Biz New Orleans October 2025

11 INDUSTRY LEADERS SHARE THEIR PLANS FOR THE COMING YEAR

INFLUENCERS ESTATE

We’re In High Times

Interest rates, construction costs, insurance costs — all are high right now, and all are having major consequences for both the commercial and residential sides of the real estate industry, as well as individuals, families and businesses. There is nobody that is untouched by these issues, which is why I’m so happy we were able to talk to 11 top local professionals covering a wide array of specialties and have them share their thoughts on what they’re currently doing, what needs to be done, and what keeps them motivated.

I think Brenda Breaux, executive director of New Orleans Redevelopment Authority, said it best: “The challenge is significant, but it’s also what drives us to innovate and push harder toward solutions.”

The issues we face are complex, but new ideas and technological innovations are happening every day, which means there’s lots to learn. If you want to learn more about the critical issue of affordable housing, for example, I encourage you to check out episode 256 of our weekly podcast, BizTalks, where I pick the brain of Jonathan Reckford, CEO of Habitat for Humanity International. Reckford has the benefit of a global view on the subject as he leads an organization whose work spans all 50 states and 70 countries. From rural Africa to downtown Atlanta, he has seen what works, and what doesn’t and his advice for New Orleans includes specific actionable items on the local level.

I also encourage you to check out the 15th Annual Economic and Real Estate Forecast Symposium. Hosted by the New Orleans Metro-

politan Association of REALTORS® (NOMAR) and presented by Gulf Coast Bank & Trust, this full day of sessions and speakers at the Jefferson Performing Arts Center is built around the theme, “Breaking Ground: The Emergence of a New Economy,” aiming to enlighten attendees on the market forces, burgeoning industries and infrastructure projects reshaping the metro area. For more information, visit NOLAForecast.org.

On the topic of thinking ahead, I’m excited to report that the Biz team is hard at work on our November issue, which will be the firstever to focus predominantly on the healthcare industry. At the same time, we’re also compiling our “Top 10 Business Stories of the Year” for the December issue, and “Top Executives of the Year” for the January issue. Stay tuned!

It’s a busy time of year, but the pumpkins patches are out, the punny skeletons have arrived on St. Charles Avenue, and cooler weather is on the way.

I’ll take it.

Happy Halloween! And thanks for reading,

KIMBERLEY SINGLETARY

Editor

Kimberley@BizNewOrleans.com

Publisher Todd Matherne

EDITORIAL

Editor Kimberley Singletary

Art Director Sarah E.G. Majeste

Digital Media Editor Kelly Massicot

Associate News Editor Kelly Hite

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Contributors William Jackson, Walt Leger III, Ashley McLellan, Misty Milioto, Chris Price, Arthur Schwertz, Steven C. Serio, Laverne Toombs, Keith Twitchell

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Get Out and About

Fall is here and it’s time get out of the office! Fortunately, many regional business groups are hosting great opportunities to keep you busy this month.

Here are a few of the many opportunities to make business connections this month:

• October 2 — Young Leadership Role Model Series with Jim Cook and Lisa Alexis

• October 10 — 46th annual Tulane Business Forum at the Ernest N. Morial Convention Center with luncheon keynote speaker Paul Friedman of Sony Pictures Entertainment

• October 16 — Explore Northshore Business Expo hosted by the St. Tammany Chamber with the Business and Growth Luncheon and speaker GNO, Inc. President Michael Hecht

• October 21 — Bureau of Governmental Research (BGR) annual luncheon with Pulitzer Prize-winning journalist and author Rick Atkinson

• October 23 — Taste of New Orleans at the Four Seasons hosted by the Louisiana Chapter of the Association for Corporate Growth (ACG)

• October 29 — Jefferson Chamber’s annual State of Jefferson luncheon at the Alario Center

Along with these events, Biz New Orleans is hosting a Biz Night on October 15 at the Ernest N Morial Convention Center. This is a great opportunity to come see what is happening at the convention center, meet fellow executives and break up your mid-week routine. Happy fall.

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P.S. – Happy first birthday Annie! Looking forward to your visit and celebration.

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IN THE BIZ

ENTREPRENEUR

This 15-year-old company has become an “overnight success” by marrying technology with nature

he’s avid about music, the outdoors, and Saints, Ole Miss and Chelsea football.

Ruffled Feathers

Pelicans face another season of uncertainty

BY CHRIS PRICE

If there was one word for the New Orleans Pelicans’ 2025-2026 season, it would be challenging.

The team went 21-61 last season and saw an offseason full of shakeups in search of finding stability and direction.

The Pelicans hired Louisiana native Joe Dumars as president of basketball operations in April, and fans are hoping the Basketball Hall of Famer can bring some of the swagger he displayed as a “Bad Boy” on the two-time NBA Champion Detroit Pistons in the late 1980s and early 1990s to the Big Easy.

If there is good news, it’s that the Pels should be able to improve on their 25.6 winning percentage from a year ago. How much of an improvement they will make, however, remains unclear.

Zion Williamson remains the franchise’s cornerstone, but questions about a career plagued by injuries and his ability to get on the court persist, yet again. The Pelicans selected Williamson as the first overall draft pick in 2019. Since then, he missed 48 games in 2019-20, 11 in 2020-21, 82 in 2021-22 season, 53 in 2022-23, 12 in 2023-24, and 40 games last season. That’s

a total of 246 games, equivalent to three full 82-game NBA seasons.

Still, the Pelicans have reason to believe. The team has fully guaranteed Williamson's contract for the season and their investment offers fans hope. When he is healthy, Williamson is among the NBA’s best players, but his inconsistency has hurt the Pelicans’ ability to compete at the top level year in year out.

If Williamson can play a majority of the season, there is no doubt the Pelicans will post a better record than they did last season. How well the team can do, however, depends on his supporting cast.

The Pels expected starting five includes point guard Jordan Poole (20.5 points, 4.5 assists, 3.0 rebounds, 0.3 blocks, and 1.3 steals per game last season), shooting guard Trey Murphy III (21.2 points, 3.6 assists, 5.1 rebounds, 0.7 blocks, and 1.1 steals), small forward Herb Jones (10.3 points, 3.3 assists, 3.90 rebounds, 0.5 blocks, and 1.95 steals), Williamson (24.6 points, 5.3 assists, 7.2 rebounds, 0.9 blocks, and 1.23 steals) at power forward, and Yves Missi (9.1 points, 1.4 assists, 8.2 rebounds, 1.3 blocks, and 0.5 steals) at center.

With or without Williamson, Poole — who New Orleans picked up in a trade with the Washington Wiards this offseason after posting a career year last season — will have opportunities to score. Expect Murphy and Jones to increase their offensive productivity. Both have shown growth potential and are in the prime of their careers.

Likely role players will include leading draft picks Jeremiah Fears, a 6-foot, 4-inch point guard from Oklahoma University, Derik Queen, a 6-foot, 10-inch center from the University of Maryland, and Micah Peavy, a 6-foot, 8-inch guard/forward from Georgetown, as well as point guard Jose Alvarado (10.3 points, 4.6 assists, 2.4 rebounds, 0.3 blocks, and 1.3 steals), shooting guard Jordan Hawkins (10.8 points, 1.2 assists, 2.8 rebounds, 0.5 blocks, and 0.5 steals), small forward Saddiq Bey (didn’t play in 2024), and center Kevon Looney (4.5 points, 1.5 assists, 6.1 rebounds, 0.5 blocks, and 0.6 steals).

Head Coach Willie Green has his work cut out for him. He’ll need to help the team quickly find chemistry and set an identity, while managing Williamson and developing their young talent. That may be a tough task for the local favorite.

While hope always springs eternal, especially in a sports city like New Orleans, NBA analysts aren’t too big on Pelicans entering the season. They do not project the Pels to be contenders, with most giving a ceiling of finishing 13th among the Western Conference’s 16 teams. Sportsbook BetMGM is giving New Orleans just a 15.38% chance to make the playoffs.

Success for the Pelicans will likely be incremental. If the team cannot show signs of improvement, Green may find himself on the hot seat and Dumars’ hand may be forced to make changes to his coaching staff and/or roster to keep fans engaged for the long term.

With the Saints in a seemingly down year, it’s a tough time to be a fan in New Orleans. The magic of sports, however, is that surprises are always at hand. T

Music Month Is Here

Big things are in the works to support and promote our local musicians

BY WALT LEGER III

In New Orleans, music doesn’t just help us to tell our story – it is our story. Our community sustains one of the most vibrant live music scenes in the United States, hosting hundreds of festivals and thousands of performances annually.

