothing drive forfellow agents in New Jersey who lost their homes inHurricane Sandy.

Mary Ann Casey-Theriot, a broker-owner in theRiverbend, said 18 Re/Max agents lost everything inthe storm, and four offices were damaged ordestroyed.

Clothing, linens and other household necessitiescan be dropped off from 9 a.m. to 5 p.m. weekdaysuntil the end of November at Casey-Theriot’s office at8001 Carrollton Ave. Real estate agents are especial-ly vulnerable when personal loss is coupled withbusiness drying up, Casey-Theriot said. She shouldknow: 15 agents in her office lost everything duringHurricane Katrina.

Donors can also write checks to the relief fund,which is a tax-deductible charitable organization.

“This isn’t about writing huge checks,” Casey-Theriot said. “Every small amount adds up and it canmake a difference in their lives. These people arefreezing. They are living in temporary housing. Theyare cold and they just had this horrible snow storm.”

CityBusiness staff reports

CITYBITS

West End yacht repair shop makes room for restaurant

LLOG, investors team on $1.2B Gulf deal

Local Realtor leadsclothing drive for Sandy victims

Theodent, the cocoa-bean infused toothpaste TulaneUniversity alumnus Arman Sadeghpour invented, willbe included in the celebrity gift bags handed out atthe International Emmys on Monday night.

In an interview with Tulane University’s NewWave staff, Sadeghpour said Theodent 300 was oneof only nine items chosen to be included in the giftbags. The product has a patented ingredient calledRennou, a nontoxic alternative to fluoride that helpsrebuild the enamel surface on teeth. The profession-al-strength toothpaste is normally sold exclusively atdental and doctor’s office for $100 a tube.

Sadeghpour’s has had a busy year sinceTheodent’s Jan. 4 launch, making the product avail-able at 171 Whole Foods Markets throughout thecountry and at 120 Raley’s grocery stores exclusivelyin California

Emmys ‘swag’ toinclude NOLA-madeTheodent toothpaste


C O V E R S T O R Y

By Maria ClarkStaff Writer

[email protected]

TAYLOR JACKSON takes his mobile foodvending business wherever the opportuni-ty presents itself. This week, EmpanadaIntifada parked near Frenchman Street,and he will take part in a food truck festivalon Broad Street today.

Jackson keeps in touch with his regularcustomers. If they work at an office build-ing outside the downtown area, where citylaw prohibits him from setting up shop, hewill get them to round up their coworkersand drive his truck to their location fortheir lunch hour.

It’s a piecemeal and inconsistent way ofmaking a living, he said.

Jackson and other food truck vendorshope the city will revise its rules restrictingwhere they can operate in time for theSuper Bowl.

Under the current ordinance, they arenot allowed to work in the Central BusinessDistrict, French Quarter or WarehouseDistrict — areas they see as optimal.

Over the past year, attorney AndrewLegrand has represented the NewOrleans Food Truck Coalition, whichwants to amend the city’s 50-year-oldrules for mobile food vendors. On top ofnot being able to operate downtown,food trucks cannot operate within 600feet of a restaurant, church or schoolsand are not allowed to stay in one placefor more than 45 minutes.

Legrand said the coalition has beenworking with Councilwoman at-largeStacy Head to revise the rules so they don’tfavor brick-and-mortar restaurants over themobile vendors.

The city doles out a limit of 100 permitsannually, and they expire after one year.The coalition wants to remove the cap andthe limits on setting up near a restaurant.

The rules are being revised with possi-ble concerns the restaurant industry mighthave in mind, Legrand said.

“The (main) complaint has been thatmobile vendors don’t have to pay propertytaxes, so they shouldn’t be able to parkanywhere they’d like,” he said.

The Louisiana Restaurant Associationsaid in a statement that there has to be

some restriction regarding the proximity offood trucks to restaurants.

A bigger concern of the LRA is foodsafety. State health regulations require foodtrucks to report daily to a commissary,where they can store food and paper prod-ucts, prepare any food the vendor can’tcook in the mobile unit and to wash cook-ing utensils. A kitchen at an existing bar orrestaurant can qualify as a commissary.

But even if an operator is following thefood safety guidelines, there’s concern overthe ability to enforce regulations andensure the public a vendor runs a cleanoperation.

“State health inspector visits tolicensed premises are unannounced,” the

LRA said in a statement. “With the verynature of the food trucks being mobile,we can contemplate this being an issuefor consistent inspection. How does thesanitarian determine where the foodtruck is located?”

Legrand said finding licensed commis-saries has been difficult for mobile foodvendors in the city, with rules so restrictivethat they don’t offer an opportunity formore people to open commercial kitchensgeared specifically for them.

Jackson has been using the kitchen atCake Café on Royal Street as his commis-sary but said the lack of space has been aconcern. He’s currently looking for a dif-ferent kitchen.

“If they relax the rules, this could bean opportunity for people to invest inopening up commissaries,” Legrandsaid. “We could see the beginning of awhole new industry.”

The coalition is also working with thecity on a rule requiring each vendor to putout a garbage bin in front of the truck.Operators would be responsible for pick-ing up any garbage.

“We are trying to work out a compro-mise on the rules anticipating that wemight hear complaints from the brick-and-mortar places, even though we haven’tyet,” Legrand said.

The primary concern from most restau-rant owners is proximity.

“I don’t want them right outside mydoor, but I understand competition hap-pens every day,” said Ralph Brennan,owner of four local restaurants. “It’s part ofbusiness. As long as they comply with foodsafety and regulations, I would say that’sthe bigger issue.”

David Travis, general manager at Saluon Magazine Street, said the additionalcompetition will not affect the restaurant.The Uptown business is in the heart of acorridor of dining establishments, plusfood trucks have already found compliantcorners on Magazine.

When people want to go out to eat, theywill go to a restaurant and not stop on theirway at a food truck, he said. If anything, heexpects mobile vendors will impact fastfood locations and late-night spots thatserve food.

“Food trucks fit our culture,” Travissaid. “People like to walk and drink. Theyalso like to eat and walk.”•

Vendors hope changes are in place in time for Super Bowl

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Food truck operator Taylor Jackson places a tray of empanadas into the over of his mobile galley.

Drive Time

100Mobile food vending permits the city issues annually.The permit must be renewed every year and vendorscan only stay in one place for up to 45 minutes.

600 feet The required distance a mobile food vendor must befrom a restaurant, school or church to sell food. Theyare not allowed to set up in the Central BusinessDistrict, the French Quarter or Warehouse District.Source: City of New Orleans


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[email protected]"SUBWAY® is a registered trademark of Doctor’s Associates Inc.© 2012 Doctor’s Associates Inc."

By Tom Fitzmorris Restaurant [email protected]

THE LONG-RUNNING rivalry betweenNew York-style (thin crust) pizza and thedeep-dish Chicago pie isn’t somethingwe have been able to observe much inNew Orleans. But as our pizza optionscontinue to get more numerous, we canget this argument going.

Midway Pizza straddles the fence onthickness, but its work is classy and care-ful. They even give salads some attention.

Why it’s essentialMidway is the perfect name for this place. Notonly is it halfway between Jefferson andNapoleon avenues, but the pizza is halfwaybetween New York and Chicago. It’s a deep-dishjob, with a crust about twice as thick as you’reused to. However, it doesn’t hold a two-inchstratum of tomato sauce, nor does it take anhour to bake the way a real Chicago-style piedoes. Instead, a thin, crisp layer lines the bottomof the crust, just like a good New York pizza.

Anyone who remembers The Deli’s pizzain the 1970s will find this somewhat similar— and better.

Why it’s goodThe house combinations here are much morecreative than we find in most other pizzerias.Once you’re past the Margherita and multi-meatjobs, everything is unique. For example, thesauce they call “Creole-Fredo” is a brilliantorange from its mixture of tomato sauce andcream. Many pies have more than one sauce.

The appetizers are terrific, even thoughthey’re essentially reconfiguration of the pizza

ingredients, and they have a candidate forbest Caesar dressing in town.

Back storyThe old commercial stretch of Freret Streetbetween Jefferson and Napoleon was bub-bling with trendy restaurants when MidwayPizza opened in 2011. It was just in time forthe fall term at nearby Tulane and Loyola uni-versities, and it greeted students with exactlythe menu and premises they seek. This neverseems to change.

SurroundingsThe old commercial building gives the restau-rant a long front on Freret, with a correspond-ingly lengthy dining room. At the far end fromthe corner is the combination kitchen, bar andbuffet. The latter is in use at lunchtime onweekdays, when you get a salad and all thepizza you want for $9. The bar is not perfunc-tory, and they really can make a good cocktail.

Top essential dishes1. Pigs in a blanket (Italian sausage,

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Midway Pizza$$

4725 Freret St.322-2815

Lunch and dinner seven days a weekVery casual

www.midwaypizzanola.comPrice ratings are what one person should expect

to spend on a meal. Each $ represents roughly $10.

NOLA pizza options includelocal take on Chicago style

mozzarella, tomato-basil relish and Creole mustard-jalapeno sauce)

2. Roasted polenta cake with spinach, mushrooms and creamy marinara

3. Caesar salad4. King Creole pizza (Creole-fredo sauce, garlic

shrimp, tomato basil relish and green onion)5. Margherita pizza6. Thunderbird pizza (chicken, ham, bacon,

onion and roasted red pepper aioli)7. Natty “E” pizza (chicken, bacon, tomatoes,

onions and green goddess sauce)8. FD2 pizza (chorizo, green chiles, red onion,

cotija cheese and green onions)

For best resultsOne small pizza plus a salad or a starter is easi-ly enough for two people. The lunch buffet is sobusy that the pies are about as fresh as if theywere made to order.

Room to improveThe crust would be a bit better if it actuallytouched the surface of the oven bottom.

Factors other than foodUp to three points, positive or negative. Absence of points denotes average performance. Dining environment Consistency +1Service +1Value +1Attitude +2Wine and bar +1Hipness +2Local color +2

Special attributesOpen Sunday and Monday for lunch and din-ner; open until midnight; open until 1 a.m.Friday and Saturday; open all afternoon; vege-tarian dishes; quick, good meal; good for chil-dren; easy, nearby parking; no reservations.

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Scott Herlihy enjoys slices of Thunderbird &Money Pie pizzas at Midway Pizza.

Restaurants are rated on a five-star scale.

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Now departingNearly 84 percent of all flights at LouisArmstrong New Orleans InternationalAirport were on time in September,according to U.S. Department ofTransportation figures released last week.

