[StBernard] St. Bernard Parish real estate and growth contrasted to area parishes

[Westley Annis]

St. Bernard Parish real estate and growth contrasted to area parishes
 By Benjamin Alexander-Bloch, NOLA.com | The Times-Picayune 
on December 06, 2012 at 4:25 PM, updated December 06, 2012 at 6:28 PM Print

St. Bernard Parish property values were presented in stark contrast to
neighboring parishes during a jam-packed forum this week in Violet. While
home prices across the metro New Orleans area showed healthy gains between
2000-2011, consultants helping put together St. Bernard's master plan told
residents that median home prices in the parish were almost stagnant.

One consultant helping with the master plan told residents it is unrealistic
to expect St. Bernard Parish to grow back to its pre-Hurricane Katrina
population of approximately 65,000. 

The forum examined ways parish real estate, population and land use have
changed, for the better and worse, during the past 15 years and beyond, from
Hurricane Katrina to decades before, all the way back to the 1960s.

"St. Bernard used to be a place where the housing fit the needs for one's
whole life, from apartments to starter homes to nice move-up homes," said
Jeff Winston of Boulder, Co.-based MIG/Winston Associates, who is
spearheading St. Bernard's recently launched comprehensive master land use
and zoning plan process. "Now that appears less the case."

While the value of median homes in St. Bernard dropped only slightly from
2000 to 2011 -- from about $85,000 to $83,000 -- median home values in
Orleans, Jefferson, St. Tammany and Plaquemines parishes all increased by at
least $20,000, according to an analysis presented Monday by Charles Buki,
founder of Alexandria, Va.-based czb LLC, who is handling strategy and
analysis for the planning process.

St. Tammany led that pack, jumping about $53,000, from medium home values of
$184,693 in 2000 to $237,675 in 2011. Meanwhile, between 2000 and 2011, New
Orleans median home values jumped $31,121 from $138,524 to $169,645, and
Jefferson median home values rose about $20,000, from $125,554 to $145,947,
according the czb study.

St. Bernard's real estate market largely caters to families with combined
annual incomes of between $20,000 and $60,000, based on that study.

"It does not make financial sense to move (to St. Bernard) right now," Buki
told the about 200-strong crowd in Violet this week. "Right now, it makes
sense for the dollar stores to be here and for Wal-Mart to be here ... but
St. Bernard is not retaining families that can make choices except for folks
who already are emotionally attached to being here."

The czb study showed that St. Tammany generally attracts families with
combined incomes of between $100,000 and $200,000, and Jefferson caters to
families who have a $75,000 annual income.

Buki said it is unrealistic for St. Bernard to expect to get back to its
pre-Katrina population of about 65,000. He pegged the more realistic number
at 45,000.

"If you want things to change, you need to control the market, but it won't
change unless you can adapt," he said. "And property values are a function
of the demand to live here -- when it goes up, property values go up and
then you have more tax dollars to make improvements."

St. Bernard government will hold additional meetings on its comprehensive
planning process in the coming months. The process is expected to wrap up by
September.