While music is infused in everything we do at New Orleans & Company year-round, including business leads for musicians, editorial and social content, and public relations opportunities, a few years ago, we declared October as “Music Month” to bring extra marketing support and attention to our incredible musicians.

A few other initiatives we are driving forward include applying to become a UNESCO Creative City of Music, NOLAxNOLA, NOLA MusiCon, and creating an artist database on our website.

UNESCO CREATIVE CITY OF MUSIC APPLICATION

Earlier this year, our New Orleans & Company team applied to become a UNESCO Creative City of Music. Our team, along with the advisory board — featuring prominent members of the New Orleans music industry — has worked tirelessly behind the scenes with UNESCO rep-

WALT LEGER III is president and CEO of New Orleans & Company, the official destination marketing and sales organization for New Orleans tourism industry. He may be reached via email at walt@neworleans.com.

resentatives around the world to position the city as best we possibly can for selection.

The Creative Cities Network spans more than 100 countries and 350 member cities. The network shares best practices and develops partnerships that promote creativity and cultural industries with the common goal to strengthen participation in cultural life and integrate culture into urban development plans.

We applied to join the UNESCO Creative Cities Network because we want to fortify New Orleans’ seat at the global table, to open doors and shine a light on the rich cultural landscape that makes our city a hallowed destination for music lovers from across the world. As we pursue this recognition, we also are fortunate to be joined by partners such as the Benson Organization, whose collaboration underscores our city’s wider engagement with UNESCO, ranging from the Creative Cities Network to the pursuit of World Heritage status within the historic French Quarter.

NOLAXNOLA During the omicron variant of COVID-19 in 2021, Jazz Fest and many other festivals were forced to cancel fall events meant to launch our recovery. These cancellations left a hole in the fall calendar and our music venues and culture bearers reeling.

What followed was a collaboration between New Orleans & Company, our music venues, the New Orleans Tourism Cultural Fund and SigFest Events to create a one-of-a-kind music festival in New Orleans to celebrate our musicians and support them in a time of need — NOLAxNOLA. The first NOLAxNOLA was over 10 days, featured over 20 venues and allowed people to gather safely in intimate venues and celebrate our amazing musicians in a time of need.

Not only has the festival grown year over year, but its history and impact are something that we are proud to play a part in. While we just completed a successful fifth annual NOLAxNOLA, there is still a busy fall festival calendar that includes Treme Fall Fest, the Crescent City Blues and BBQ Festival, Beignet Fest and the Oak Street Po’boy Festival, among plenty of others.

NOLA MUSICON

last week of October at The George and Joyce Wein Jazz & Heritage Center and fosters innovation, collaboration and education within the music industry, providing a platform for artists and industry professionals to connect, learn and inspire. NOLA MusiCon offers artists and industry professionals a chance to network with the goal of showing musicians that New Orleans is not only a great city to perform but also a great place to grow a business. Several panel discussions take place October 28-30. To register, visit nolamusicon.com/register.

NEW ORLEANS ARTISTS DATABASE Our team at New Orleans & Company partnered with WWOZ to create the New Orleans Artist Database on NewOrleans.com. The comprehensive database allows people to learn more about their favorite musicians, discover new artists, listen to playlists, follow them on social media and keep track of their upcoming shows in New Orleans. We have space for all New Orleans artists, so visit NewOrleans.com/artists to learn more.

NEW AD CAMPAIGN

Our fall 2025 ad campaign, which started in September, invites potential visitors to come and enjoy everything New Orleans has to offer this fall including the return of NOLAxNOLA and Music Month. The campaign will run regionally and in select key fly-in markets through October, leveraging a mix of paid advertising along with robust editorial and social content across our channels and many others.

PLEASE JOIN US Over the summer, I encouraged you, our local business community, to support our cultural economy by planning a staycation, or enjoying our restaurants and attractions during COOLinary and Museum Month. Now, I am encouraging you to support our musicians and fall festivals. We should never take for granted that millions of people from around the world come to experience the New Orleans’ music scene, which we are fortunate to enjoy right in our own backyard. For a list of events, visitneworleans.com/musicmonth. T

IN THE BIZ ENTREPRENEUR

KEITH TWITCHELL spent 16 years running his own business before serving as president of the Committee for a Better New Orleans from 2004 through 2020. He has observed, supported and participated in entrepreneurial ventures at the street, neighborhood, nonprofit, micro- and macro-business levels.

Using Tech to Tame Land Loss

This 15-year-old company has become an “overnight success” by marrying technology with nature

BY KEITH TWITCHELL

Agood business idea is one that solves a problem, and for local company Natrx, that problem was one that affects us all: coastal land loss.

Tyler Ortego and Matt Campbell, of the company’s four co-founders ,met while working on reef restoration using recycled oyster shells at LSU, but though they recognized the obvious benefits of various approaches to addressing coastal land loss, they became frustrated with both the pace and the costs.

Along with Nicholas Brady and Leonard Nelson, Ortego and Campbell founded Natrx in 2010 to find better solutions.

“At its core, Natrx is a technology platform for nature-based solutions,” explained Tad Schwendler, chief operating officer of Natrx. “There are two primary components — the first is a suite of geospatial software tools to help us understand the environments in which we work.”

Incorporating a wide range of data — including items such as erosion rates and geological factors — the software is used to design optimal solutions, then monitor outcomes.

The second component is the manufacture of the physical items that are installed to achieve these solutions, and Natrx is an innovator here as well.

The company employs a technique known as dry forming, which Schwendler described as “an injection-based process that mimics the formation of shells or corals in nature. It allows for more creativity and creates more surface area and habitat features.”

Not only is dry forming more flexible and adaptable, it is less expensive than traditional slurry-based concrete manufacturing. The resulting cost savings, he said, enable projects to protect and restore larger coastal areas.

Schwendler noted that manufacturing and deploying the restoration structures create jobs for coastal area residents and recreational and commercial fisheries benefit as offshore environments recover, with ripple effects up the seafood industry chain.

Natrx installations have also proven to be highly hurricane resistant. Schwendler reported that when Hurricane Laura blasted Cameron Parish, the company’s work survived while a nearby rock breakwater was blown apart. Not

having to replace protection infrastructure after each new storm, he said, is a huge cost-saver.

Natrx’s successes in Louisiana and in Maryland’s Chesapeake Bay have created growing demand for the company’s innovations. For example, the software is being used to study disappearing mangrove coasts in northern South America, while the company is deploying its concrete forms as part of a major coral restoration project in Hawaii.

Consequently, Schwendler said Natrx is continuing to grow rapidly.

“We tripled our revenue last year and doubled the size of our manufacturing facility to 10,000 square feet while making some significant upgrades,” he said. “We are now able to go after much larger jobs.”

The company’s current exponential growth is actually the result of many years of taking a slower, more measured approach. While still in its early conceptual stages, Natrx was able to get into some incubator and accelerator programs. These enabled the company to do prototype development of its dry forms, which in turn led to innovation awards from Shell and the National Science Institute, among others. Subsequently, this helped Natrx advance its technology to the commercial application level. At this point they successfully raised several rounds of venture capital, leading to the results achieved today.

Thus, the recent “overnight success” is thus actually the result of more than a decade of development and scaling.

“Perseverance is really important for anyone who wants to be an entrepreneur,” Schwendler counseled. “Put one foot in front of the other, and believe in your thesis.”

He sees Natrx’s success in the larger picture of Southeast Louisiana.

“Louisiana has a real opportunity to develop a resilience innovation hub. There is a lot more of this work that needs to get done, here and elsewhere. We have the diverse skill sets, and our culture makes this a passion, not just a job. It’s a place of opportunity, a great place for us to operate.” T

PERSPECTIVES

EDUCATION

Real Estate Attorneys Beware

High-dollar transactions are riskier than ever. You need to change your outlook and know the signs

BY STEVEN C. SERIO

You lost $12 million. But you did everything by the book, right? Your client was refinancing its existing debt on a retail shopping center. You reviewed the title commitment. You noted that the existing $12 million mortgage needed to be paid off. You obtained payoff instructions from the bank with the wire instructions for the payoff. You called the bank and verified the wire instructions over the phone with a known contact at the bank.

STEVEN C. SERIO is a partner at Fishman Haygood, LLP where he practices in all aspects of real estate development for a diverse group of business clients. He may be reached via email at sserio@fishmanhaygood.com.

Your client emailed you the day before closing with a few minor revisions to the closing documents. Your client emailed you later in the day to remind you to send the $12 million by 2 p.m. on the day of closing. Your client attached the payoff wire instructions and instructed you to use these new wire instructions because, according to your client, “the payee bank had recently changed its instructions for payoffs.” You dutifully followed your client’s instructions. But when you wired the $12 million payoff, it was sent to a fraudster.