Airline On-time rate

AirTran 98.33 percent

Southwest 88.76 percent

ExpressJet 88.37 percent

US Airways 88.13 percent

Delta 87.98 percent

United 81.25 percent

JetBlue 77.57 percent

American Eagle 76.67 percent

SkyWest 66.67 percent

Mesa 63.16 percent

American 55.91 percent

New Orleans 84.2 percent

Nationwide 83.3 percent

Source: U.S. Department of Transportation

Checking inOccupancy rate for New Orleans-area hotels*:

Nov. 3 Oct. 27 Nov. 5, 201169.4 percent 78.6 percent 66 percent

Source: Smith Travel Research *New Orleans area includesJefferson, Orleans, Plaquemines, St. Bernard, St. Charles, St. James, St. John and St. Tammany parishes

Oct. 20 Oct. 13 Oct. 22, 20110

200

400

600

800

1000

807

702

801

Nov. 3 Oct. 27 Nov. 5, 20110

200

400

600

800

1000

563638

836

New Orleans-area unemployment claims

Source: Louisiana Department of Labor *River Parishesinclude St. Charles, St. James and St. John parishes

Jobless at a glanceArea September August Sept. 2011St. Bernard 1,244 1,399 1,256St. Tammany 5,493 6,375 6,240Orleans 12,198 13,975 13,172Jefferson 13,229 14,702 14,078

New Orleans area 35,958 40,567 38,742Louisiana 130,932 151,478 147,676United States 11.74 million 12.69 million 13.52 million

Parish-by-parish weekly claimsJefferson 223Orleans 184River Parishes* 60St. Bernard 13St. Tammany 77

BUSINESSDASHBOARD

Flying highLouis Armstrong New Orleans International Airport ranked 67th among the top 100 U.S. airports indomestic fares for roundtrip or one-way tickets in the second quarter. Fares are based on the totalticket value, which consists of the price charged by the airlines plus any additional taxes and fees butdo not include other fees, such as baggage.

2Q 1Q 2Q 2011 Change over 2011New Orleans $370.35 $359.61 $343.71 7.7 percentUnited States $385 $373 $370 4.1 percent

Source: Bureau of Transportation Statistics

Talking turkey

$49.48Average cost of a Thanksgiving dinner for 10 in 2012,

up 28 cents from the 2011 average of $49.20. That includes turkey, bread stuffing, sweet potatoes,

rolls with butter, peas, cranberries,a relish tray of carrots and celery, pumpkin pie

with whipped cream, and coffee and milk

Source: American Farm Bureau Federation

St. Tammany Parish had the area’s highestforeclosure rate in October, which includesdefault notices, auction sale notices andbank repossession.

Parish Filings Households in foreclosure

St. Tammany 294 1 in 325Jefferson 388 1 in 487St. Charles 37 1 in 538Orleans 117 1 in 1,623St. John 7 1 in 2,501Plaquemines 1 1 in 9,596St. Bernard 0 0

New Orleans 844 1 in 638Louisiana 1,678 1 in 1,171United States 186,455 1 in 706Source: RealtyTrac

Foreclosure facts

Rental report

The average monthly rent per square foot for apartments in the Greater New Orleans region was $1.02 in the fall of 2012. The breakdown that follows shows the average for various layout options:

Square feet RentStudio 431 $6181 bed/1 bath 718 $7842 bed/1 bath 853 $8422 bed/2 bath 1,049 $1,0243 bed/2 bath 1,304 $1,202Overall $64 $877Source: Greater New Orleans Multi-Family Report

Subscribe now and get the Book of Lists valued at$115 as part of your paid order.

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Official: Grocer will moveinto Schweggman’s site on N. Broad The former Schwegmann’s site on North BroadStreet might have a future as a grocery store, butthe national chain that’s said to be moving into thespace isn’t confirming the news.

Fred Tombar, senior adviser for disaster recoveryfor the U.S. Department of Housing and UrbanDevelopment, said in a public presentation last Fridaythat Whole Foods intends to occupy the formerSchwegmann Giant Super Market at 300 N. Broad St.

The nonprofit Broad Community Connections pur-chased the property this summer for $2.4 million.

Tombar said the store will use a “new urbanmodel,” though he could not provide further details inan interview following his presentation to a communi-ty development symposium at Basin Street Station.

New Orleans will be the second city after Detroitin which Whole Foods uses the new model, Tombarsaid. The grocery outlet plans to open a 20,000-square-foot store in Detroit next year, and co-ChiefExecutive Walter Robb has said that developmentwill operate in or near underserved areas.

Kristina Bradford, spokeswoman for WholeFoods’ Louisiana stores, was vague when askedabout Tombar’s statement.

“While we may have expressed interest in that

project, we do not have any commitments for devel-opment in Louisiana at this time,” Bradford said.

Tombar, however, said Friday that “develop-ment is already beginning.”

Plans for the 60,000-square-foot Schwegmannsite include additional tenants and community ser-vices, according to The Times-Picayune.

Broad Community Connections did not respondto an interview request.

REAL ESTATERECORDS — Ben Myers



Start something big.

Think big. Move beyond.

To learn more, call 504-875-3908 or visit www.churchillpark.org.

Owner ‘still shaping’ plansfor former Winn-DixieA Treme land parcel seen as critical to the area’sredevelopment is in the hands of hotel developerMichael Valentino, but there’s no indication he hasfirm plans for the property’s future.

Valentino leads Lafitte Street Development, LLC,which purchased the site of a former Winn-Dixie at1501 St. Louis St. for $5.1 million July 31. The260,000-square-foot site is in the middle of what isexpected to be a hotbed of redevelopment over thenext several years, including University MedicalCenter and the Iberville public-housing apartments.

NewCity Neighborhood Partnership projects$3.7 billion of development activity in an areabounded Tulane and St. Bernard avenues andBroad and Rampart streets.

Valentino is also the sole member of the entitythat owns Basin Street Station at 501 Basin St.,adjacent to the Winn-Dixie site.

Plans for the recently acquired land are stillbeing devised, Valentino said in a brief interview.

“This is going to be a real nexus point for howall this comes together,” he said. “We are stillshaping that and forming it.”

New complexes create ‘equilibrium’ in rental marketNearly 300 new multifamily apartment units span-ning four properties will come online before year’send in the Central Business District, Marigny andLower Garden District, according to the GreaterNew Orleans Multi-Family Report.

The new units might boost supply in the city’sHistoric Center, but stringent underwriting and aland shortage is limiting multifamily construction inthe region, according to the report from Larry G.Schedler and Associates.

The report cites only one additional new proper-ty outside of the city — the 240-unit BrewsterCommons at River Chase in Covington — but sig-nificant projects are expected to break ground nextyear in Covington and Elmwood.

The average rental rate in the Historic Center— comprising the French Quarter, the WarehouseDistrict, the St. Charles Avenue corridor, Mid-Cityand downtown — exceeds the metropolitan areaaverage by about 45 percent at $1,267. Occupancyin the Historic Center is 96 percent, compared with92 percent across the region.

Overall the market has reached “equilibrium,”the report states.

The authors note strong sales demand, particu-larly in West Jefferson, where Delta Alliance CapitalManagement and Redwood Real Estate Partners pur-chased the Baywood and Cedardwood apartments inAugust. Those properties each comprise 226 unitsand sold for an average of $51,991 per unit.

Tonti upgrades Metairieapartments lost to firePre-leasing has begun on 48 renovated apartmentunits in the Chateau Napoleon complex in Metairiethat were destroyed in a fire last year.

Apartment Homes by Tonti, the property owner,decided to upgrade the rebuilt units, which are

now the only luxury apartments in Metairie, prop-erty supervisor Katie Rigsby said. The complex at3701 W. Napoleon Ave. contains 159 units.

Studios, one- and two-bedroom apartments areavailable, and lease rates range from $745 to$1,350. Three units had been leased as of Nov. 7,Rigsby said.

Rigsby declined to say how much Tonti invest-ed in the renovation.•


© 2012 Goldman Sachs. All rights reserved.

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BANKNOTES

NOLA-area businessesmake capital connections

Parkway Bakery and Tavern, the iconic po’ boyshop on Bayou St. John, is one of four New Orleansbusinesses vying for cash through the Inner CityCapital Connections program, an annual initiativethat educates inner-city business owners aboutaccess to lending.

The program, co-founded in 2005 by theInitiative for a Competitive Inner City and Bank ofAmerica, connected a group of 178 companies withpotential investors last Friday at the FortuneMagazine headquarters in New York.

Other New Orleans-area businesses taking partinclude FutureProof, a sustainable design anddevelopment firm; Henry Consulting, a businessconsulting firm; and Valentine Medical Center, amedical center in Belle Chasse.

The one-day capital matching event was thelast phase of the ICCC program, which offers par-ticipants training and information session on equityand other forms of growth financing and help per-fecting company pitches.

According to surveys of 375 ICIC participants,more than three-quarters of which are minorityowned, about 71 percent lack the capital they needto grow and about 37 percent of businesses claimthat their company size is too small to qualify forlending. Another 35 percent noted that they lackedconnection with a capital provider, with about 28percent having little-to-no bank relationships.

Some 123 firms have raised $703 million incapital through ICCC since it was founded.

Survey: Community banksspending more on apps

Community banks plan to up their spending ontechnology in the coming year, focusing investmenton the development of mobile banking services,according to a survey the audit and advisory firmKPMG released earlier this month.

The 2012 KPMG Community Banking Outlook


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— Jennifer Larino

Survey, which quizzed 105 executives at bankswith $5 billion or less in assets, found that about60 percent of respondents planned on increasingtechnology spending in 2013 despite pervasiveworries about fiscal impact of new banking regula-tions and capital requirements.

Half of the bankers said they plan on investingin information technology, with 26 percent planningto ramp up mobile banking and payments offeringsand about 23 percent focusing on transitioning tocloud-based technology.

In New Orleans, a group of banks are focusingspending on mobile banking as a way to grow with-out the costs associated with adding brick-and-mortar locations, though many still don’t offermobile options. Don Woodland, director of theLouisiana State University Graduate School ofBanking, noted in a recent interview withCityBusiness that Louisiana community banksaren’t typically quick to adopt cutting edge technol-ogy, mostly because customer demand for mobilebanking and other services often lags behind otherparts of the country. “A lot of people here still liketo go into a bank,” Woodland said.

But that’s changing. Six percent of 1,000 adultssurveyed in an October American BankersAssociation survey said they now prefer mobilebanking to online banking or a branch visit, upfrom 3 percent in 2010. Among 18- to 34-year-olds, the rate is 15 percent.

Area community banks don’t appear to bespending on improved cyber-security, however.According to the KPMG survey, 51 percent ofbankers were slightly concerned or not concernedthat valuable online data was vulnerable to attack.About 14 percent were extremely concerned.•

18 New Orleans CityBusiness November 16-22, 2012


School in Mid-City for $920,000 and thePierre Capdau School on FranklinAvenue for $612,000.

No one else wanted the 14,400-square-foot bus barn, which was once a Civil Warhospital, so the partners in CCNODevelopment bid $75,000, or 12 percentof the appraised value.

“It’s a beautiful neighborhood, and itseemed silly to let it sit and rot,” Stebbins said.

The building at 801 Patterson St. iscrawling with vines, suffers from termitedamage and contains deteriorating mortar,

according to an appraisal.“It’s a shame to let it sit, even if all we do

is go over there once a month and dust it offand make sure it’s OK,” Walker said, addingthat a minor use is possible while he andStebbins devise a plan for the building.

Stabilizing and cleaning are the firstobjectives for the barn and the two otherbuildings. Morris F.X. Jeff and PierreCapdau are likely to turn into full-scaledevelopment projects in the next three tofive years, but Stebbins and Walker aren’tsure what that will entail.

Although firm plans are yet to be estab-lished, Stebbins and Walker note that anaging population surrounds Pierre Capdau,while Morris F.X. Jeff may lend itself to amixed use in the up-and-coming Gentillyarea. They have experience in both types of

neighborhood markets, including workingwith former school properties.

