The Future Looks Bright for Camellia Bay, a New Casino Project Planned for St. Tammany

 

P2E, also known as Peninsula Pacific Entertainment, has developed a plan to build a $329 million casino resort called Camellia Bay in St. Tammany on the vacant land close to Interstate 10 twin spans. Developers have been working on the proposal for months now and are ready for the vote by St. Tammany voters this December.

The project can have a great impact on St. Tammany's economy. The casino would bring tourists to the area and draw them to other events and attractions that are helped along the Lake Pontchartrain waterfront in Slidell. Many locals are worried that the project could also have negative impacts on their community.

Some St. Tammany Community residents are concerned that the casino would bring crime and decline to property values. This is not necessarily the case according to the Convergence Strategy Group.

"Through the research we see moderately positive impacts from similar developments across the country all the way down to just no impact, but we have not been able to uncover the negative impacts that many communities have feared," said Suzanne Leckert, an author of the study.

CSG is a research firm that is based out of New Orleans. They have over 40 years of experience in studying the leisure and gaming industry. According to their study, they found that a casino in the Slidell area would likely have a "moderately positive to negligible impact on surrounding businesses."

The study included an intense look into the proposed development's impact on the community. This includes a range of impacts from small businesses and tourism to crime and marriage or divorce rates. They looked at data that has been collected from the Bureau of Labor Statistics, the U.S. Census, municipal governments and interviews with local leaders.

Property values will not drop according to the study. CSG cited that after MGM Springfield opened in Springfield, Massachusetts property values saw a 21.4% increase compared to the smaller growth increase of 2.3% - 14.3% in surrounding areas. Another casino close to home in Baton Rouge, L’Auberge Casino, saw a higher property value increase close to the casino.

"The community impact study provides an abundance of data and information for St. Tammany residents to take into consideration to help them make an informed decision about this project," Masingill said. "This project ... has really been reviewed, has been scrutinized from every single angle. We know that there's a significant campaign of misinformation and distortions and, look, we want people to have all of the information."

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The Northshore, the River Parishes and Jefferson Parish Will Now Be Connected Through Cultural Tours

The New Orleans area has a vast amount of great historical and cultural tours that both visitors and residents can enjoy. The St. Tammany Parish Tourist Commission, the River Parishes Tourist Commission and Jefferson CVB have come together to offer a unique tour that will begin on the Northshore, going to River Parishes and ending in Jefferson Parish. The tour will highlight the Native, Creole and African American people, heritage, culture and way of life in the triparish region and will be updated on a daily basis to cover different parts of history and culture.

The tour will start at the Northshore where patrons will visit places such as the Bayou Lacombe Museum highlighting the history of natives and a Three Sisters and Medicine Wheel Garden and the Fontainebleau State Park where 153 enslaved people who worked at Bernard de Marigny de Mandeville's sugar plantation have a historical marker. Other stops along the way will be at the Madisonville Historic Museum, Jean Baptiste Lang Creole House, the Dew Drop Jazz and Benevolent Hall, and the nine Native and African American markers on the Historic Mandeville Marker Tour.

The next stop will be in the Louisiana River Parishes. Patrons will tour Whitney Plantation and learn about the cruel labor slaves went through on sugar plantations. There is also a memorial to the 1811 Slave Revolt that is located at the plantation. The Destrehan Plantation will also be toured where an exhibit is housed honoring the 1811 Slave Revolt procession and the Rost Home Colony. On a lighter note, the tour will also go to the 1811 Kid Ory History House and the Historic Riverlands Soul River Musical Journey where life after slavery is represented.

The tour will end in Jefferson Parish where patrons will visit the Marsalis Mansion Motel Marker, Camp Parapet and learn about this safe haven for slaves that were housed here during the Civil War's Union's occupation. Local gospel artist Mahalia Jackson’s gravesite is also located onsite. Other destinations on the tour will include True Vine Baptist Church, the oldest and longest-running African American Church on the West Bank of Jefferson Parish and famous pirate Jean Lafitte's smuggling route which is now the Barataria Preserve of Jean Lafitte National Historical Park and Preserve.

The tour is a five-day tour and can be customized. The tour is ideal for groups of around 10 - 25 but can have up to 50 people. Martha Martinez of YAYA Louisiana Tours and Travel is a certified tour guide and will accompany and lead groups if desired.

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Existing Home Inventory Hits An All-Time Low

Realtor.com's December Housing Report shows that existing home inventory hit an all-time low. Existing home inventory has been low for a while but has been hit even harder since the pandemic. The December Housing Report reveals that homes for sale hit below 700,000 for the first time. This is a drop of 39.6% year over year with 449,000 fewer existing homes for sale than December 2019.

Newly listed homes have bounced back a little from the 8.7% decrease in November. December reported newly listed homes only being down 0.8% year over year. The country is seeing different improvements across the board. The Western and Northeastern regions are having the strongest improvements while the Midwest and South are lagging behind. The largest dip seen in new listings were in Nashville at -19.9%, Memphis at -18.5% and Charlotte at -16%.