This scenario, unfortunately, is becoming more common and impacting well-trained attorneys and title companies. In the above scenario, despite appearances, the email was not from the client. It was from a cybercriminal who found a way to infiltrate your client’s email account, monitored exchanges regarding the upcoming transaction, and impersonated your client on the day prior to closing (and with frightening accuracy, at that).

Wire transfer fraud is increasing at an alarming rate. According to the FBI’s newly released 2024 Internet Crime Report, business email compromise (BEC) is a sophisticated scam through which cybercriminals target businesses or individuals working with businesses that routinely perform wire transfers. In 2024, the FBI reported that BEC scams totaled $2.7 billion in losses. Now consider that this figure accounts only for reported losses.

Fraudsters improve every day. Primarily, they find ways to compromise email accounts or other forms of communication, like phone numbers or virtual meeting applications. But they also exploit individuals through social engineering techniques; for example, they ask the person to perform an action (i.e., “click this link”) or otherwise coerce him/her to divulge private information, including passwords or authentication credentials.

In an interview with The Harvard Gazette, cybersecurity expert Bruce Schneier explained that it’s not just older adults falling victim to these cons. No matter your age, income level,

education, and/or IQ, everyone is susceptible to scams. And, what’s more, technology allows cybercriminals to scale at a much faster rate.

Real estate attorneys handling high dollar closing transactions are prime targets for BEC scams. As a result, attorneys should change their outlook — stop thinking that wire transfer fraud will never happen to you and, instead, anticipate it!

Wire fraud can devastate attorneys and their clients: It not only victimizes two businesses, the one expecting payment and the one making it, but also potentially exposes the attorney to legal liability. In the case of our real-life scenario, that’s a $12 million mistake—at least.

Fraudsters are not going away. And as long as they exist, the digital world (in particular) will remain a vulnerable and dangerous space in which to conduct business. If it hasn’t yet, wire transfer fraud — or an attempt at it — will affect you and your clients.

There is no foolproof way to protect yourself, but you can take precautionary measures to lessen your chances of being duped. The FBI advises that before you click a link or make a payment, check email addresses and phone numbers to ensure that they are correct. Further, call a known contact and phone number at the payee institution to ensure that the email with any new wire instructions is authentic, and then wait to verify that the money arrives in the intended recipient’s account.

Specifically, as it relates to real estate transactions, last-minute changes to payment or wire instructions can be a telltale sign of fraud. If your client or vendor changes wire instructions during a transaction, alarm bells should go off in your head. Further, be wary of messages from your client’s email address that come across as too urgent, even if they lack typos or inconsistencies. Finally, trust your instincts and communicate over the phone with your client throughout the course of the transaction, and especially on the days leading up to the closing. Don’t merely rely on emails. T

CONNECTING TALENT TO DEMAND

Area educational institutions are creating career pipelines more closely tied to industry than ever before

BY KELLY HITE

In Greater New Orleans, the gap between classroom and career is narrowing as schools and colleges work in step with industry.

What was once an abrupt handoff from graduation to the job market is evolving into tailored programs aimed at providing students with practical skills and curricula shaped by employers to reflect workforce needs. As a result, entire sectors are gaining a pipeline of graduates ready to step in on day one.

YOUTHFORCE NOLA GETS A BOOST

This summer, 290 New Orleans high school students gained hands-on work experience through YouthForce NOLA internships, completing 106 on-the-job hours and classroom instruction in professional skills and financial literacy, supported by city-funded stipends.

Founded in 2015, YouthForce grew out of post-Katrina findings that showed that despite improved graduation rates, some students were finishing high school without the skills or networks to succeed in the workforce or higher education.

Internship models like YouthForce’s are now drawing statewide attention. In 2023, only 5% of Louisiana high school graduates earned internship credit, but a new accountability system adopted by the Louisiana Board of Elementary and Secondary Education is incentivizing schools to expand paid work-based learning. The state has backed the push with $2 million in funding, and YouthForce is training educators to design and manage internships for districts across Louisiana. Officials expect these changes to significantly increase the number of high school students with real workforce experience before graduation.

“As we reflect on the remarkable success of YouthForce NOLA’s 290 talented, hardworking high school interns this summer, I am incredibly proud of the opportunities that we create for young people,” said YouthForce NOLA President and CEO Cate Swinburn. “Our journey from 17 interns to hundreds is a testament to the dedication of our community and partners who believe in the potential of our youth, especially Entergy, Ochsner Health and the 90 other businesses that

KELLY HITE is the associate news editor for Biz New Orleans, responsible for delivering daily business news on BizNewOrleans.com, focusing on developments that impact the greater New Orleans area and southeast Louisiana. She may be reached via email at KellyH@BizNewOrleans.com.

Parents are talking just as much about the Career Center as they are which high school their kids will go to.

Claire Jecklin, executive director of New Orleans Career Center (NOCC)

“We talked to hiring managers and floor supervisors to look at what we needed to change,” Jecklin said. “We were able to advocate for a higher wage with one healthcare institution because we were providing so much training. That give-and-take with industry makes us matchmakers.”

As enrollment grew, NOCC adapted its offerings to meet shifting needs. When the Patient Care Technician pathway filled, the center leaned into Licensed Practical Nursing to address the broader shortage, building a direct path to jobs with partners like Ochsner. Employers are now at the table as NOCC expands into pharmacy tech and EMS training.

Enrollment has jumped 150% in two years, reaching a record 800 students. Jecklin credits not just visibility but student-driven momentum.

“Young people are the best at spreading the word. They’ll share their practice to TikTok, for example. Parents are talking just as much about the Career Center as they are which high school their kids will go to.”

hosted interns this summer. These young people are more ready for their careers and have grown in confidence that will serve them for a lifetime.

New Orleans’ future is bright with so many businesses and leaders supporting young people on their path to career.”

ENROLLMENT SURGES AT NEW ORLEANS CAREER CENTER

YouthForce NOLA isn’t the only local program rethinking how high school connects to careers.

Founded in 2017, the New Orleans Career Center (NOCC) offers students two years of daily, half-day career training alongside its regular classes, providing hands-on experience in fields tied to regional workforce needs.

“When we started there was no healthcare training for high school students,” said Claire Jecklin, executive director of NOCC. “We built those programs from the ground up. We really look at where the jobs are.”

That philosophy carried into the pandemic when NOCC pivoted toward a rapid nurse training program and worked with healthcare institutions to refine the curriculum.

For Jecklin, the growth is about more than numbers.

“Young people, like everyone else, want a sense of purpose,” she said. “In our economy and in the industries that we have in the region, a young person’s best bet is to enter at a higher wage, to have an articulated path to advancement and to know what that is — that’s what we do.”

NUNEZ COMMUNITY COLLEGE SEES RECORD-SETTING GRADUATING CLASS AND NEW OFFERINGS

Colleges are also reshaping their role in the talent pipeline. At Nunez Community College, enrollment in trades such as instrumentation, electrical, HVACR, welding and nursing has more than doubled, and the 2024–25 year marked a milestone with the school’s largest graduating class — over 1,000 completers.

A new Maritime Operations Certificate is being designed with port officials and tenants. “This program is designed to give students multiple career options in a single pathway,” said Chancellor Dr. Tina Tinney. “Our goal is to build a cross-trained workforce that the maritime industry can count on for safety, skill and flexibility.”

Nunez has also added a nearly $1 million liquefied natural gas training unit, one of the few in Louisiana.

“Louisiana is leading the world in LNG exports, and this trainer gives our students the chance to practice on equipment they’ll see in the field,” said Kyle Steib, program chair of process technology. “It’s a game-changer for preparing graduates to step directly into highwage jobs.”

In Fall 2025, Nunez launched an associate degree in cybersecurity and information assurance with support from the Louisiana Board of Regents.

“Cybersecurity isn’t just an IT concern, it’s a public safety and economic security concern,” said Reggie Poché, vice chancellor for strategic initiatives and engagement. “By starting this degree, we are ensuring our students are job-ready while also strengthening the resilience of local businesses and organizations.”

The college also runs Louisiana’s only aerospace manufacturing program.

“Louisiana has a proud tradition of contributing to space exploration, and Nunez is the only college in the state preparing students with these specialized aerospace skills,” explained Tinney. “Since advanced manufacturing is a dynamic and ever-evolving field, we engage in frequent conversations with our industry partners to ensure that our program is relevant and caters to their needs.”