CCNO is converting the formerMcDonogh 16 building on St. ClaudeAvenue into a 68-unit residential complex forseniors, a project it expects to complete latenext year. The company is also behind theConstance Lofts, which were built in a formerold cotton press in the Warehouse District.

CCNO also has renovated 56 duplexesin the 7th and 9th wards since Stebbins co-founded the company in 2007 with a part-ner who left two years later.

A CCNO-built senior living complex, theTudor Square Home for the Aged, is tuckedbehind the company’s Claiborne Avenue

headquarters, which is a former crematorium. Renovation of the crematorium is not

complete, with one half of the buildingfilled with construction materials. Stebbinsand Walker don’t know what will come ofthat, but they don’t seem concerned.

The priority, they say, is developing prop-erties in a way that preserves history, ensureslong lives for buildings and fits surroundings.

“Our job and strength is to determine thebest use of the building, and that has a bunchof moving parts,” Walker said. “It’s not justwhat will make the most money, what is bestfor the historic structure, what is best for thebottom line, but what is also keeping in linewith the human beings around it.”•

OPSBcontinued from page 1 P

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Campus clearance

The Orleans Parish School Board unloaded threeproperties for $2.7 million at a Nov. 8 auction. Anadditional three were received bids totaling$100,000, or 13 percent of appraised value, triggeringa legally required board review.

The properties sold include:

Pierre Capdau School 3821 Franklin Ave.Morris F.X. Jeff School 800 N. Rendon St.New Orleans Free School 3601 Camp St.Algiers Bus Barn 801 Patterson St.Lake Forest Montessori 8258 Lake Forest Blvd.Vacant lot 2717 Athis St. Source: Orleans Parish School Board

CCNO Development paid $612,000 for Pierre CapdauSchool, above, and $920,000 for Morris F.X. Jeff School,right, at a Nov. 8 auction.

Partners have rehab résumé

WOODWARD DESIGN BUILD.COM

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Firms from outside the New Orleans area have decided to settle in and established themselves even as theconstruction sector shows signs of life in their original markets.

more aggressive and, as a result, drivendown construction costs.

“There is definitely something dynam-ic going on in the industry,” Yoder said.“Some out-of-state firms don’t have aclear understanding of what it costs to dowork in the city. As prices get drivendown, the amount of work going to localsis being minimized.”

Allan McDonnel, president of TheMcDonnel Group, offers adirect example of a job inwhich his firm was squeezedout by competition. In2010, his company was oneof six in the second round ofbidding for a contract tobuild a consolidated carrental facility at LouisArmstrong New OrleansInternational Airport. Initialbids came in well below theproject’s budget and a sec-ond round of bids, followingtechnical errors on all of thesubmitted bid forms, droveprices down even more. Theproject eventually wasawarded to Kenner-basedSatterfield & Pontikes Construction, butMcDonnel said the bidders included out-of-state firms.

Several reconstructions and renovations atRecovery School District properties have alsogone to out-of-state contractors, he added.

“Much of it has to do with these firms notworking with the subcontractors beforehandto come up with a bid tabulation,” McDonnelsaid. “Local contractors know the lay of theland and know what the subcontractorshere are capable of. Out-of-town groups aretaking jobs and then going after subs.”

The intense competition has encour-aged some firms to change the way theyapproach the market to maximize whatthey are getting from it.

“We are constantly trying to find ways

to work more efficiently,” Yoder said. “Weare using more modern technology, likeGPS navigation and other software tools,to help us improve our bid. We have alsostarted to bid on more work than we havein the past to get more work. You do whatyou can to stay competitive.”

Ryan Gootee, president of RyanGootee General Contractors, said manyfirms have been forced to not to bid onsome projects because the competition hasmade it not worth the effort.

“Before the storm, we were biddingagainst two or three otherfirms,” Gootee said. “Nowwe are seeing quotes fromguys we have never heardof before. If there are 10 or15 firms on a list, we won’tgo after it.”

Robert Boh, president ofBoh Bros. Construction, saidhis company is also optingnot to go after jobs with toomany bidders, but added thatthe increased competition isjust part of a cyclical industry.

“Two to three years ago, alot of national contractingfirms started looking forwork here,” Boh said. “Wewere getting lots of govern-

ment funding and federal grants for work,and it has been difficult for everyone in thelast 18 months to land some work.

“But we have seen this before. It allcomes down to working more efficiently.”

McDonnel said there are some advan-tages to the competition in that the ownersof some of the projects have the opportuni-ty for savings, assuming the project is exe-cuted properly and the owner gets the fin-ished product in a timely manner.

“With tighter margins come less roomfor error on the part of the contractor andhis subcontractors,” McDonnel said. “Ifsomething comes up in the middle of theproject, it could get drawn out six, eight, oreven 10 months, which ends up costing theowner in the end.”•

Good climate for owners

27thLouisiana’s rank in construction employmentgrowth over a 12-monthstretch ending Sept. 30,according to the mostrecent figures available.The state lost 1.6 percentof its sector work force overthe period, ending with123,600 jobs — 2,000fewer than a year earlier.Source: Associated GeneralContractors of America

CONTRACTORScontinued from page 1

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CityBusinessnews staff

November 16-22, 2012Volume 33, Number 21

Associate Publisher/Senior Vice President: Lisa [email protected] or 293-9226

Editor: Greg [email protected] or 293-9299

NEWSROOM

News Editor Christian Moises: Special projects, employment, [email protected] or 293-9249

Reporters

Ben Myers: Commercial real estate, government, ports. [email protected] or 293-9254

Jennifer Larino: Finance, energy, [email protected], 293-9255

Maria Clark: Technology, law, green [email protected], 293-9210

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Emily Jones: Market research [email protected], 293-9224

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nopg.comERNEST CHARBONNET’S heart is in the rightplace, and he has gone about crafting a proposal tohelp his constituents in the 9th Ward in a logical andfair fashion.

But the interim city councilman for District Ecould end up hurting not just the resi-dents of the neighborhood ravaged bylevee failures in 2005, but those in otherneighborhoods as well as the city’stourism industry.

Charbonnet wants to require tour companies that fea-ture the 9th Ward on their itinerary to pay $350 annuallyfor a permit. The money would go toward blight reme-diation and general upkeep projects in the area.

According to a representative from the council-man’s office, the ordinance needed to put the permitin place has the support of several large tour compa-nies that helped determine the amount of the annualfee. These businesses, perhaps caught up in the posi-tive spirit of the concept, are overlooking the pitfalls itpresents to their industry.

If permits become necessary to tour the 9th Ward,it opens the door to other areas of the city seekingimpact fees for the tours that frequent their streets.

Would Garden District residents be able to pursuea surcharge for the groups that traipse around itsgraveyards, damaging historic markers as well asexposed oak tree roots that compromise the neigh-borhood sidewalks?

Could residents in Bayou St. John and Gentillyextract the cost of cleaning up after the droves of visi-

tors buses bring to the Fair Grounds for Jazz Festeach spring?

These become reasonable propositions if the 9thWard is allowed to tap into a city revenue stream.

The stance taken here should not be perceived as aslight of the 9th Ward or its residents, whohave endured an uphill battle to reclaimtheir neighborhood after the levee failures.Instead, the possibility of tour permitsshould evolve into a discussion about what

other economic impact measures could be taken toresuscitate the neighborhood.

Rather than adding to the existing tax burden of tourcompanies, the 9th Ward should work with operatorsto ensure that visitors have the chance to spend moneyat its businesses or donate to its worthwhile causes.

The $350 permit fee might seem a more direct wayto tap into tourists, but keep in mind that the city hasmade little effort to enforce a ban on bus tours in the9th Ward that was put in place in 2006. There’s noguarantee that fee collections will be any more effective.

Any such fee will more than likely be passed on totourists, who might balk at the price increase. And ifvisitors are never made aware of the 9th Ward’s cur-rent plight and valiant attempts to recover, it will beyet another disservice to its residents.

For the concerning precedent it would set and thepossibility that the intended recipients might never seethe money, not to mention its impact on the tourismindustry, permit fees for tour buses taking visitors tothe 9th Ward should be permanently parked.•

U-turn needed for 9th Ward tour permits


SINCE HIS FAILED BID for the presidency, supporters ofRepublican candidate Mitt Romney have made a mass exodusfrom his official Facebook page.

The news media, with little left to dissect after Election Day,jumped on social media to cover the trend. As of the Friday after therace, The Washington Post reported Romney was losing 593 “likes”an hour. By Saturday, Mashable said the rate increased to 847.

I found it to be one of the more absurd factoids to emerge inthe post-election period, until a gem landed in my mailbox.

The website SeekingArrangement.com, which bills itself as“the world’s largest Sugar Daddy Dating website,” claims thatPresident Obama’s re-election produced some 9,700 signups onNov. 8, the same day the Dow Jones index fell 369 points. As ofMonday, the site purports adding 30,000 new members — orSugar Babies, as they are termed.

Because there clearly weren’t enough polls before the election,SeekingArrangement.com conducted its own in August of 10,000Sugar Daddy members, who leaned heavily toward Romney. The

site then gave the Republican candidate its endorsement butrescinded it after his “47 percent” comment became public inSeptember. An additional factor leading to the retraction: anotherpoll showed Sugar Babies preferred Obama 3-to-1.

“Sugar Babies relate to Obama because his general message ismuch like that of a Sugar Daddy,” Brandon Wade, CEO andfounder of the website, said in a statement. “President Obamaunderstands that everyone needs a hand every now and then, butin return he asks for cooperation from citizens. What he hasn’tperfected is the art of a mutually beneficial relationship becauseright now, what he’s giving isn’t enough forsome people, particularly women.”

I hope we don’t have to wait another fouryears for more of this astute political commen-tary. Does that make me a Sugar Junkie?•

Editor Greg LaRose can be reached at 293-9299or [email protected].

EDITOR’SNOTES

Romney loss begs question: Who’s your sugar daddy?

Misfortune cookieWEST HARTFORD, Conn. — Policesay a man stole a car used to deliverChinese food and continued drop-ping off orders so he could keep thecustomers’ money.

Keith Hinds was charged Nov. 6with larceny, possession of less thanhalf an ounce of marijuana, posses-sion of drug paraphernalia and otherdrug charges.

Police received a call from aChinese food delivery driver report-ing that his car had been stolen afterhe left it idling to run into a school.

The driver also called his boss socustomers could be notified thattheir orders were stolen with the car.Police say one of the orders wasdelivered after the car was taken.

Hinds was held on $5,000 bond.— The Associated Press

WITH THE ELECTION IN THE rearview mirror, it’s time tostart speculating on what the next four years will mean to themortgage and housing industry.

When President Obama took office in January 2009, the hous-ing and credit markets were in shambles. Foreclosures were risingand a “short sale” was becoming a part of a Realtor’s dictionaryand skill set.

Mortgage rates were beginning their downward slide from the5 percent range to 4 percent to where they are now, the 3 percentterritory for a 30-year fixed rate.

The squeeze on money for jumbo loans that were beyond therealm of Fannie Mae and Freddie Mac was suffocating, andmoney that was available was high-priced. Slowly, the noncon-forming jumbo market has been revived and banks have becomemore willing to lend with competitive rates.

