STATE OF DOWNTOWN
A look into the economic health of Downtown New Orleans.
Letter from the President & CEO
Dear Downtown Stakeholders,
Downtown New Orleans continues to demonstrate remarkable resilience and forward momentum. This year’s State of Downtown report reflects a district that is not simply recovering from the disruptions of the past five years, or even the past twenty, but actively redefining itself as a 21st century downtown marked by renewed confidence, sustained visitation, and investment across a range of sectors that support its emergence as a vibrant, mixed-use urban core.
I am encouraged to see that Downtown is experiencing both stability and growth. Visitation remains strong, the residential population continues to increase, and employment across major industries has stabilized. These trends reflect a district that is not only a destination, but an increasingly attractive place to live and work.
Downtown’s office market remains foundational, with one of the lowest vacancy rates in the country and a strong employment base supported by the district’s concentration of legal, maritime, and institutional assets. Retail activity continues to evolve, with impressive overall occupancy led by food and beverage openings that are driving foot traffic and reinforcing Downtown’s role as a regional dining destination. Expanding innovation and entrepreneurship ecosystems, anchored by institutions, incubators, and co-working spaces, are helping to diversify the economy and create new opportunities. At the same time, continued investment in housing, public spaces, arts and culture, and mobility infrastructure is strengthening the overall experience of Downtown and creating opportunities for long-term growth.
Beyond these individual sectors, Downtown’s economic importance to the city remains critical. Representing approximately 14 percent of New Orleans’ total taxable real estate value and generating 30 percent of all sales tax collected by Orleans Parish businesses, Downtown continues to serve as a critical driver of the city’s fiscal health. These data points tell a clear story: Downtown New Orleans is stable, growing, and increasingly dynamic. Progress is being driven not by a single sector, but by a broad base of activity across visitation, residential growth, business investment, and innovation.
While challenges remain, we are optimistic about what lies ahead and grateful to the partners, businesses, residents, and visitors who contribute to Downtown’s ongoing success. Together, we are working to build a cleaner, safer, and stronger Downtown for generations to come.
Seth Knudsen President & CEO
Board +Staff
EXECUTIVE COMMITTEE
Chris R. Ross
NAI RAMPART | CHAIR
Alex Glaser
JONES WALKER | VICE-CHAIR
William Bradshaw II
REIMAGINE DEVELOPMENT PARTNERS | TREASURER
Ryan King
DELTA UTILITIES | SECRETARY COMMISSIONERS
Gregory Curtis WINDSOR COURT HOTEL
Edwin Murray LSU HEALTH NEW ORLEANS
David Piscola
HILTON NEW ORLEANS
Scott Polakoff
Kenny Rubenstein RUBENSTEINS
Miles Tully, Jr.
Frank Zumbo
NEW ORLEANS MARRIOTT
Seth Knudsen PRESIDENT & CEO
Charles Bourg CHIEF OF PUBLIC SAFETY & FIELD OPERATIONS
Dr. Michael J. McKnight, Sr. CHIEF FINANCIAL OFFICER
Ren é Pastorek, AICP CHIEF ECONOMIC DEVELOPMENT OFFICER
Jared Brossett DIRECTOR OF PUBLIC POLICY & EXTERNAL AFFAIRS
Donald G. Clouse
PUBLIC SAFETY MANAGER
Emma Hildreth
MARKETING AND COMMUNICATIONS MANAGER
John Roussell PUBLIC SPACE OPERATIONS MANAGER
Brandon Smith QUALITY ASSURANCE MANAGER
Tyler Correa ECONOMIC DEVELOPMENT SPECIALIST
Dajuantae Riggins STAFF ACCOUNTANT
Tempestt Woods ADMINISTRATIVE COORDINATOR
Francia Barradas CHIEF OF STAFF TO THE PRESIDENT & CEO
State of Downtown: Highlights
Downtown experienced the largest year-over-year population increase among all neighborhoods in New Orleans.
100% of Professional, Scientific, and Technical Services jobs recovered since 2019 7%
YoY increase in residential population 12% office vacancy rate vs. 20.5% national average 24 new retail openings 8% YoY increase in median income 2%
YoY increase in local visitation (within 10 miles)
39.6M Visits to Downtown in 2025
Defining Downtown
Downtown New Orleans stands as the largest center of employment in the State of Louisiana. Moreover, this collection of neighborhoods represents nearly $1B in assessed property value.