Another recent addition was created in response to a workforce study by GNO, Inc. — the Coastal Studies and Geographic Information Systems program prepares students for roles in coastal restoration and Coastal Protection and Restoration Authority of Louisiana Master Plan projects. Partnerships with organizations like Ducks Unlimited are already producing new certifications.

UNIVERSITY OF NEW ORLEANS EXPANDS STEM ACCESS

While Nunez is scaling technical and trade pathways, the University of New Orleans is tackling workforce gaps in science and technology. A six-year, nearly $2 million National Science Foundation (NSF) grant is currently supporting low-income students in biology and computer science through scholarships, mentoring and experiential learning. The program is set to run through 2031.

Nearly half of NSF S-STEM scholars at four-year institutions graduate, compared to just 16% of Pell Grant recipients nationally. Of those entering the workforce, 86% secure jobs

Louisiana’s healthcare workforce is facing a critical moment. These shortages directly affect hospital operations, patient care and rural access making it a statewide concern.

Dr. Stanton McNeely, president, University of Holy Cross

in STEM fields, far above the national average.

“This award is geared toward using modern feedback on what actually makes students successful,” explained Carol Lunn, UNO’s assistant vice president for research and economic development. “Students are working with faculty members and gaining experiential learning which is much more effective.”

The initiative builds on recent gains at UNO, where freshman enrollment rose 20% in fall 2024, transfer enrollment surged 60%, and the university ranked in the top 10% nationally on the Social Mobility Index. Over the life of the grant, 60 students will receive scholarships averaging $6,200 annually, with awards of up to $15,000.

“One of the main complaints from the private sector is that the local economy is not diversified due to a lack of STEM graduates,” said Lunn. “The NSF funds will directly address that need, lifting up more people while meeting the needs of industry partners for a more highly trained workforce.

“As the only urban research university in the state, we take very seriously our obligation to the city to uplift and support the middle class, making sure we are on point to benefit people in the region,” she added. “We want to be an anchor institution. The faculty involved in this have a long history of bringing in people and training them to help elevate the entire region. When a first-generation student attends university, it lifts up their entire family.”

UNIVERSITY OF HOLY CROSS IS MEETING THE NURSING NEED

Nowhere is the workforce gap more urgent than in healthcare. Facing a projected 42% shortfall in nurses and widening gaps across the healthcare spectrum, the University of Holy Cross (UHC) is working to prepare more students for jobs.

“Louisiana’s healthcare workforce is facing a critical moment,” said UHC President Dr. Stanton McNeely. “These shortages directly affect hospital operations, patient care and rural access, making it a statewide concern.”

To meet that challenge, UHC has designed programs that support nontraditional and first-generation students balancing work and family, with a model blending academic rigor, career preparation and flexible learning.

For students the approach is paying off. Theresa Vead, a 2025 graduate, said the program’s family-like environment prepared her to step into a pediatric nursing role at Ochsner Medical Center.

“What I enjoyed most about University of Holy Cross was the family-like environment it provided. Being part of a smaller nursing program allowed me to form close bonds with both my classmates and the faculty. This strong support system played a major role in my success,” she said. “After graduation, I began working at Ochsner Medical Center as a pediatric nurse. I’m incredibly thankful to the nursing faculty at Holy Cross for preparing me to be the best nurse I can be for my patients.”

McNeely noted that students also benefit from a state-of-the-art lab and clinical rotations with top hospitals like Ochsner, Manning Family Children’s and West Jefferson Medical Center. “Our programs are rigorous, supportive and practical, helping students thrive from classroom to clinic.” T

WILLIAM

JACKSON is president of Gallagher’s property and casualty operation in New Orleans and serves as executive vice president of Gallagher’s Southeast region. He can be reached via email at William_Jackson@AJG.com

What Katrina Taught the Insurance Industry

A look at how it changed the mindset of disaster recovery

BY WILLIAM JACKSON

It has been two decades since one of the most devastating natural disasters in modern U.S. history, and communities are still grappling with the question of whether our infrastructure is equipped to handle the challenges of today’s climate.

The memory of Hurricane Katrina remains vivid for many of us here in New Orleans and scars run deep with some residents never returning. However, this city's recovery has been remarkable in many ways, especially when it comes to incorporating the best thinking in resilience, water management and flood prevention.

From the insurance perspective, our industry looks back at Hurricane Katrina and the profound impact it had on how we think about natural catastrophes and overall disaster preparedness. What followed Katrina was a mindset shift from "predict and prevent" to "adapt and absorb.” These important lessons have allowed New Orleans to continue to build back stronger, be better prepared for extreme climate events and ensure the communities we work in can get back on their feet as quickly as possible when the worst happens.

MARKET REACTIONS TO KATRINA

After Hurricane Katrina, insurers began incorporating more sophisticated predictive analytics and catastrophe modeling to better evaluate and price risks associated with hurricanes and other extreme weather events. The insurance industry invested heavily in risk engineering, climate science and other sources of data and analytics that are essential to effective resilience planning.

This shift was accompanied by stricter policy terms and conditions, including higher deductibles and exclusions for flood-related damages, which had been a major contributor to the unprecedented losses caused by the disaster.

Katrina also served as a catalyst for regulatory changes and the development of new insurance products. The disaster underscored the need for improved flood insurance coverage, prompting reforms in the National Flood Insurance Program (NFIP) and the emergence of private flood insurance options.

Additionally, insurers expanded their offerings to include more comprehensive natural disaster coverage, often bundled with risk mitigation services designed to help policyholders

better prepare for future catastrophic events. These changes collectively reshaped the industry's approach to managing and mitigating the risks posed by extreme weather.

HURRICANE FORECASTING: DATA THEN AND NOW

We have seen a noticeable shift toward protective financing and risk consulting, where risk and data insights are used to improve the underlying risk. While the peril of wind is often in the spotlight, it's water-related hazards such as storm surge and inland flooding that drive the greatest threats to life and property. Since 2005, advances in climate forecasting have greatly improved storm prediction.

The National Hurricane Center (NHC) produces forecast graphics that often include "cones of uncertainty," which represent the probable path of the storm center based on current data and modeling. This allows for more accurate predictions and with this the cone has narrowed over time — a reflection of improved forecasting accuracy and more precise predictions of storm landfall. This increased precision has saved lives and enabled emergency managers and insurers to better position resources in advance. These insights can better guide emergency response and insurance efforts, improving readiness and speeding up recovery.

These insights are also collectively used to offer practical advice for businesses on how to best mitigate the impact of extreme weather losses, such as reinforcing and retrofitting properties and more accurately predicting the impact. Through advice from a broker, along with innovative risk transfer solutions such as parametric insurance, insurance and risk management programs can be designed for more resilience, to help reduce loss severity and to target any gaps between economic and insured losses.

All these years after Hurricane Katrina, New Orleans continues to transform vulnerabilities into strengths, with infrastructure investments, innovative design and community-led initiatives, the city has redefined resilience. T

PERSPECTIVE ECONOMIC DEVELOPMENT

Brighter Than a Bonfire

You won’t believe all that’s happening in Algiers right now

BY LAVERNE TOOMBS

The Algiers Economic Development Foundation (AEDF) will host its 2025 Algiers Holiday Bonfire & Concert on Saturday, December 6, 2025, at Algiers Batture, 200 Morgan Street, New Orleans. This popular, family-friendly event brings neighbors together with music, culture and community pride.

However, the bonfire is more than just a seasonal event. It has become a symbol of AEDF’s efforts to maintain year-round momentum for small businesses, create workforce opportunities, and boost neighborhood vitality on the West Bank. It serves as a visible reminder of AEDF’s broader mission: to help Algiers businesses start, grow and succeed so families can prosper and communities can thrive.

Since its founding, AEDF has established itself as the voice, advocate and connector for Algiers businesses. That impact is visible in storefronts that anchor our corridors, in entrepreneurs who access financing and mentorship, and in policy achievements that eliminate barriers to growth. Over the years, AEDF has played an equally important role as a convener, coach and champion, bringing people together, offering practical support, and advocating for

LAVERNE TOOMBS is the interim executive director of Algiers Economic Development Foundation. She may be reached via email at ltoombs@algierseconomic.com.

conditions that foster commerce and improve quality of life.

From the start, AEDF has understood that real economic development isn’t just about buildings or balance sheets, it’s about people. That philosophy guides every initiative we lead.

One of AEDF’s most impactful initiatives is the Algiers Career & Educational Development (ACED) program, created in collaboration with Sen. Gary Carter. ACED prepares high school students and young adults with vital workplace readiness skills, including communication, teamwork and time management, while also offering exposure to in-demand careers through site visits and employer engagement.