Four years ago, flexible and common sense underwriting formortgages was replaced with strict guidelines and multiple over-lays by investors who sought to ensure that every loan was goingto be a perfect, airtight investment that would never be subject to abuyback. That is still the case.

The administration did address the need to help homeownerswho had lost 20 to 40 percent of the equity in their homes, leavingthem underwater, by enacting the Home Affordable RefinanceProgram and the Home Affordable Modification Program. Theprograms have been tweaked and refined over the years to helpthose homeowners, but more can be done.

HARP is limited to those homeowners who had a FannieMae- or Freddie Mac-owned or guaranteed mortgage that wassold to those government agencies prior to June 1, 2009. I amsure there is a good reason why June 1 was picked, but the real-ity is that homeowners who purchased homes on June 2, 2009,and well into 2010 and even into 2011 have lost equity. Mysuggestion is for the government to open up the program tothose homeowners who had loans that were sold to Fannie orFreddie by Dec. 31, 2010. That would help millions of borrow-

ers to participate in the lowerrates that are now available.

In addition, the U.S.Department of Housing andUrban Development andCongress hopefully will paysome attention to the othermillions of homeowners who

are underwater but whose loans are not owned or guaranteed byFannie or Freddie. There must be some enticement for thoselending institutions to help out those homeowners.

There is a sense that foreclosures are slowing and that shortsales will become fewer as home values continue to stabilize, or -even in some sought-after neighborhoods - rise. However, there islittle talk about the millions of underwater homeowners who inthe next few years will see their very affordable interest-only firstmortgages turn into principal-and-interest payments with shorteramortizations. Similarly, those who have home equity loans underinterest-only payments will see likewise recalculations.

For example, many homeowners in 2004 took out a 30-yearfixed rate mortgage with a 10-year interest-only period. After the 10years, the remaining balance is amortized over the final 20 years ofthe loan. So what does that do to the borrower’s payment?

If their rate was 6 percent, and the original loan amount of$300,000 remains, the interest-only payment is $1,500. In 2015,that payment will become $2,149, a nearly $650 monthly increase.

The homeowner can’t refinance because the house has lost toomuch value and the combined housing payments may be too bur-densome. Now, a previously “on-time” borrower may be underduress and may not be able to make the new higher payments anda new wave of foreclosures may be just around the corner.

You read it here first.Likewise, Congress needs to address the soon-to-expire

Mortgage Forgiveness Debt Relief Act of 2007. This act providedan exemption for any income tax on debt forgiveness for moneyused to purchase, or make improvements to, a principal residence.

Prior to the act, if you agreed to a short sale with your lender,you would be required to pay tax on the difference between whatyou owed and what you agreed to sell for. That was viewed as asignificant hardship for the homeowners and an impediment tothose seeking short sales.

The act is set to expire at the end of this year. Hopefully thelame duck session of Congress will take this up and signifi-cantly extend this act. This is certainly a mid-dle-class concern, and if the Obama cam-paign was all about the middle class, thenhopefully his administration will championthe extension of this act.•

Robert Nusgart is a loan officer with MortgageMaster Inc.

GUESTPERSPECTIVE

Obama has work to do in mortgage industry

Worth repeating

““I don’t want you guys tobe so dependent on a piece of

computer software that youforget the value of boots

on the ground.”New Orleans City

Councilwoman CynthiaHedge-Morrell, at a budgethearing covering technolo-

gy upgrades for the city’scode enforcement staff

$1.3 millionJefferson Parish government’s

settlement the with architecturefirm Wisznia Associates over delays

and cost overruns in the design and construction of the JeffersonPerforming Arts Center. Principal

Marcel Wisznia still doesn’t acceptblame for the project that now has a price tag of $50.7 million and is

three years behind schedule.

SHARE YOUR EXPERTISEProfessionals interested in contributing a Guest Perspectivecolumn to CityBusiness should contactEditor Greg LaRose at 293-9299 [email protected].


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BID TRAXThe apparent low bidders on New Orleans-area projects based on bid openings announcedin the past week, according to research from The Daily Journal of Commerce, a sister publication of New Orleans CityBusiness.

The New Orleans Redevelopment Authority recently brokeground on a project to rehabilitate a Central City buildinginto a mixed-income complex designed to remedy a chronichomelessness problem while also providing affordablehomes for the city’s work force.

NORA and Unity of Greater New Orleans, a nonprofitcoordinating the work of 60 organizations serving thehomeless, recently marked the beginning of constructionon the property.

Jasmine Haralson, director of external affairs for NORA,said the building at 2101 Louisiana Ave. is a former assist-ed living residence that was foreclosed on after HurricaneKatrina. It will be rehabilitated and upgraded into perma-nent supportive housing, affordable rental units linked toon-site case management services.

Woodward Design+Build is the general contractor onthe project. The construction budget is about $6.5 million,and the total development cost is roughly $10.8 million,Haralson said. The project should be complete by August.

The building will house homeless tenants and thosewith incomes at or below 50 percent of the area’s medianincome level. Its upgrade will include using office spacesfor onsite social services as well as property and buildingmanagement staff.

“Renovation includes a mix of 10 efficiencies and 32one-bedroom units,” Haralson said. “The energy-efficientbuilding will feature a large internal courtyard with a waterfeature, a fitness room, a computer lab, a multi-purposeroom, case management offices, a 24-hour staffed frontdesk and security cameras.”

NORA, Unity start supportive housing center

The New Orleans Redevelopment Authority and Unity of Greater New Orleans are renovating a building at LouisianaAvenue and South Saratoga Street to use as a supportive housing facility.

CONSTRUCTIONCENTRAL

Project: Construction of the new Rouquette Lodge IV, MandevilleOwner: Archdiocese of New OrleansFirm: Lincoln Builders, Baton RougeBid amount: $7.35 millionOpened: Oct. 31

Project: Hurricane Katrina damage repair of the Mardi Gras Fountain, New OrleansOwner: Orleans Levee District, Non-Flood DivisionFirm: Peabody Construction Co., HarahanBid amount: $1.19 millionOpened: Oct. 31

Project: Lake Hermitage Bridge replacement, Plaquemines ParishOwner: Plaquemines Parish Firm: Gulfcon LLC, Belle ChasseBid amount: $873,118Opened: Nov. 6

Project: William Pitcher Junior High School, Covington, teachers’ lounge and kitchen renovationsOwner: St. Tammany Parish School BoardFirm: Owen Construction Co., SlidellBid amount: $337,500Opened: Oct. 31

Project: Sewer rehabilitation program, Vintage and Medoc generatorOwner: City of KennerFirm: HTE Contractors. HarahanBid amount: $222,524Opened: Oct. 30

— Compiled by Becky Naquin, assistant data editor

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People used to call attorney EdwardKohnke the chairman of the boardswhen he presented at trial. He could

hold a jury’s attention as he guided themthrough a series of documents he hadenlarged and organized on display boardsto present his case.

In recent years, with the help of consult-ing firms that specialize in trial presentations,the chairman of the boards has gone digital.

While questioning a plaintiff last year,Kohnke followed up each question withdigital video segments of a speech the

plaintiff had given the previous year. Theplaintiff incriminated himself in the video,helping Kohnke win his case.

“It’s like storytelling,” said Kohnke, whopractices at Preis & Roy. “You want to keepyour audience captive throughout a com-pletely choreographed presentation.”

While Kohnke has taken the digitalleap, he and other lawyers who practicelocally say the transition to paperless trialshas been slower in New Orleans than in

F O C U S

TECHNOLOGY

Trial TechBy Maria Clark

Staff [email protected]

Local lawyers, courtrooms move slowly into the digital age

PRINTERS LIST . . Page 25

See TRIAL TECH, page 24

The number of official requests toGoogle for user data from governmentsaround the world through the first sixmonths of 2012. It marks a 67 percentincrease from the same period it 2009Source: Google

s t a t o f t h e w e e k

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other markets. But applications have beendeveloped to assist more tech savvy attor-neys in their goal to go paperless.

Jeff Richardson, an attorney at Adamsand Reese, was one of the first local attor-neys to start using smartphones to gopaperless at his law firm. He runs a website,www.iphonejd.com, where he offers advicefor attorneys on how they can use theiPhone, iPad and otherApple devices to uploadand organize evidence.

Richardson said thepaperless practice in thecourtroom begins withbeing paperless at theoffice. He tries to followhis own advice but admitsto occasionally relying onphysical evidence in the courtroom.

“That reliance can work against you,”he said. “Juries are so conditioned nowwhere everything has to be high tech.”

Although he still holds onto some phys-ical copies of documents, he uploads everypleading and motion in a case on his iPad.

Apps for tablet computers and mobiledevices, such as Trial Pad, Exhibit A,Documents to Go and GoodReader, have

made going paperless a little easier forattorneys. They vary in price from $10 to$90 and are geared to help the user upload,organize and annotate files for courtroompresentations. “It’s more efficient for theattorney, and it really does speed up a trial,”Richardson said.

In document intensive cases, such as theGulf of Mexico oil spill case, attorneysmore often turn to consulting firms to digi-tize and organize documents.

Connie Nichols, owner of DocuSourceDigital Consulting, started her business 26years ago and said it has taken nearly 20years for local courthouses to catch up withthe technology necessary for multimediapresentations. Over the past six years, moststate and federal courthouses have beenupgraded with video monitors, digital pro-jectors and wireless Internet access.Although there have been some upgrades totrial software in that time, Nichols saidmuch of the technology is the same.

“It has taken that long for people to saythey are going to start using a computer inthe courtroom,” she said.

Susan Pennebaker, owner of PennebakerLegal Media Center in Houston, said shehas had lawyers shy away from her consult-ing services because they don’t want tojuries to perceive them as rich.

“They know what works for them,

and don’t want to try something differ-ent,” she said.

Consumers are accustomed to receivinginformation quickly and that needs to beextended to jurors in the courtroom, shesaid, adding that the delivery of the infor-mation shouldn’t be a distraction.

“You don’t want to have a ‘Star Wars’ pre-sentation, but you have to make your pointclear and compelling,” Pennebaker said.

Her company works with attorneyssetting up jury focus groups and mocktrials to see how different jury membersreact to graphics and other visual compo-nents in the presentation before they are

used in an actual trial. Kohnke, who has

worked with bothPennebaker’s firm andDocuSource, occasional-ly misses using displayboards. Video monitorsin the courtroom canmake it difficult to guide ajury’s attention from theevidence to the witness

stand and back to the attorney, he said. “Attorneys have to keep in mind how to

tailor their presentation to their advan-tage,” Kohnke said. “The beauty of a digi-tal presentation is that it can help you hityour mark every time.” •

F O C U S

Too much tech can be distraction

Jeff RichardsonAdams & Reese

TRIAL TECHcontinued from page 23

Courtroom allies

Some of the most widely used apps for goingpaperless and presenting documents in thecourtroom:

TrialPad Document management presentation tool thatallows attorneys to organize, manage, annotateand store documents and video. $89.99 for iPad

Exhibit A Dile management and presentation tool supportsfile transfer via iTunes, Dropbox Wifi, Email andFTP. Includes basic annotation tools. $9.99 for iPad

Documents to Go Reader that allows quick transfer of documentsfrom a computer to a handheld device .$9.99 iPhone, iPad, Blackberry, Android

Good Reader PDF reader for handheld devices.$4.99 for iPadSource: CityBusiness staff research

Edward KohnkePreis & Roy


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TOURISM

Spending average per tourist in New Orleansfor 2011, when 8.75 million visitors left behind $5.47 billion dollars.Source: University of New Orleans School of Business

s t a t o f t h e w e e k

$625.14

Kathy Stewart of Enfield, Ill.,looks at a blighted homeduring an Oct. 2 bus tour ofthe Upper 9th Ward.