As far as home prices, they continue on an upward trend into 2021. The report shows that the median listing price has increased 13.4 percent YoY to $340,000—though it’s just below the peak of $350,000. And within the nation’s 50 largest metros, prices increased by 8.8 percent—nearly the same as the month prior. The largest price gains were seen in Austin with a 20% increase, Riverside-San Bernardino with a 17.2% increase and New Orleans with a 16.8% increase.

“The shortage of homes for sale has been an ongoing issue for the last couple of years, but in December the combination of the holiday inventory slowdown and the pandemic buying trend caused it to dip to its lowest level in history,” said Realtor.com® Chief Economist Danielle Hale. “Looking forward, we could see new lows in the next couple of months as buyers remain relatively active, but a surge of new COVID cases may slow the number of sellers entering the market. Newly listed properties have shown mixed trends. While December’s data points to possible relief on the horizon, this figure has been impacted the most in areas with large COVID surges, and consistent improvement will be key in order to get out of this extreme shortage. We eventually expect to see improvements in the supply of homes for sale, especially in the second half of the year. Until then, finding a home will continue to be a top challenge for buyers across all price ranges.”

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Single-Family Home Construction Available on the Northshore

New Urbanism is alive and well in the Greater New Orleans area with Mixed-Use Developments being built where previously housing projects had stood.  Many developers are tapping into the multi-family construction industry, building apartment housing in popular neighborhoods.  Single-family home construction is taking a backseat to these types of developments as well as multi-family condo and townhome construction also in the city of New Orleans.  Because of this, people relocating to the New Orleans area as well as young people graduating from college and moving out are finding it harder and harder to find the traditional “first time home buyer home.”

Surprisingly, Millenials, according to the National Association of Home Builders, tend to want to live in single-family homes in the suburbs.  According to the NAHB’s survey, 75% want traditional new homes, and 66% prefer to live in the suburbs with only 10% choosing urban living, such as living in downtown New Orleans or the outlying areas.  While nationally this is a trend, the migration of Millenials may very well benefit the Northshore of the lake because in St. Tammany Parish, there are plenty of new homes for sale as well as lots for sale.

Since the Recession, home pricing has been somewhat unreliable, but now housing prices seem to have stabilized, so it is less difficult to acquire housing finance for new home buyers looking to buy their first, second, or even third home.  Another factor that may drive new home buyers to the north shore is the fact that inventory in popular, safe neighborhoods in New Orleans such as the Garden District, Bywater, Uptown, etc., is very scarce, prompting bidding wars among home buyers.  Young home buyers may get priced out of the market with competitive pricing being higher than normal.

Regardless of where the Millenials in the Greater New Orleans area choose to buy their new, single-family home, Bedico Creek Preserve is “ready” for any type of home buyer with 10 Neighborhoods from which to choose new homes for sale and lots for sale.  Lot pricing at Bedico Creek starts in the $40’s, and new home prices start in the $240’s.  If you are ready to view a lot for sale or new home for sale, Contact Bedico Creek at 985-845-4200 or E-mail Info@LiveBedico.com.

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Buy a New Home on the Northshore at Bedico Creek Preserve

When relocating to the Greater New Orleans area, you may want to buy a new home on the Northshore at Bedico Creek Preserve.  If you are considering relocating to the tight knit area of West St. Tammany Parish, you can enjoy the ambiance of downtown Covington, LA, which is located approximately 7 miles from Bedico Creek Preserve.  Living in Madisonville, Louisiana, at Bedico Creek gives you easy access to shopping, entertainment, and dining at the many locations of the two shopping areas Colonial Pinnacle at Nord Du Luc and Stirling Covington Shopping Center off of Highway 21.  In addition to the prolific shopping at mall stores such as JC Penny, Belk, and Lane Bryant, Colonial Pinnacle at Nord Du Luc and Stirling Covington Shopping Center also showcase box stores such as Academy Sports, Kohls, Best Buy, Marshalls, Target, Hobby Lobby, as well as the Hollywood Stadium 14 movie theater.  This Covington, Louisiana shopping area also features restaurants such as Olive Garden, Longhorn Steakhouse, Texas Roadhouse, Cracker Barrel, and Panera Bread Company.  For faster food and service, you can visit Steak & Shake, Firehouse Subs, and Dickeys Barbeque Pit.

Bedico Creek Preserve offers lots and homes for sale in its masterplanned community in St. Tammany Parish.  Lots for sale start in the mid $40’s, and new homes for sale begin in the $230’s.  If you are interested in building your own new, custom home or if you are looking to relocate to one of our existing homes for sale, you can find any lot or home in a selection of different neighborhoods in this St. Tammany Parish subdivision.  Contact Bedico Creek today to schedule your tour.  Call 985-845-4200 or E-mail Info@LiveBedico.com.

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