Businesses throughout the West Bank need dependable, prepared talent. Young people require accessible pathways to quality jobs. ACED fills that gap. By combining classroom instruction with hands-on experience, the program enables students to move forward confidently while helping local companies fill their workforce needs with local talent. It’s a win-win that benefits both families and businesses.

AEDF also recognizes that each business has its own unique journey. That’s why our technical assistance is practical, responsive and personal. We don’t try to be everything to everyone — instead, we connect entrepreneurs to the right resources at the right time.

This involves helping businesses access capital through community lenders, identify procurement opportunities with government and institutional contracts, and leverage RFQs and RFPs to increase their revenue streams. "How-to” sessions on topics like marketing, leasing and HR provide practical tools. It also means connecting them with vetted accountants, attorneys and marketing professionals who can strengthen their foundations. Additionally, it includes assisting them in enhancing their digital presence and financial systems by directing them to experts and programs designed to build capacity.

Just as importantly, AEDF follows through — whether a business is opening its first location, expanding to a second or working to stabilize cash flow, we provide coaching, connections and

accountability because execution is what turns plans into jobs and storefronts into landmarks.

Relationships are the lifeblood of small businesses, and AEDF ensures those connections happen. Our business mixers and networking events bring together owners, investors, lenders, and civic leaders to share ideas, form partnerships and unlock opportunities.

These gatherings are not just social, they are strategic. Sector-focused meetups enable peers to address common challenges. Cross-neighborhood exchanges connect the broader West Bank business community. AEDF also encourages local businesses to host these events, generating exposure and energy in spaces where commerce happens daily.

Equally important, we highlight success stories. By showcasing entrepreneurs who hire locally, renovate unused spaces, or innovate in their fields, AEDF encourages others to establish roots and grow right here in Algiers. Our message is clear: If you want to build a business with roots, AEDF is your first call.

Strong economies rely on robust infrastructure. AEDF collaborates with public partners to streamline processes, improve streetscapes, enhance signage and wayfinding, and ensure Algiers receives its fair share of investment. From ferry terminal signage coordination to corridor upgrades to small-business policy improvements, we work behind the scenes so owners can focus on what they do best: serving customers and employing neighbors.

Algiers is both a historic gateway to New Orleans and a contemporary center for entrepreneurship. When a business opens in Algiers, it does more than sell products and services. It creates jobs, keeps dollars circulating locally, mentors the next generation and strengthens community identity.

AEDF’s integrated approach, culture that gathers us, workforce that equips us, services that strengthen us, and advocacy that empowers us, translates into tangible results for families and the broader regional economy.

Algiers is rising — together. Algiers Economic Development Foundation (AEDF) is proud to light the way. T

ARTHUR SCHWERTZ, MAI, ASA, is the senior managing director of Mosaic Property Valuations, headquartered in New Orleans. With over 30 years of experience, he has successfully delivered valuation and consulting services throughout the greater New Orleans area and across the United States. He may be reached at aschwertz@mosaicvaluations.com.

Appraising the Atypical

Appraising real estate in nationally recognized historic districts like New Orleans’ Vieux Carré is a nuanced and often complex endeavor

BY ARTHUR SCHWERTZ

The French Quarter, with its centuries-old architecture, layered preservation regulations and unique property characteristics, presents a distinct challenge for appraisers. Nowhere is this more evident than in the appraisal of the Upper Pontalba Building, a landmark structure that exemplifies the intricacies of valuing historic, mixed-use properties. Constructed in 1850 and designed by renowned architect James Gallier, the Upper and Lower Pontalba Buildings were inspired by Parisian row houses, featuring ground-floor

retail and upper-level residential units. The Upper Pontalba, which faces St. Peter Street and Jackson Square, underwent a significant transformation in 1930 when the Works Progress Administration converted it into all-residential use. In the 1970s, it was restored to its original mixed-use configuration, and in 1974, it earned a place on the National Register of Historic Places. Truman Capote once described the Pontalba complex in his essay Hidden Gardens as “the oldest, in some ways most somberly elegant, apartment houses in America.”

Today, the Upper Pontalba comprises 81,970 square feet of net rentable area. The ground floor includes two restaurant spaces and 12 retail units totaling 15,913 square feet, while the upper floors house 50 residential units ranging from 467 to 1,921 square feet. These apartments are the oldest continuously rented residences in the United States.

What makes the Upper Pontalba particularly challenging to appraise is its deceptive uniformity. Though it appears to be a single, continuous four-story structure, it was originally constructed as 16 separate buildings. These have been operated almost continuously as one complex, with a row house design that stretches from lot line to lot line. Hidden within are 16 interior courtyards — Capote’s “hidden gardens” — which are typical of French Quarter architecture but rare elsewhere in New Orleans. Accurate field measurements are essential, though in this case, access to the architect’s renovation plans proved invaluable.

Appraising such an atypical property requires equally atypical methodologies. For the Upper Pontalba, the sales comparison approach was adapted using a hypothetical condition: The property was assumed to be subdivided into a condominium regime. Under this scenario, the residential units would form one condominium, while each commercial space would be treated as an individual unit. This allowed for the use of more conventional comparables in the valuation process.

In historic districts like the French Quarter, understanding a building’s historical significance is critical. The Vieux Carré Commission

assigns color-coded ratings to buildings based on their architectural and historical importance. These range from brown/orange (objectionable or of no architectural or historical importance/ unrated 20th-century structures) to purple (buildings of national architectural or historical significance). The Upper Pontalba holds the prestigious purple designation.

This designation can significantly influence value. For example, the Louisiana Bank Building on Royal Street (also rated purple) sold at auction for 66% above its appraised value. While auction dynamics played a role, the buyer cited the building’s historic pedigree as a key factor. Designed by Benjamin Henry Latrobe, often called the “Father of American Architecture,” the building’s legacy justified a premium. Similarly, the Upper Pontalba’s historical and architectural significance warranted a value adjustment, though not as substantial as that of the Latrobe-designed property.

Given the building’s size and mixed-use nature, the income approach ultimately carried the most weight in the appraisal. This required determining market rental rates for a historic landmark in one of New Orleans’ most iconic locations, a task that demanded both precision and patience.

Selecting rental comparables in the French Quarter is far from straightforward. Rental rates can vary dramatically based on location and use. A bar on Royal Street might command a modest rate, while an antique store next door could lease for $80 per square foot. Just one block away on Bourbon Street, those values might flip. Adding to the complexity and further complicating the search for appropriate comparables, the Upper Pontalba is a four-story walk-up, which is common in cities like New York but rare in Louisiana.

After a month of meticulous research and analysis, my firm delivered a comprehensive and credible appraisal report, accounting for the property’s unusual scale, diverse uses and rich historical context. The Upper Pontalba Building is a testament to the challenges and rewards of appraising the atypical in one of America’s most storied neighborhoods.T

INFLUENCERS ESTATE

DEMAND IS LOWER, BUT PRICES AREN’T.

That about sums up the real estate market right now — both residential and commercial.

According to the National Association of Realtors’ Commercial Real Estate Report for the New Orleans/ Metairie Metro Area, from firstquarter 2024 to first-quarter 2025, demand for office, multifamily, retail and industrial spaces in the metro area was weaker here than in other metros nationwide, yet prices for all but office spaces rose faster than the nationwide averages.

In the New Orleans Metro, office vacancy rates climbed from 6.8% to 7.5% while avgerage market rents remained at $21 per square foot. In multifamily, vacancy rates rose from 8.1% to 8.7% and average rents per unit increased from $1,288 to $1,308.

INFLUENCERS REAL ESTATE

Vacancy rates in retail also rose from 3% to 3.7%, along with average market rents — $22 to $23 per square foot. And in industrial, vacancy rates rose from 3.5% to 3.9% while market rents per square foot increased from $10 to $11. Total sales volume for industrial saw a deep decline — from $13.68 million in the first quarter of 2024 to $5.35 million in the first quarter of 2025.

On the residential side, according to the NOMAR Market Local Market Update for the New Orleans Metro, from July 2024 to July 2025, new listings decreased 5.4%, and average days on market increased from 61 to 68. Average sales prices, however, were up 4.2% (from $348,167 to $362,892).

With nervousness around the economy, paired with increased prices on building supplies and a continuing insurance crisis, the real estate industry is being hit on all fronts. Yet, this year’s group of industry influencers remains cautiously optimistic and focused on helping individuals and businesses continue to move forward toward their goals.

REAL ESTATE INFLUENCERS

Rêve Realtors is a locally owned brokerage that launched in 2018. By 2020, it had become the No. 1 office by sales volume in Orleans Parish and has maintained that position since. The brokerage has expanded with offices in Baton Rouge and Covington.