1.2
Walkable Square Miles Residents 4.6K
Source: U.S. Census 2024 ACS 5-year Employees 57K
Source: Census on the Map 2023
Downtown vs City of New Orleans Real Estate Taxable Value City of New Orleans $5.5B Downtown Development District $754M
DDD Contributes to 14% of the City’s Real Estate Property Taxable Value 14%
Downtown accounts for 30% of total sales tax collections attributed to Orleans Parish businesses City of New Orleans 290M
Source: Orleans Parish Assessor's Office
Source: City of New Orleans, 2025 approximate 30%
Downtown Development District $87M
The Downtown Development District of the City of New Orleans (DDD) was created by the Louisiana Legislature in 1974 as the nation’s first assessment-based business improvement district (BID) to provide enhanced services in economic development, cleaning, and safety. The DDD services the area bounded by Iberville Street, the Pontchartrain Expressway, Claiborne Avenue, and the Mississippi River. Our mission is to drive the development of Downtown New Orleans and be the catalyst for a prosperous, stimulating, innovative heart of the Crescent City.
4,637
Class A Office Inventory
Downtown’s retail environment continues to evolve, led by strong growth in food and beverage. New restaurant openings are driving foot traffic and reinforcing the area’s role as a dining destination.
Tourism + Hospitality
A strong hospitality sector continues to drive economic activity Downtown. Large-scale events and sustained demand highlight the area’s capacity to perform on a national stage # of Hotels
106 # of Hotel Rooms
22,667
Tech + Innovation
An expanding ecosystem of entrepreneurs, incubators, and research institutions is shaping Downtown’s future. These assets position the district as a center for innovation and opportunity.
Co-Working Spaces
Incubators + Accelerators
9 Co-Working Spaces Downtown 9 Incubators + Accelerators Downtown
Higher Education Institutions
Tulane University LSU Xavier Ochsner College of Medicine
The Idea Village 2025 Snapshot
144
founders participated in the 2024-2025 IDEAinstitute cohorts (Fall 2024 and Spring 2025)
768 founders have participated in IDEAinstitute (all-time number since program inception in late 2010’s)
$1.7B+ total alumni exit value all-time
$3.5M raised by VILLAGEx 2025 cohort, with 35+ active jobs and $3.7 annualized revenue
505 jobs created by VILLAGEx alumni in the last five years New Orleans BioInnovation Center Snapshot
7,500 attendees at 150 public workshops and 700 technical assistance meetings
66,000 SF of state-of-the-art wet lab, office, and conference space
27 VILLAGEx companies have now raised $1M or more each
6.3K registrants at NOEW 2025
Source: The Idea Village
500+ entrepreneurs served $6M invested by BioFund in 30+ startups
1000+ high wage jobs created $100K grand prize for BioChallenge
Source: New Orleans BioInnovation Center
$850M in funding raised by BioFundinvested companies
Residential
Downtown’s housing market is evolving to meet growing demand for urban living. New development is gradually increasing supply and supporting a more vibrant residential community.
Number of Condos/ Apartments: 6,370
VACANCY RATE (%) AVERAGE EFFECTIVE RENT PER UNIT ($) Source: CoStar
Arts + Culture
Recent public art investments, including new murals along Canal Street, are reshaping Downtown’s visual identity. Coupled with the concentration of galleries on Julia Street, these assets continue to draw visitors and reinforce Downtown’s role as a cultural destination.
LET’S MOVE FORWARD TOGETHER
ABOUT THE DDD
Downtown Development District of the City of New Orleans 201 St. Charles Ave, Ste 3912 New Orleans, LA 70170 | 504.561.8927
Created by the Louisiana Legislature in 1974 (LA Rev Stat § 33:2740.3) as the nation’s first assessmentbased Business Improvement District, the Downtown Development District of the City of New Orleans (DDD) provides enhanced economic development and public space services to Downtown New Orleans. It accomplishes its mission through initiatives assisting Downtown property and business owners, administering multiple grant programs, employing Public Safety Rangers, deploying Clean Team sanitation workers, and providing significant funding for outreach to the homeless, additional New Orleans Police Department patrols, and armed private security throughout its District. The DDD services the area bounded by Iberville Street, the Pontchartrain Expressway, Claiborne Avenue, and the Mississippi River.
DDD is funded by a property tax millage assessed on each non-exempt property within the District. DDD’s lifespan was initially ten years, and on December 8, 1979, a successful citywide referendum secured longevity for DDD. It authorized DDD to raise its property tax rate to as much as 22.9 mills (a privilege the DDD has never exercised); it gave DDD the authority to sell up to $7.5 million in bonds for use in capital improvement projects; it extended DDD’s lifespan for an additional 25 years to December 31, 2005; and it provided for a future election in which voters could extend DDD for an additional 25 years beyond 2005. An election was held on April 7, 2001, with 60% voting in favor, and DDD’s lifespan was extended through 2030.