AP

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Tour companies shuttling visitors to theLower 9th Ward might soon have to pay anadded fee if the city requires them to pur-

chase a $350 permit for each tour bus that enters thestill-recovering neighborhood.

District E interim Councilman Ernest Charbonnetwants the money to be used for blight reduction andgeneral upkeep in the neighborhood, but some in the

tour industry are wary of the idea.“I think this is a slippery slope,” said Isabelle

Cossart, who began Tours by Isabelle in NewOrleans more than 30 years ago. “What’s to stopanother neighborhood from saying that it needshelp to recover from the storm and push for a feeon tour operators? Are we going to have to pay afee to go into every neighborhood?”

Bus TourTurmoil

By Mason HarrisonContributing [email protected]

Not all operators are on board with proposed 9th Ward permits


Permit decals are transferrable andexpire after a year. Operators, includingGray Line Tours and New OrleansTours, met with Charbonnet in earlyOctober to discuss the proposal. AndreKelly, a spokesman for Charbonnet, said15 tour companies were involved in themeeting and many agreed to support theordinance.

“We explained the rational for the ordi-nance, and it was clear that the companiesagreed with our reasoning,” Kelly said.

The proposal is unique in that it isintended to help one of the city’s hardesthit neighborhoods come back from leveefailures during Hurricane Katrina, headded.

Proponents of the idea say tour groupshave brought attention to the neighbor-hood’s plight, but so far that has done littleto impact its recovery.

Cossart said tour operators already are

laden with taxes and fees necessary to stayin business, and the industry is not eager toaccept any more even if they benefit aworthwhile effort.

“More than 3 percent of the first$100,000 that we earn goes to theLouisiana Public Service Commission,”she said. “We then have to invest to pur-chase a certificate of public necessity andconvenience to work as tour operators, andthen we have to pay $50 each year to haveall of our vehicles inspected.”

Cossart, whose company offers passen-ger van tours of Musicians’ Village in theUpper 9th Ward and other area attrac-tions, didn’t know how much revenue herfirm is required to spend each year to stayin compliance with various state and locallaws. But she describes any new attempt toadd fees as “ridiculous.”

James Camarabelle, owner of West Bank-based Cajun Critters Swamp Tours,rebuffed the council’s plan as part of a con-tinuing effort to overregulate the industry.His business doesn’t offer 9th Ward toursbut is among those subject to the city’s tourguide licensing requirements. Guides fortour companies that use buses to shuttleguests to and from hotels in the city mustsubmit to a background check and drugtesting in addition to passing a history exam.

Tour guides and the Institute forJustice challenged the regulations in fed-eral court on the grounds that they vio-late the First Amendment. U.S. DistrictJudge Susie Morgan heard the case in

September, and there’sno indication of whenshe will issue a ruling.

“I don’t know what’sgoing on over there,”Camarabelle said. “I justthink things like this takemore money out of touroperators’ pockets. …Property owners shouldpay for blight.”

Kelly said the citydoes all it can to locateand, when appropriate, fine property own-ers who have neglected properties. But theefforts aren’t always successful, and largeportions of the 9th Ward continue to strug-gle with abandoned structures and waist-high grass on untended lots.

“If the city can’t locate the propertyowners, then it needs to find a better andfaster way to sell the property and makethe money necessary to care for the neigh-borhood,” Camarabelle said. “Theyshouldn’t be passing this cost on to touroperators because all it means is that they’llhave to raise their prices.”

Kelly said the $350 figure for the per-mits was determined with input from touroperators and set to keep the price afford-able for companies that will return to thearea when the proposal is approved and a2006 moratorium on 9th Ward bus tours islifted. Despite the ban, tour groups havecontinued to operate in the neighborhoodwith few repercussions.

But in the view of thosewho stand to benefit fromthe money the permitwould raise, the cityshould ask businesses fora bigger contribution.

“I’m not convincedthat what they’re charg-ing for these decals isenough when you con-sider what these tourcompanies are making,”said Ward McLendon,

executive director the Lower 9th WardVillage volunteer coordinating center.“I’m also concerned that the contracts tocut grass and other things that will comewith the money from the decals will notgo to 9th Ward residents who are skilledand can do the work.”

“So far,” he added, “9th Ward residentshave been left out of the process of rebuild-ing this community.”

McLendon welcomes the potential fortourists to bring more revenue to theneighborhood, however, and said tourcompanies can do more to help the area’sresidents bounce back.

“There’s a new restaurant in the HolyCross neighborhood called CaféDauphine,” Kelly says. “While we can’tmandate this, we’d certainly love it if thetour companies would come by and dropfolks off for refreshments and conversation.These things will go a long way towardhelping this neighborhood recover.” •

$350Price per vehicle annually for apermit that will allow tour guideoperators to operate in the 9th

Ward under a proposal from CityCouncilman Ernest Charbonnet.

The money raised would gotoward blight eradication andupkeep in the neighborhood.

“What’s to stop another neighborhood from saying that it

needs help to recover from the storm and push for

a fee on tour operators?”I S A B E L L E C O S S A R T

Tours by Isabelle


The East St. Tammany Chamber of Commerceand Slidell Memorial Hospital will hostBusiness After Hours from 5 to 7 p.m. at thehospital, 1495 Gause Blvd. This networkingevent will include refreshments and raffles. Formore information, visit www.estchamber.com.

Dec. 6The Association for Corporate Growthwill host its luncheon meeting from 11:30a.m. to 1:30 p.m. at the IntercontinentalHotel, Les Continents Room, 444 SaintCharles Ave. Following a networking oppor-tunity, Merritt Lane, CEO of Canal BargeCompany, will speak. Admission is free tomembers and $50 for non-members. Formore information, visit www.acg.org.

Dec. 8 Cross Gates Family Fitness and the East St.Tammany Chamber of Commerce will hostthe Reindeer Run at 8 a.m. on Steele St. Therun will benefit St. Tammany ProjectChristmas. Pre-registration is $25 per person.For more information, visit www.cross-gatesclub.com or call (985) 643-3500.

Dec. 9The Commercial Investment Division of the NewOrleans Metropolitan Association of Realtors willhost Canal Street Race for CrimestoppersGNOat 8:15 a.m. at City Park. For more information,visit www.crimestoppersgno.com.

The Junior Auxiliary of Slidell will host itsannual Tour of Homes from noon to 4 p.m,featuring some of the best decorated homes inthe Slidell area. Admission is $20, with pro-ceeds benefitting projects that assist children.For more information, visit www.jaslidell.org.

The West St. Tammany Chamber of Commercewill host the Northshore Rising Professionals’Christmas Party from 6 to 9 p.m. at K. Gee’sRestaurant, 2534 Florida St. in Mandeville. Thisnetworking event will include drink specials andan ugly sweater contest. For more information,visit www.sttammanychamber.org.

BankingWhitney Bank has hiredMaria Gutierrez as mort-gage loan originator.

EducationThe University of NewOrleans has hired JamesPayne as provost and vicepresident of academicaffairs.

EnergyLaredo Offshore Serviceshas hired Connie Babin assales manager.

EngineeringJensen Maritime Consultantshas hired Jianjun Qi as navalarchitect.

Neel-Schaffer Inc. hashired Tej Kour as sewerengineer.

Financial servicesMassMutual’s StevenFisher has earned the char-tered special needs consul-tant designation.

General businessPatriot Title has promoted Marie Growdento closing supervisor.

US Risk Management has hired KenTabony as safety services manager.

Solutient has hired Janna Jackson asgrant accountant.

The Magnolia Cos. of Louisiana has pro-moted William Cunningham to vice presi-dent of operations, Justin Tassin to vice presi-dent of maritime operations, Gary Smith tovice president of acquisitions and investments,Alton Johnson to vice president of customerrelations, Melanie Maurin to executive direc-tor of corporate finance, and HaroldMarchand to human resources director.

Health careThe Touro Infirmary Foundation has hired

P E O P L E

AROUNDTOWN

Shon Baker as director. Ochsner Medical Center has hired

Drs. Maxime Savard and Fawad Khanas physicians.

InsuranceThe Louisiana MutualInsurance Co. has hiredEric Mason as director ofbusiness development.

LawKelly Duncan, partner atJones, Walker was elected to theInternational Masters of Gaming Law.

Thomas Shepherd, a partner at JonesWalker, was elected to the InternationalAssociation of Gaming Advisors.

Baker, Donelson, Bearman, Caldwell &Berkowitz has hired JosephAtiyeh and Joseph Greenas associates in the advoca-cy department.

Phelps Dunbar hashired Alexis Butler as alabor and employmentpractice associate.

Real estate Phoebe Whealdon ofColdwell Banker has com-pleted the Realtor e-Procourse through theNational Association ofRealtors. Gardner Realtors has hiredGwen Doll as agent in itsUptown office.

TechnologyBellweather Technologyhas hired Joey Coakley assenior systems engineer,Michael Leach as communi-cations manager and Corbett Simons asdirector of managed services.

Nov. 16 The Jefferson Chamber of Commerce will hostits Mayors’ Luncheon from 11:30 a.m. to12:30 p.m. at the Royal Palm, 1901 ManhattanBlvd., Harvey. The luncheon is open to thepublic. Admission is $35 for members and $45for non-members. For more information, visitwww.jeffersonchamber.org or call 835-3880.

The East St. Tammany Chamber of Commercewill host Effective Techniques for Using

C A L E N D A R

Maxime Savard Shon Baker Fawad Khan

Ken TabonyMarie Growden Janna Jackson

Alexis Butler

Steve Fisher

Facebook in Business from 9 a.m. to noon atSlidell Memorial Hospital. Admission is free. Formore information, visit www.estchamber.com.

Nov. 17The American Heart Association will host theNew Orleans Heart Walk at 8 a.m. at AudubonPark, Shelter 10. The walk is open to the public.Proceeds will benefit heart disease and strokeresearch and educational programs in theGreater New Orleans area. For more informa-tion, visit www.americanheart.org.

Nov. 22Bridge House-Grace House will host itsannual Thanksgiving dinner from 11 a.m. to 2p.m. at Grace House, 1160 Camp St.Following dinner, clothing will be distributedfrom local thrift stores. For more informationor to contribute, call 821-7135.

Nov. 28The East St. Tammany Chamber of Commercewill host its Emerging Young Professionalsquarterly luncheon from 11:30 a.m. to 1 p.m. atMi Patio, 2170 Gause Blvd., Slidell. Ryan Lowewill be the guest speaker. For more information,visit www.estchamber.com.