WHAT ARE YOU MOST EXCITED ABOUT IN THE COMING YEAR?

I’m most excited about our growth both in scale and in depth. On one hand, we’re expanding our footprint and strengthening our presence in Louisiana, giving agents and clients more opportunities within a company that’s deeply rooted locally, yet globally connected. On the other hand, we’re focused on strengthening the bonds within our team and with our clients, which is our 2025 theme: Connect. We know that real estate isn’t just about properties, it’s about people. I see big opportunities in leveraging technology, training and partnerships to create better experiences for everyone we serve.

WHAT IS THE BIGGEST CHALLENGE FACING YOUR INDUSTRY TODAY?

The biggest challenge we face today is the cost of insurance. Premiums have risen so dramatically that many buyers are being priced out of the market, directly slowing real estate sales and stalling growth in our communities. While interest rates rise and fall in cycles, insurance affordability is a deeper structural issue that requires immediate reform. Our representatives at both the state and national level need to make this a top priority. Addressing these costs isn’t just about helping individual buyers and sellers, it's about keeping our housing market strong and ensuring Louisiana remains a place where families can thrive.

REALTY LATANYA LABRANCH

BROKER/ OWNER

LABRANCH & ASSOCIATES

PRESIDENT

GSREIN NOMAR

LaBranch & Associates (Weichert, Realtors®) is a trusted, full-service real estate brokerage rooted in Southeast Louisiana. The firm blends mentorship, technology and a culture of excellence to develop top talent and deliver exceptional client experiences in residential sales, relocations and new construction.

What are you most excited about in the coming year? I’m energized by the opportunity to deepen our brokerage’s impact — both in agent development and community service. We’re launching enhanced mentorship and training programs to empower agents at every stage of their careers. What excites me most is supporting an agent’s first big breakthrough or the moment they exceed their own expectations. On a broader scale, being recognized as 2024 Manager of the Year by NOMAR reinforces our mission — to stand as a beacon of professionalism and leadership in the local industry. I’m looking forward to building on this momentum, elevating our services and continuing to nurture a culture of excellence.

What is the biggest challenge facing your industry today?  Navigating a market defined by affordability challenges, high interest rates and evolving client expectations is complex but also presents opportunities. Change in commission structures and increased use of tech platforms have shifted how clients find and experience real estate. The real challenge is upholding the human touch amid innovation. Having served as the first African American female president of the NOMAR and GSREIN boards — roles that taught me much about leading change and bridging divides — I’m committed to balancing innovation with empathy and advocacy. Our goal is to lead with both progress and principle, ensuring that quality guidance remains at the heart of every transaction.

CONSTRUCTION MARCUS CAMPO

REAL ESTATE INFLUENCERS

PRESIDENT/CEO

NOLA BUILD CONSTRUCTION & DESIGN INCOMING PRESIDENT HOME BUILDERS ASSOCIATION OF GREATER NEW ORLEANS

Based in St. Bernard Parish, NOLA Build specializes in custom home construction and commercial/institutional projects for both public and private clients across Southeast Louisiana. For more than 25 years, the company’s work has been grounded in expert craftsmanship, a strong commitment to safety and a reputation for operational excellence. NOLA Build has worked in collaboration with oinstitutions such as Nunez Community College, the Archdiocese of New Orleans, the Louisiana National Guard, and the St. Bernard Port — as well as for hundreds of families across the region.

What are you most excited about in the coming year? This year brings a lot to be grateful for — both personally and professionally. I’ll be stepping into my role as president of the Home Builders Association of Greater New Orleans, and I’m honored to lead at a time when housing, workforce development and construction standards are playing a pivotal role in shaping the future of our region. It’s a meaningful opportunity to advocate not only for builders, but also for homeowners and the communities we serve.

What is the biggest challenge facing your industry today? We’re working to advance smarter building policies, stronger safety standards and long-term investments in skilled labor — all of which are vital as our industry faces rising costs, labor shortages, permitting delays and insurance volatility, especially in coastal areas like ours. At NOLA Build, we’re navigating these challenges by staying focused on what we do best — delivering exceptional custom homes and expanding our commercial and institutional presence beyond Southeast Louisiana to serve clients across the U.S. On a personal note, I’m about to become a grandfather — and that shift in perspective has been incredibly meaningful. As we continue shaping our family farm into a place where loved ones can gather and grow together, I’m reminded why we build: to create lasting spaces that reflect who we are, bring people closer and stand the test of time. That’s the kind of purpose I bring to every project we take on.

AFFORDABLE BRENDA BREAUX

WHAT ARE YOU MOST EXCITED ABOUT IN THE COMING YEAR?

Multiple things excite me! We’re excited to launch several new initiatives that create more resilient housing and stronger communities. With the Housing Trust Fund, we now have permanently dedicated resources to address long-standing housing challenges. Other initiatives include the Double Up Duplex affordable homeownership program with built-in rental units, a 50-unit Fortified Gold mixed-income development on vacant city land, and non-congregate housing for the unhoused on Tulane Avenue. We’re also partnering with NOLA Public Schools to repurpose two former school buildings into housing and mixed-use spaces. Beyond housing, we’re implementing the Early Childhood Education Facilities Grant Program to improve childcare centers and providing microgrants to support small businesses in low- and moderate-income corridors. What excites me most is seeing these projects come to life with residents at the center because that’s how real, lasting community change happens.

WHAT IS THE BIGGEST CHALLENGE FACING YOUR INDUSTRY TODAY?

The greatest challenge is balancing urgent housing needs with long-term sustainability. Rising construction costs, shifting market conditions and limited resources often slow progress at a time when families need safe, affordable housing more than ever. At the same time, we must ensure our work is inclusive and forwardlooking: not just homes, but neighborhoods that are resilient against economic and environmental pressures. For NORA, this means forging stronger partnerships, leveraging every available tool and keeping community voices at the heart of decision-making. The challenge is significant, but it’s also what drives us to innovate and push harder toward solutions.

EXECUTIVE DIRECTOR

NEW ORLEANS REDEVELOPMENT AUTHORITY

In 2012, the New Orleans Redevelopment Authority (NORA) became the steward of 5,225 former Road Home properties. The organization transformed vacant lots into vibrant homes and community assets.¶ Through the Lot Next Door Program, 1,748 properties were returned to use, and 1,037 affordable and 2,170 market-rate homes were developed. ¶ NORA also helped revitalize

commercial corridors, supporting anchor projects like Whole Foods, Walmart in Gentilly, Bohn Ford, Bayou Treme Center, Dryades Market, Café Reconcile, and the renewal of O.C. Haley

COMMERCIAL MELISSA WARREN, CCIM

WHAT ARE YOU MOST EXCITED ABOUT IN THE COMING YEAR?

I’m thrilled about the establishment of the NAIOP Gulf Coast Chapter of the National Development Association, where I am honored to serve as president. This year, a group of industry leaders united with a shared mission: to advance the growth of the commercial real estate development industry across the Gulf Coast.

It has been truly inspiring to work alongside our board in launching impactful programming, hosting hard-hat tours of new developments, driving meaningful legislative advocacy, and fostering relationships with key stakeholders. Together, we aim to strengthen the marketplace and create expanded business development opportunities throughout Louisiana, Mississippi, and Alabama’s coastal regions.

The strong engagement we’ve received from economic development organizations, developers, and industry service providers underscores the clear need for this type of collaboration — and our board is excited to continue building momentum.

WHAT IS THE BIGGEST CHALLENGE FACING YOUR INDUSTRY TODAY?

Ever-rising insurance rates continue to be our biggest industry challenge. This, coupled with the high cost of borrowing, have become significant hurdles for investors. We must find a solution to make owning and operating real estate more affordable.

In Orleans Parish, additional challenges stem from complications within the permitting office, as well as planning and zoning processes, which continue to result in delay and add costs to sales and leasing transactions.

We need a plan that provides clear, efficient process and accountability.

Stirling is a leading full-service commercial real estate firm with more than five decades of proven experience. The firm provides a comprehensive suite

of services — including commercial advisory, asset and property management, development and redevelopment, and investment sales — across a wide range

of property types such as retail, office, industrial, healthcare, multifamily and hospitality. Stirling has nine full-service offices located throughout the Gulf South. ¶

What are you most excited about in the coming year? We are honored to host the National Apartment Association’s Apartmentalize Conference in June 2026, when it returns to New Orleans for the first time in 15 years. This premier event will welcome more than 13,000 industry professionals from across the country and around the world. Attendees can choose from more than 90 expert-led sessions covering maintenance, operations, leasing, affordable housing, marketing, leadership and industry trends. With world-class speakers, 250-plus suppliers showcasing the latest innovations, and unmatched networking opportunities, Apartmentalize is the ultimate rental housing gathering, and we are proud to be the host affiliate and city.