The New Orleans Chamber of Commerce willhost Chamber After 5 at Rubensteins, 102 St.Charles Ave., from 5:30 to 7:30 p.m. The net-working event will include hors d’oeuvres,complimentary drinks and door prizes.Admission is free for members and $10 fornon-members. For more information, visitwww.neworleanschamber.org.

The West St. Tammany Chamber ofCommerce will host its annual business appre-ciation luncheon from 11:30 a.m. to 1p.m. atthe Clarion Inn & Suites Conference Center,501 N. Highway 190, Covington. Admissionis $30 for members and $35 for non-members.For more information, visit www.sttammany-chamber.org or call (985) 273-3008.

Nov. 29The East St. Tammany Chamber of Commercewill host Business After Hours from 5 to 7 p.m.at Reine Diamonds & Fine Jewelry, 1736 GauseBlvd., Slidell. This networking event willinclude refreshments and a raffle. For moreinformation, visit www.estchamber.com.

Nov. 30The Louisiana State Bar Association will hostthe annual Class Action/Complex LitigationSymposium from 8 a.m. to 5 p.m. at The Ritz-Carlton Hotel, 921 Canal St. Mark Geragosand Mark Lanier will be keynote speakers. Formore information, visit www.lsba.org or call691-0137.

Dec. 5The Hammond Chamber of Commerce willhost Ham’nd Eggs from 7:30 to 9 a.m. atCypress Pointe Surgical Hospital, 42570Airport Road. This breakfast networking eventis open to the public. For more information,visit www.hammondchamber.org.

The New Orleans Chamber of Commercewill host a business lunch featuring MayorMitch Landrieu from 11 a.m. to 1 p.m. atthe Hyatt Regency, 601 Loyola Ave. Formore information, visit www.neworlean-schamber.org or call 799-4260.

Justin Tassin WilliamCunningham

Gary Smith

Melanie Maurin Alton Johnson HaroldMarchand

Michael Leach Joey Coakley Corbett Simons

Gwen Doll

PhoebeWhealdon

Maria Gutierrez

Tej Kour

Jianjun Qi

Eric Mason

The following are the top residential and commercial permitsawarded for parishes in the New Orleans area in the week prior toNov. 2. Commercial permits valued at $100,000 and more andresidential permits valued at $50,000 and more are listed.

Jefferson Parish TOP COMMERCIAL PERMITS$840,000, 2932 Highway 90, Westwego, 3D-Development

P E R M I T S

continued on page 29

Send us your people newsCityBusiness welcomes submissions for the“People,” “FYI” and “Calendar” sections. To be considered for inclusion in a coming issue, information must be received in the CityBusiness editorial office 10 days prior to the anticipated publication date. Submissions, including photographs, are published subject to space availability. Color photos submitted by emailshould be a head shot in jpeg format, with measurements of 3x3 and 200 DPI. The return ofphotos cannot be guaranteed. Please direct all sub-missions to Around Town, CityBusiness, 3445 NorthCauseway Blvd., Suite 901, Metairie, LA 70002.Submissions may be emailed to:Duncan Brown at [email protected] photo attachments and submissions must include the subject’s name.


Liz Baldini293-9213

[email protected]

Jennifer Forbes293-9731

[email protected]

Cassie Foreman293-9222

[email protected]

Coco Evans Judd293-9288

[email protected]

Jaclyn Meith293-9229

[email protected]

20132013 EDITORIALCALENDAR

APRIL5 Health Care

List: Acute Care Hospitals

1219

28

Public CompaniesList: Public Companies

14

Health CareList: HMOs/PPOs & Point of Service Plans

21Law Firms - In House CounselList: Law Firms

Real EstateList: Largest Office Buildings

DECEMBERNOVEMBEROCTOBER

SEPTEMBERAUGUST

Real EstateList: Warehouse Space

Corporate Gift GuideAdvertising Section

Law FirmsList: Independent CaterersConstruction

5Banking/Financial ServicesList: Credit Unions

19

12

Accounting/Small BusinessList: Highest Paid Public Company Executives

16 Law FirmsList: Highest Paid Executives in StateGovernment

29

27

4

11 Health CareList: Women Owned Businesses

Jefferson ParishBusiness Report

18 Law FirmsList: Law Firms

Insurance/InvestmentsList: Title Companies

Dining & CateringList: Louisiana & Gulf Coast CasinosAccounting

TechnologyList: Printers

Health CareList: Diagnostic Imaging Centers

Law FirmsList: Shopping Centers

Health CareList: Employment Agencies

13

Holiday Party PlanningList: Largest Hotels

23

ConstructionList: General Contractors

20

Insurance/InvestmentsList: Best Restaurants

EducationList: Private Secondary Schools

7

6

TechnologyList: Computer Hardware Retailers

FEBRUARY1 Banking/Financial Services

List: Mortgage Companies

88Law FirmsList: Court Reporting Firms15

Real EstateList: Residential Real Estate Companies

22

Health CareList: Mental Health Care Facilities

TechnologyList: Telephone/Telecommunications Companies

22 EducationList: Private Elementary Schools

1

Insurance/InvestmentsList: Property & Casualty Insurance Agencies

Real EstateList: Commercial Leasing Companies

Real Estate Trends November 29

Health Care Annual March 29

Homebuyerʼs Guide April 5

26

EnergyList: Engineering Firms

EnergyList: Oil & Gas Production Companies

15 Top Private CompaniesList: Private Companies

MARCH

26

JUNE

Health Care Trends Sept. 27

Banking/Financial ServicesList: Savings & Loans

25

18

1522

6

1320Banking/Financial Services

List: Banks

JULY

JANUARY4

Banking/Financial ServicesList: Stock & Bond Brokerage Firms

11

18

EducationList: Two-Year CollegesList: Health & Fitness Centers

25 EnergyList: Oil & Gas Production Companies

AccountingList: Accounting Firms

Book of Lists

Real EstateList: Architectural Firms

Jefferson ParishBusiness ReportList: SBA Lenders

Year In ReviewList: Seafood Supplies27

29 Ports & TransportationList: Custom House Brokers/Freight Forwarders

30 Ports & TransportationList: Deep-Draft Ports

29 Ports/TransportationList: Steamship Agencies

24

Insurance/InvestmentsList: Life Insurance Agencies

10

ConstructionList: Landscape Contractors

Fastest Growing Companies

17

Banking/Financial ServicesList: Banks/S & L Directors

3MAY

31

EducationList: Four-Year Colleges

North ShoreBusiness ReportDining & CateringList: French Quarter Hotels

Real EstateList: Commercial Property ManagersNorth ShoreBusiness Report

$467,000, 1512 Jefferson Highway, New Orleans, Ochsner HealthSystems$450,000, 209 Concourse C, Kenner, Armstrong International Airport$450,000, 313 Veterans Memorial Blvd., Metairie, 2121 Borders $370,000, 918 Edwards Ave., Harahan, Reinhart Food Service $209,000, 2350 Park Place Drive, Gretna, Cedarwood Apartments$183,000, 6121 River Road, Avondale, Archdiocese of New Orleans$130,000, 4045 Williams Blvd., Kenner, Jack Carbonnet

TOP RESIDENTIAL PERMITS $60,000, 3517 8th St., Metairie, Vanessa Marcello

Orleans Parish TOP COMMERCIAL PERMITS$200,000, 1820 Calhoun St. $170,000, 4601 Dryades St. $162,000, 1226 S. Carrollton Ave. $149,000, 1100 Poydras St., Christie Bowling $100,000, 115 Decatur St.

TOP RESIDENTIAL PERMITS$400,000, 6224 Canal Blvd.$340,000, 5831 Memphis St.$228,000, 2213 & 2215 Valmont St., Christopher Hammond $251,000, 3500 Rue Michelle$217,000, 240 Hay Place, Roland Hummel $150,000, 536 Dumaine St.$140,000 each, 1300 Rivieria Ave. & 5222 Cartier Ave.$130,000, 7191 Ridgefield Drive, Irma Addison $130,000 each, 7583 & 7587 Forest Glen Road, Tommy Oneal$130,000, 4611 Rosalia Drive

St. John Parish TOP RESIDENTIAL PERMITS$298,000, 769 Emma Drive, Reserve$240,000, 188 Riverlands Drive, LaPlace

St. Bernard Parish TOP RESIDENTIAL PERMITS $60,000, 1941 Todd Drive, St. Bernard, Bergeron Marine Service

St. Tammany ParishTOP COMMERCIAL PERMITS$450,000, 6061 Pinnacle Parkway, Covington

TOP RESIDENTIAL PERMITS $600,000, 2241 Sunset Blvd., Slidell, Hoang Dang $459,000, 612 Bocage Court N., Covington, Brett Henry $392,000, 460 N. Corniche du Lac, Covington$330,000, 479 Clayton Court, Slidell $280,000, 22576 Lowe Davis Road, Covington, William Childre $262,000, 394000 Lincoln Road, Slidell, Edwin Favre $175,000, 120 Coushatta Circle, Madisonville $130,000, 700 Block Mirabella Lane, Covington $130,000, 164 Faye Daye Drive, Madisonville $109,000, 103 Palm Beach Blvd., Madisonville

AROUNDTOWNcontinued from page 28

Construction permits weeklyThe following is a breakdown of commercial and residentialconstruction permits for parishes in the New Orleans area,with a focus on commercial projects valued at more than$100,000 and residential projects more than $50,000. Thedata is for the week prior to Nov. 2.

Commercial permitsParish Value Units AverageJefferson $3.1million 8 $387,375Orleans $781,000 5 $156,200St. Tammany $450,000 1 $450,000

Residential permitsParish Value Units AverageJefferson $60,000 1 $60,000Orleans $3.7 million 31 $120,645St. Bernard $60,000 1 $60,000St. John $538,000 2 $269,000St. Tammany $3.5 million 18 $196,333Source: Treen Report

Construction permits year-to-dateThe following is a breakdown of commercial and residentialconstruction permits for parishes in the New Orleans area,with a focus on commercial projects valued at more than$100,000 and residential projects more than $50,000. Thedata is for the week prior to Nov. 2

Commercial permitsParish Value Units AverageJefferson $131.6 million 209 $629,665Orleans $493.6 million 370 $1.33 million

Residential permitsParish Value Units AverageJefferson $ 40.76 million 207 $196,908Orleans $336.3 million 2,024 $166,156St. Bernard $1.68 million 19 $88,421St. John $4.8 million 25 $193,520Source: Treen Report


Business MarketplaceST.BERNARD EDF

Economic Development FoundationOpen Executive Director Position

Seeking individual with managerialexperience. Emphasis on marketing

and communication skills.Deadline to apply: November 30, 2012

For details visit our website:www.Stbernardforward.org

or Call 504-376-3701; 504-277-4009

EMPLOYMENT New Orleans CityBusiness is looking for an experienced journalist to lead our online efforts. The ideal candidate willhave a background in reporting, editing and packaging content for the web and email newsletters.

We want to do more than simply duplicate our newspaper stories. Our goal is to provide a unique product to ourgrowing base of website and email subscribers, so you'll be be asked to keep our operation on the forefront of onlinedevelopment. You'll also be asked to manage a team of reporters and steer their online efforts under the guidance ofthe editor in chief.

If you're at all familiar with our news market, you know that change is in the air. We're not standing still while ithappens around us, so we're looking for someone who will work to distinguish us as the region's business newsleader.

Social media experience is desired as it pertains to news gathering and audience development, and videography andvideo editing experience are favored to add multimedia content to our online coverage.

Please send an original cover letter telling us why you're the best fit for this position and why this is the right move foryour career. Also be sure to include your resume and links or attachments showing samples of your work. No phonecalls please. [email protected]

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PUBLISHER’S NOTICE: All real estate advertised herein is subject to the Federal Fair Housing Ace and the Louisiana Open Housing Act, which make it illegal to advertise any preference, limitation, or discrimination because of race, color, religion,sex, handicap, familial status, or national origin, or intention to make any such preference, limitation, or discrimination. We will not knowingly accept any advertising for real estate which is in violation of the law. For more information, call theLouisiana Attorney General’s Office at 1-800-273-5718.

The Loan & Mortgage Prestige PreviewRates subject to change daily - to find out what the changes are call your “Lender.”

Lenders Phone Numbers

Fixed Conform 30 Year 15-Year

3-5-7 Year ARM

FHA Comments & Other Programs Contact Person

COASTAL MORTGAGE E.W. King (504) 866-5626 FAX (504) 866-1966

3.25% pts. 0 LIP 30 APR 3.525%

2.75% pts. 0 LIP 30 APR 2.768%

Jumbo 30 year 4.25% pts. 0 LIP 30 APR 4.301%

3.25% pts. 0 LIP 30 APR 4.113%

• Please visit our website: www.CMCNewOrleans.com • Available for appointments Saturday & Sunday • A local lender with over 27 years experience • Coastal Mortgage is licensed in LA & MS • Underwater? Call us about HARP 2.0 • Pre-approved same day

COASTLAND FEDERAL CREDIT UNION Mortgage Department (504) 834-2780 FAX (504) 889-6892

3.250% pts. 1 LIP 45 APR 3.366%

2.750% pts. 1 LIP 45 APR 2.955%

Conventional fixed 3.375% pts. 0 LIP 45 APR 3.412%

Jumbo 30 yr 3.750% pts. 1 LIP 30 APR 3.854

• Additional rates available with a NO CLOSING COST OPTION! • Call for our 10 and 20 year rates. • Visit our website and apply online at www.coastlandfcu.com

FBT MORTGAGE, LLC Kevin Keating (504) 586-2625 FAX (504) 393-9916

Call for Rates Call for Rates Call for Rates Call for Rates

• A subsidiary of First Bank and Trust • www.fbtonline.com • Conventional, FHA, Rural Development, VA and Jumbo loans

GREATER NEW ORLEANS FEDERAL CREDIT UNION Terry Fallon (504) 459-8155 FAX (504) 459-8159 [email protected]

3.375% pts. 0 LIP 30 APR 3.500%

2.750% pts. 0 LIP 30 APR 2.909%

N/A N/A • Over 75 years of service • Apply online @ www.gnofcu.com • Federally insured by the National Credit Union Administration (NCUA).

MILLER HOME MORTGAGE, LLC Ross L. Miller (888) 277-0306 (504) 455-7002 FAX (504) 455-3722

3.125% pts. 0 LIP 45 APR 3.398%

2.75% pts. 0 LIP 45 APR 3.127%

5 yr- 2.625% pts. 0 LIP 45 CAPS- 1st 5 Annual. 2 Life 5 APR 3.025%

3.25% pts 0 LIP 45 APR 4.102%

With 19 years experience you will always speak with an experienced professional loan officer. We offer conventional, FHA, VA and Rural Development loans. Many of our loans close with electronic signatures and you can close at your location or ours on refinances. We are licensed in LA & TX. www.millerhomemortgage.com

PREMIER LENDING James Talbot (504) 888-4104 FAX (504) 888-4109

3.125% pts. 1 LIP 30 APR 3.395%

2.375% pts. 1 LIP 30 APR 2.708%

Jumbo 30 year 3.625% pts. 1 LIP 30 APR 3.881%

3.250% pts. 0 LIP 30 APR 4.178%

• A local lender with over 15 years of service. • Get the straight talk that you deserve. • www.PremierLending.org

WHITNEY BANK Yvonne Marinovic (504) 838-6300 FAX (504) 849-6736

3.25% pts. .375 LIP 45 APR 3.475%

2.625% pts. .125 LIP 45 APR 2.99%

3.125% pts. 0 LIP 45 APR 4.048%

• 30 year and 15 year conventional rates include 1% origination. • Government rate DOES NOT include an origination.

Attention All Loan & Mortgage CompaniesIf your company is interested in participating or to answer any questions you may have, please contact Jaclyn Meith

[email protected] • (504) 293-9229 • (FAX) 832-3534Rates listed in the above advertisements are based on a credit score of 740, and a loan of $200,000, with a loan to value of 80% for conventional financing and 96.5% for FHA financing. Jumbo loans are based on credit score of 780 and loan amount of $500,000, with a loan to value of70%. The APR may increase after consummation and may vary. CityBusiness does not guarantee the accuracy of the information appearing above. All information above is subject to change without notice. The above advertisers all pay a fee to be listed in this table and provide samplerates based on the given scenario described here.

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METAIRIE To Place Your Ad in the

COMMERCIALPROPERTY GUIDE

Call

JENNIFERFORBES

504-293-9731Standard ad size:

1 column x 2”Ad runs for 12 consecutive

weeks

Total cost = $450.Ads are prepaid

Select Properties, Ltd.3421 N. Causeway Blvd.

Borders Retail Center3131 Veterans Highway, Met.

Riverside Office Buildings I & II6660 & 6620 Riverside Dr., Met.

Available up to 2,500 sq.ft.

Causeway Highrise3421 N. Causeway Blvd., Met.

Available up to 9,800 sq.ft.

Ronnie R. Rauber, CPM®

(504) 833-4494c: (504) 915-3689

[email protected]

TOWER REALTY504-828-9700

REGIONS BANK TOWER3525 N. Causeway Blvd.

Excellent Corner LocationMinutes to Airport and

Downtown NOLA1,000 – 6,000 SF Available

A Full Service Bank and SandwichShop onsite

COLDWELL BANKER/GEICOBUILDING

4051 Veterans Blvd.Excellent Veterans Location

Surplus of Parking Minutes to Lakeside Mall,

Downtown & Airport

OFFICE SPACE3748 N. Causeway Blvd

$12.95 sq. ft.including daily janitorial,

utilities, full service

1,914 sq. ft.2,057 sq. ft.3,971 sq. ft.

Corporate Realty, Inc.Colleen K. Berthelot

504-581-5005

COMMERCIAL PROPERTY GUIDEFOR LEASE

3304 West Esplanade North, Metairie

Between N. Causeway and Severn2000 sq ft availableOverflow parking

Pam Burck 504-834-2722Miller Richmond [email protected]

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PUBLISHER’S NOTICE: All real estate advertised herein is subject to the Federal Fair Housing Ace and the Louisiana Open Housing Act, which make it illegal to advertise any preference, limitation,or discrimination because of race, color, religion, sex, handicap, familial status, or national origin, or intention to make any such preference, limitation, or discrimination. We will not knowinglyaccept any advertising for real estate which is in violation of the law. For more information, call the Louisiana Attorney General’s Office at 1-800-273-5718.

SKYE & SUSAN PRICERealtor GRI, ABR, CRS

504.388.7593 OR 504.908.3317

[email protected]

Gardner Realtors1820 St. Charles Ave. • New Orleans, LA 70130

504-891-6400 • [email protected]

5319 S. LibertyLocation! Lovely raised cottagewith wonderful porch. Beautifularchitectural details includingwood floors with mahoganyinlay and crown moldings.Large rooms, 12'ceilings andlots of light throughout. Anychef would love the spaciousgourmet kitchen with stainlesssteel counter tops. Rear deckoverlooks the lush landscapedyard and brick patio. Off streetparking. Freshly painted exterior!

Wonderful light filled home on well landscaped park like grounds w/drive, garage, covered entertainment area,& pond. Great room across rear w/fab attached deck w/outdoor cook/bar area w/stone counter. Pine floors, nicedetail, flexible plan. Master has private bath & porch. 3 addt'l bdrms + bth off of large central space w/vaultedceiling. Living area includes 2 super totally separate/private 2bdrm, 1bth ground flr apts(great ceiling height).

$1,260,000

1022 Jefferson Avenue

Shotgun single with deep 161' lot and fenced yard, idealfor a contractor or first time buyer. Fixer-upper can beconsidered as a 2 bedroom if you use sunroom or sittingroom. Amenities include a security system, porch/patio,washer and dryer, dishwasher, refrigerator. The nearestschools are Nelson Elementary School, and Sophie B.Wright Inst. Of Academic Excellence. $249,000

Shotgun

Merritt Lane, BRC Nickie Lane

• Superstar Team2004, 2005, 2006,2009, 2010

• Life Member of Top of theLatter Club

• Life Member Million $ Club.

• 26 years licensedreal estate agent

• 47 years acquiring/managing real estate &investment property.

• 2002-2011 Sales $150+ Million

• Commercial RealEstate, Office Leasing, Sales& property management.

• 2009 #1 Superstar Team,2010 #2 Superstar Team

Let Us Be Your Real Estate Team(504) 866-2785 (Office)(504) 581-5263 (Home)(504) 450-1904 (Cell)

[email protected]

Each ERA Real Estate Powered Company is Independently Owned and Operated.WE ARE FIRST RESPONDERS FOR REAL ESTATE! TRY US!

3966 Laurel St.

Sale Pending

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Letty Rosenfeld, GRI, CRS

Life Member Million Dollar Club with over 20 years experience.Charter Member Latter & Blum’s “Top of the Latter” Club

Specializing inUptown, Lakefront andOld Metairie Properties

e-mail: [email protected]: www.lettyr.com

Cell 236-6834Office 866-2785

Honored by the New Orleans Metropolitan Association of Realtors as aTop Ten Producer every year from 1998 through 2011.

Latter & Blum, ERA Powered is Independently Owned & Operated.

8005 PLUM

Beautiful Uptown Victorian near Carrollton Ave on thecorner of Short. Fabulous wrap-around porch, 10.5 footceilings. Gorgeous architectural details- wood floors,fireplaces, millwork, crown molding, detailed windows.Kitchen has granite counters, island, and charmingbreakfast room. 4 bedrooms, 3.5 baths, 3100 sq ft. $525,000

New Listi

ng!

Brooke ArthursN.O. Top Agent for 2000 - 2011

FOR SALE NOW!!!

Direct: 259-8311Office: 866-2785

5239 Marcia Ave. $ 729,000704 Webster $ 795,000217 Audubon Blvd. $3,420,0001527 Washington Ave. $1,595,000402 Felicity $ 545,00010 Nassau Dr. $2,800,0001907 Palmer Ave. $ 4,100,0003721 St. Charles Ave. Unit 6A $ 880,00041 Versailles Blvd - SOLD $ 590,00070 Versailles - SOLD $ 310,00013 Nassau Dr. - SOLD $1,575,000405 Audubon - SOLD $ 685,0005014 Laurel St. - SOLD $ 535,000621 Arabella - SOLD $ 849,0005914 Coliseum - SOLD $ 835,000303 Audubon St. - SOLD $ 788,000625 St. Charles Ave. PHA -SOLD $ 1,675,0005508 Hurst St. - SOLD $1,549,0001444 Henry Clay - SOLD $2,600,0006035 Laurel St. - SOLD $ 948,0006021 Constance St. - SOLD $ 695,000

Each ERA Real Estate Powered Company is Independently Owned and Operated.