What is the biggest challenge facing your industry today? One of the greatest challenges facing the multifamily industry, locally and nationwide, is the steady stream of legislation that would adversely impact our members and, ultimately, renters throughout the country. In Louisiana, we face such proposals every year. The Apartment Association of Greater New Orleans works tirelessly to educate its members, keep them engaged in the legislative process, and inform legislators about how proposed legislation will impact both renters and the multifamily industry. ¶ Another major challenge is the sharp rise in insurance costs for property owners and members across the board. Balancing these increases while keeping rental rates reasonable is a constant struggle. Staying proactive, united and informed is key to protecting the vitality of our industry.

ASSOCIATION EXECUTIVE

APARTMENT ASSOCIATION OF GREATER NEW ORLEANS

Representing over 45,000 rental units, the Apartment Association of Greater New Orleans provides professional services, legislative advocacy and nationally recognized education for owners, managers, suppliers and maintenance teams. Recent successes include hosting a town hall with mayoral candidates and key real estate partners, advancing fair housing awareness and compliance, and advocating on behalf of members at the capitol in Baton Rouge. A trusted advocate and resource, the association promotes best practices, industry growth and quality rental housing across the Greater New Orleans area.

REAL ESTATE INFLUENCERS

PRESIDENT

LARRY G. SCHEDLER & ASSOCIATES

Larry G. Schedler & Associates, Inc. is a boutique brokerage firm that specializes exclusively in the acquisition of large multifamily properties throughout Louisiana.  Since the founding of the firm, LGS & Associates has had a strategic alliance with Cushman & Wakefield of Atlanta and is part of their Multi-family Sunbelt team. Through this alliance, they have handled the sale of over 65,000 apartments units in the state representing sales in excess of $ 5.5 billion. Some notable transactions include Canal1535, The Collins, American Can Apartments, Arden Park, Tapestry Long Farm and Houma Highlands.

What are you most excited about in the coming year? I am encouraged by the fundamentals in the market; supply and demand are in sync and the decrease in construction starts will undoubtedly further strengthen the market. The lack of developable land in the New Orleans Metro creates a franchise of sorts for multifamily owners as unbridled development is virtually impossible. This phenomenon is not the case in most Sunbelt markets. It has been exciting to see the evolution in development with new designs such as The Metro at Clearview, South Market District and adaptive reuses such as 624 Jackson.

What is the biggest challenge facing your industry today? Insurance, jobs and affordable housing. Although punitive insurance premiums have seen declines, they remain significant and a barrier to the economic feasibility of both existing and future properties. Occupancy and rent growth are directly related to employment, and the creation of well-paying jobs will be critical to the long-term stability of our multifamily market.  Affordable housing is an issue throughout the country, and certainly New Orleans has a significant need. The affordable housing needs will be met through public/ private partnerships. Increased construction cost does not allow for the development of affordable housing without some type of government subsidies.

WHAT ARE YOU MOST EXCITED ABOUT IN THE COMING YEAR?

I am most excited about boosting membership engagement with the many new and exciting programs NOREIA is offering to its members. For instance, in November we will be hosting the first annual networking cruise on Carnival Cruise Lines out of New Orleans. Participants will enjoy educational and networking meetings as well as a murder mystery dinner based on real life circumstances in real estate. Some of our new programs this year are “Ask the Experts” and the new “Accountability Call.” Both will allow members direct access to our seasoned real estate investors with the opportunity to ask questions and be mentored by professionals active in the market. We are also excited about hosting the National Real Estate Investors Leadership Conference this year in New Orleans and looking forward to making a positive impact on our community and on the lives of millions of people.

WHAT IS THE BIGGEST CHALLENGE FACING YOUR INDUSTRY TODAY?

There are many — the most significant being high housing prices as well as interest rates that are twice as high as they were just a few years ago. Additionally, investors and homeowners alike are having to deal with higher insurance costs as well as higher taxes and construction costs. We also have many homeowners with very low-interest rate loans that cannot afford to sell their home and "move up" to a more expensive dwelling because of the higher interest rate. This leads to a tighter housing market which allows sellers to keep their prices high in spite of the higher interest rates. This leads to frustrated buyers, sellers and investors alike.

INVESTING LINDA LOCASCIO

New Orleans Real Estate Investors Association, known as NOREIA, is a trade association for real estate professionals dedicated to promoting ethical real estate investing through educational and networking opportunities as well as community, legislative and public relations.

As the broker/owner of Linda Lane Realty and a leader in the real estate market, Linda Locascio is honored to be the first female president of the premiere real estate investing club in the Gulf South region.

COMMERCIAL

JESSICA WALKER AND DAVID DEMSEY

Founded in 2019, workshopWDXL is a multidisciplinary real estate development and architecture firm with a focus on placemaking, storytelling and transforming overlooked sites and buildings into vibrant spaces that connect people. This is exemplified by the firm’s urban infill boutique hospitality project, The Syd, the recipient of an American Institute of Architects’ National Small Project Award in 2025.

WHAT ARE YOU MOST EXCITED ABOUT IN THE COMING YEAR?

We are working on an adaptive reuse of a historic corner store in the Lower Ninth Ward into an early childhood education center, which is a complicated project that involves pursuing multiple funding sources, including federal and state historic tax credits. While pursuing this grant, we became technical advisors to support other ECE grant applications around the city.

We believe New Orleans is a fantastic place to visit, and our approach to hospitality is to create beautiful, unique, and financially viable projects where they elevate and preserve the fabric of New Orleans. We have three hospitality developments in the pipeline, including adaptive reuse of a historic warehouse, adaptive reuse of a historic hospital and an urban infill new construction project where we are pursuing a number of strategies including historic tax credits, opportunity zone funding, new market tax credits, restoration tax abatement and leveraging bonus depreciation.

WHAT IS THE BIGGEST CHALLENGE FACING YOUR INDUSTRY TODAY?

We are pursuing developing affordable housing in New Orleans and advocating for affordable housing reform to the zoning with the City Council. While great steps have been taken by the city, more support and creativity is needed to unlock this project type. This is due to a confluence of factors that impede small commercial projects of all types and especially small housing projects which are classified by code as commercial structures. High interest rates, high construction costs, and high insurance costs continue to plague real estate development in New Orleans.

What are you most excited about in the coming year? The transformative role artificial intelligence will play in reshaping the insurance industry. For decades, our work has revolved around analyzing risk, tailoring coverage and helping clients prepare for the unexpected. With the advancements in AI, we now have tools that can enhance every step of that process.

AI-driven data analytics will give us the ability to anticipate client needs more accurately and provide solutions faster than ever before. For example, AI can streamline policy comparisons, claims processing and risk assessments, which means clients can make better-informed decisions in less time. It also opens the door to personalized insurance solutions that adapt as life or business circumstances change.

Beyond efficiency, AI is also improving communication. Intelligent automation can handle routine tasks, freeing our agents and service professionals to focus on building deeper, more meaningful relationships with clients.

What is the biggest challenge facing your industry today? One of the biggest is navigating the balance between rising costs and maintaining affordability for clients. At the same time, clients’ expectations are evolving. They want not only competitive pricing but also faster service, more personalized solutions and clear communication. Meeting these demands while operating in an environment of shrinking margins is no small task.

Carriers and agencies are also under pressure to invest in tools that streamline processes and enhance the client experience. While these innovations are exciting, they also require significant resources and thoughtful implementation to ensure that technology enhances, rather than replaces, trusted human relationships that are at the heart of our industry.

Swanson Insurance Agency, a HUB International company, has proudly served the New Orleans community and surrounding areas since 1985. As an independent agency, the company provides tailored, competitive solutions that protect what matters most, whether it’s homes, businesses, automobiles or families. Swanson’s recent acquisition by HUB International expanded its market access, strengthened the company’s back-office support, and enhanced its investment in technology, ultimately providing clients with more options and resources.

FROM THE LENS

After creating a successful coworking space in New York, New Orleans native Catherine Hover teamed up to bring a new space to Covington this past August

FROM THE LENS

FROM NEW YORK TO NEW ORLEANS

After creating a successful coworking space in New York, New Orleans native Catherine Hover teamed up to bring a new space to Covington this past August

BY MISTY MILIOTO

PHOTOS BY JEFFERY JOHNSTON

On August 13, Palette Northshore celebrated its grand opening at 201 Holiday Boulevard in Covington’s Holiday Square.