Spectacular property on magnificent 150' x 155' landscaped lotw/great parking & a beautiful four bedroom house in perfect con-dition - Large gracious rooms full of light from Palladian style win-dows and gorgeous wood & tumbled marble floors - Fab kitchenleads to great den both of which overlook the pool & covered porch- Great sunroom, breakfast rm & study - Upstairs has lovely mastersuite plus 3 other bdrms & 2 bths - This is a real beauty!

217 AUDUBON BLVD. • $3,420,000

Beautifu

l

Magnificent stone mansion in magnificent condition! Spaciousformal rooms, solarium overlooking side garden, exceptionallylarge den, glass walled dining room w/slate floors overlooking thelarge backyard & pool -Gorgeous wood paneled library - Fabulouskitchen & breakfast room - 2nd floor has 5 large bdrms includinga fabulous master suite w/great closet space. 3rd flr guest suite -Gorgeous property - Impeccable condition.

1907 PALMER • $4,100,000

Exquisite home on 50 park like acres on Bogue FalayaRiver in Folsom. This home is full of design, style, and

unique architecture. Features 8400 square feet of livingspace, 5 bedrooms, 4.5 full baths, pool and outdoor kitchen.

David Holloway • 985-320-8173office 985-796-0300 • [email protected]

Specialists in Country PropertiesP.O. Box 1244, Folsom, LA • www.smithandcore.com

2139 Esplanade $1,200,000

512 Wilkinson Row $445,000

1115 Prytania Unit 303 $355,000

1119 Dauphine #6 $339,000

824 Burgundy #5 $275,000

919 St Philip #6 SALE PENDING $204,000

421 Burgundy #1 $180,000

421 Burgundy #3 $180,000

812 Esplanade #5 $159,000

1233 Esplanade #3 SALE PENDING $140,000

1233 Esplanade #16 NEW PRICE $137,500

1608 N. Broad $82,500

SAM’S FEATURED

PROPERTIES FOR SALE

FQR’s 2011

Top Producer

For moreinformation,

contact

SAMARA D. POCHÉdirect. 504.319.6226e-mail. [email protected]

Lights! Camera! Action! This GrandDame is ready for her closeup! Zoomin on this Greek Revival styletownhouse. Built in the 1830's.Most architectural details in tact.Double gallery with detailedcolumns. Lush double sized lotoffers privacy and a sense of place.Double parlors plus expansive diningroom exudes style and distinction.Three apartments incorporated intohouse can be income producing.Like all aging starlets, needs love.

www.frenchquarterrealty.com

French Quarter Realtyw i l k i n s o n & j e a n s o n n e

s i n c e 1965

504.949.54001041 Esplanade Ave. New Orleans, LA

2139 Esplanade • $1,200,000

10 Swan SOLD....................$1,300,0001429 Jackson Ave................$1,098,000500 Audubon SOLD.............$998,00022 Farnham SOLD...............$950,0001566 Calhoun SOLD............$875,0005111 Pitt SOLD....................$749,0001240 Eighth SOLD...............$725,0001130 Cadiz SOLD.................$649,0006308 Camp SOLD ...............$549,0004737 Baronne SOLD............$549,000924 Bellecastle SOLD ..........$485,000234 Audubon St..................$479,0001117 Pine SOLD...................$475,0005120 Chestnut SOLD............$439,000

6300 Colbert St. SOLD..........$419,0004 Stilt SOLD..............................$415,0004440 Bienville SOLD............$399,000915 Cadiz SOLD.....................$396,000422 Henry Clay .....................$378,0005828 General Diaz SOLD.....$349,0004701 Iberville SOLD ..............$335,0007705 Hampson SOLD............$333,000817 Aline SOLD .......................$329,0007400 Cohn...........................$289,000612 Gen. Taylor SOLD ...........$289,0008533 Freret ..............................$287,0002619 St. Charles Unit C .........$219,0007008 Pritchard Pl .................$194,000


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#1 Greater New Orleans area Top Producer as recognized in CityBusiness for 2006-2009 #1 St. Tammany Parish Sales 2002-2010

Creating a Higher Standard of Excellence in Real EstateStevie Mack985.630.1934 or [email protected]

Latter & Blum, ERA Powered is Independently Owned & Operated.

1151 North Causeway Blvd.Mandeville, LA 70471

Office: 985.626.5687www.StevieMack.net

CALL STEVIE MACK FOR YOUR REAL ESTATE NEEDS

108 E. 15th Ave. / CovingtonBeautiful home situated on 2 lots

in the heart of old Covington

714 Tete L’Ours / MandevilleOn the golf course in Beau Chene Subdivision

620 Windermere Chase West / MadisonvilleSpectacular custom built home on 2 lots in

Prestigious Windermere Subdivision

501 E Guidry St. / CovingtonFabulous home nestled on an oversize

lot in the heart of old Covington

Bob Mack, Charlotte Bordelon & Danielle Fournierbrrbettttalla@[email protected]

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FOR SALE

600 Carondelet St., Suite 609, New Orleans, LA 70130

504-581-1111 Lindsey Randon - ext. 27 • Cell: 504-231-7217

Don Randon - ext. 21 • Cell: 504-231-7213

The above information was obtained from sources believed to be accurate but is not warranted by Don Randon Real Estate Inc.

2636 Edenborn, Metairie, LA 70002

CLIMATE CONTROLLED WAREHOUSE

3/8/12

• Located just off Veterans Blvd.behind Lowe’s

• Approx. 31,710 SF of land • Approx. 22,000 SF of climate

controlled warehouse

• Approx. 3,000 SF of offi ce space • Great location • Building is in excellent condition • Zoned BC-2 • Can be used as retail, office, warehouse, etc.

For further information please contact:

LAND ON WOLF RIVER

-197 beautiful high rolling acres with over a mile offrontage on the Wolf River above Pass Christian.-Gorgeous hardwoods, fauna, flora and wildlife.

-15 minutes to harbors, good restaurants and casinos.-Large sandbars on river and 6 acre pond for recreation.

-Spectacular property for family compound or development.-One hour from New Orleans. No water in Katrina.

Priced well below market 228-234-2838

2425 St. Thomas - Irish Channel . . . . . . . . . . . . . . . . $265,00021 Audubon Blvd. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $749,0006401 Fontainebleau Dr - NEW PRICE!. . . . . . . . . . . . $820,0001002 Bienville Unit 2 . . . . . . . . . . . . . . . . . . . . . . . . . . $350,00020 Arbor Circle “The Arbors” . . . . . . . $65,000 - VACANT LOT!120 Rosewood Drive. . . . . . . $495,000 - UNDER CONTRACT1027-25 Crete Street . . . . . . . . . . . . . . . . . . . $249,000 - SOLD!474 Pine St. . . . . . . . . . . . . . . . . . . . . . . . . . . $589,000 - SOLD!2232-34 Pine St. - Duplex. . . . . . . . . . . . . . . $229,000 - SOLD!2401 Broadway St. . . . . . . . . . . . . . . . . . . . . $459,000 - SOLD!2409 Audubon St. . . . . . . . . . . . . . . . . . . . . . $445,000 - SOLD!2237 Audubon St. . . . . . . . . . . . . . . . . . . . . $429,000 - SOLD! 920-922 Toledano . . . . . . . . . . . . . . . . . . . . $315,000 - SOLD!2523 Audubon St. . . . . . . . . . . . . . . . . . . . . $299,000 - SOLD!4427 St. Charles Ave. “The Gates”. . . . . . . . . . $285,000 - SOLD!

Tricia KingGardner Realtors

504-722-7640Specializing in Luxury, Historic

and Investment Real Estate

Call me to find out how our exclusive marketing

tools can benefit you. (504) 722-7640

YOUR EXQUISITE HOME IS WAITING FOR YOU AT

WWW.TRICIAKING.COM

Beautiful makeover, charming home located in the Irish Channel. Great for owner occupant! Let the tenant unit rented at $800 per month assist with the note.

Home features: refinished wood floors, exposed brick chimneys, granite, central air & heat, security system, storage shed, recessed lighting, indoor laundry and much more! The owner’s unit includes: stainless appliances, island, bar counter,

new downstairs bath room, open floor with separate bedrooms. 2336 unit 3 bedrooms and 2 full baths. 2334 unit 1 bedroom and 1 full bath.

2334-36 St. Thomas Street

SERINO REALTY GROUP, LLCPatrice J. Serino, Realtor

504-427-8710Email: [email protected]

Licensed in Louisiana

The information included herein, is deemedreliable but not guaranteed and should be

independently verified. September 18,2012

* Available only to qualifi ed customers through Mercedes-Benz Financial Services at participating dealers through November 30, 2012. Not everyone will qualify. Advertised 30 month lease payment based on MSRP of$38,755 less a suggested dealer contribution resulting in a total gross capitalized cost of $37,265. Dealer contribution may vary and could affect your actual lease payment. Includes destination charge, automatictransmission and Premium 1 Package. Excludes title, taxes, registration, license fees, insurance, dealer prep and additional options. Total monthly payments equal $10,470. Cash due at signing includes $2,999capitalized cost reduction, $795 acquisition fee and fi rst month’s lease payment of $349. No security deposit required. Total payments equal $14,264. At lease end, lessee pays for any amounts due under the lease, anyoffi cial fees and taxes related to the scheduled termination, excess wear and use plus $0.25/mile over 25,000 miles and a $595 vehicle turn-in fee. Purchase option at lease end for $25,966 plus taxes (and any otherfees and charges due under the applicable lease agreement) in example shown. **Rate applies only to select Mercedes-Benz Model Year 2013 vehicles. 2.49% APR fi nancing for 24 months at $42.76 per month, per$1,000 fi nanced or 2.49% APR fi nancing for 36 months at $28.86 per month, per $1,000 fi nanced. Excludes leases and balloon contracts. Must take delivery of vehicle by November 30, 2012. Not everyone will qualify.©2012 Authorized Mercedes-Benz Dealers For more information, call 1-800-FOR-MERCEDES, or visit MBUSA.com.

The 2013 C 250 Sport Sedan

Offer Ends Soon

2.49% APRFOR 24 TO 36 MONTHS

**

Whether you’ve been naughty, nice or somewhere in between, the Mercedes-Benz Winter Event offers the perfect holiday gift. Like the thrilling 2013 C-Class; the safe, secure M-Class; the newly refi ned GLK or the revolutionary E-Class. Visit your authorized dealer today, and give your holidays a storybook ending. Hurry, these offers end soon. MBUSA.com/WinterEvent

And to all a good offer.The Mercedes-Benz Winter Event.

349$FOR A 30 MONTH LEASE

$349$2,999

$795

$4,143

FIRST MONTH’S PAYMENTCAPITALIZED COST REDUCTIONACQUISITION FEE

CASH DUE AT SIGNING

*

Mercedes-Benz of New Orleans3727 Veterans Memorial Blvd., Metairie, LA•(504) 456-3727