According to Palette’s Chief Experience Officer Amanda Delaup, Palette Northshore represents the first space of its kind in the area that is designed specifically to help local businesses and entrepreneurs thrive.

Palette aims to create a true entrepreneurial ecosystem. Programming initiatives include “Pitch it at Palette,” a partnership with MC Bank that challenges nonprofits to collaborate on solving community needs for substantial funding opportunities.

Palette came about through an unlikely convergence of like-minded individuals, each bringing their own piece to what would become a transformative vision for the Northshore.

Catherine Hover, a New Orleans native who started Palette as a women’s co-working space in Upstate New York, wanted to bring the concept back to her home region. Through GNO, Inc., she connected with local business leaders Marty Meyer, Bradley Cook and Rory Gallardo.

“Ultimately, it was this collision of multiple people attempting to do similar endeavors, and each was willing to lean on the other to create a

reimagined idea for co-working,” said Gallardo, CEO at The Galla Group and now a co-owner at Palette.

Rather than simply providing space for entrepreneurs, Gallardo found himself becoming part of the driving engine and vision for what the group believes will become a major accelerator for business development on the Northshore.

To create this entrepreneurial hub, the four founders aimed to blend co-working, community and business development. Their shared vision came to life through a comprehensive renovation of space within The Holiday Square business plaza on Highway 190 in Covington — a location chosen for its position in the heart of the Northshore.

What began as an empty suite has been completely transformed through an extensive renovation process between December 2024 and July 2025. The project required significant structural changes, including moving walls, installing a 20-foot I-beam to open up the co-working area and combining four separate suites into a single, cohesive 5,400-square-foot space.

The renovation also included new plumbing, electrical and HVAC systems, along with the conversion of existing offices into a conference room and large education space.

Located within The Holiday Square business plaza off Highway 190, Palette Northshore has been a fast hit with entrepreneurs in just a few months.

QUICK LOOK

Number of years

1

Style of architecture Modern

5,400

Number of Employees

1

Persons in Charge

Amanda Delaup, CEO

Architecture

Greenleaf Architects

Interior Décor

Southern Interior

Solutions

Art and furnishings

Spaces That Work (SIS)

Working with Greenleaf Architects, the team created a space that balances functionality with flexibility.

“The design strikes a balance between functionality and flexibility,” Delaup noted. “It not only supports the needs of our members for daily work and connection but also seamlessly adapts to accommodate a wide range of events and gatherings.”

The design philosophy behind Palette centers on creating a vibrant, modern and intentionally dynamic environment that reflects the energy of an entrepreneurial hub. Floor-to-ceiling windows flood the space with natural light, while arched doorways and glass walls help define distinct zones — all while maintaining an open, connected feel.

In addition to an open coworking area, the space includes private single offices, shared desk spaces, a classroom available for training and local business rentals, and a fully equipped conference room. One notable feature is a podcast studio, created in partnership with Lettuce Media to meet the growing industry demand for podcast production among entrepreneurs.

Meanwhile, the furnishings combine cozy lounge seating, high-top tables and collaborative work areas, allowing for both casual conversations and focused productivity. The design maintains cohesion while offering diversity in work environments, with a focus on creating a welcoming atmosphere for both daily use and community events.

The space will feature rotating art installations from local artists, giving them opportunities to display and sell their work within the community.

Like many renovation projects, Palette faced unexpected challenges that required creative problem-solving.

“Renovation projects often come with more unexpected challenges than new construction,” Delaup explained. Once construction began, the team encountered several unforeseen structural issues that required quick thinking and adaptive solutions.

“The beam in the working space required us to redesign where the support footing would go,” said Gallardo. “We had to completely reroute the roof drains that come down from the roof into subfloor drains.” The electrical

system presented another challenge, requiring electricians to build a new meter box to avoid months of delays.

The landscaping was equally ambitious. Here Keith Morel with Pure Drainage rebuilt subsurface drains for the entire property, installed new electrical and sprinkler systems, and laid pavers over mature garden beds with 30-year-old root systems that had to be removed.

With approximately 50 entrepreneurs using or committed to the space within less than a few months of opening, Palette is positioned to become more than just a coworking facility.

“We are a community first and foremost,” said Gallardo, “and we hope that what we build empowers our members and our community to engage with one another in positive ways.” T

The 5,400-squarefoot space includes private offices, shared desk spaces, a classroom, fully equipped conference room and a podcast studio. Decor includes rotating art installations of pieces from local artists available for purchase.

FEELING SALTY

BY ASHLEY MCLELLAN

PHOTOS BY EDMUND D. FOUNTAIN

Tiffany Middendorf and Rebecca Rouselle opened The Grotteaux on Magazine Street to bring holistic, relaxing halotherapy to New Orleans. Halotherapy has been practiced for centuries to alleviate a range of symptoms and to promote healing.

The idea that breathing in salt-infused air could be good for you began in the 12th century in Eastern Europe and was refined in the 1800s when it was observed, according to WebMD, that Polish salt miners of that era rarely developed lung infections or colds.

“Over time, Eastern European salt mines or caves became popular tourist destinations,” notes the site. “People from all over the world visited to inhale the salty air and ease their lung problems.”

For Tiffany Middendorf — a naturopath, midwife and owner of Saige Birth Center and Midwifery on Magazine Street — a lightbulb went off when she visited a salt cave in Florida last fall. She immediately thought of bringing the benefits of salt therapy to her pregnant and postpartum clients as well as the wider community.

DID YOU KNOW

According to WebMD.com, halotherapy treatments may help relieve:

• Respiratory allergies

• Cold or cough

• Sinusitis

• Rhinitis

• Tonsillitis

• Acne and rosacea

• Skin allergies

• Rash

• Dermatitis

• Wrinkles and signs of aging skin

She quickly enlisted the help of respiratory therapist Rebecca Rouselle, who serves as administrator at Saige Birth Center and owner of Pax Matris, which provides childbirth education and birth-tub rental services.

“With our existing partnership at Saige Birth Center, it was a natural fit for [me] to join the venture,” said Rouselle. “Our birth center clients quickly became regulars in the salt room. One of our favorite offerings is treating postpartum moms to a deeply relaxing halotherapy session — supporting both their recovery and their sense of calm.”

For Middendorf and Rouselle, launching The Grotteaux was the culmination of firsthand experience and a desire to bring a holistic approach to healthcare to New Orleans.

The salt room itself was carefully constructed and designed inside the birth center, with special attention paid to structural challenges as well as color schemes intended to maximize the effectiveness of the overall therapy experience.

“We needed to support nearly 2,000 pounds of Himalayan salt — 5 inches thick on the floor

and forming a glowing feature wall made of salt bricks,” explained Rouselle. “The room includes a hanging swing which is both relaxing and fun. We maintain precise temperature and low humidity to create the ideal environment, complete with zero-gravity chairs, calming sound machines, cozy blankets and fresh socks for added comfort.”

While the warm glow of the salt wall fills the space with a peaceful ambiance, a discreetly installed salt generator releases fine, pharmaceutical-grade salt particles.

“Halotherapy is safe for adults and children of all ages and offers a wide range of benefits,” noted Rouselle. “It helps clear mucus, reduce inflammation, and improve lung function — making it especially helpful for those with asthma, allergies, bronchitis or COPD.”

Rouselle added that salt’s natural anti-inflammatory and antibacterial properties can also improve skin conditions like eczema, acne and psoriasis.

“Many clients notice reduced stress, better sleep and an immune boost thanks to salt’s antimicrobial effects and negative ions, which may help balance serotonin,” she said. “Pregnant and postpartum clients, athletes and anyone seeking improved breathing, relaxation, and recovery can all benefit.”

Individual treatments at The Grotteaux are $35 per 45-minute session, and $60 for a couple’s session. Additional options include a family session (two adults and two or more children) for $70, a child add-on session for an individual adult for $5, and group sessions available with varying rates per consultation.

According to The Grotteaux’s website, private booking occasions may include bridal and bachelorette parties, team-building sessions and group wellness.

“We love hosting intimate, private events for four to six guests — perfect for girls’ days, bachelorette parties, family outings, team-bonding or simply a shared moment of relaxation,” said Rouselle. “Each session includes soft blankets, fresh socks and a complimentary beverage.

You’re welcome to bring your own drinks or personal touches to make the experience yours.”

For Middendorf and Rouselle, The Grotteaux is just getting started with its efforts to bring salt therapy to a wide variety of clients across the area, including outreach, new therapeutic treatments and programs aimed at bringing holistic healthcare specifically designed for women.

“This fall, we’re excited to offer more community salt therapy sessions, especially those in combination care with our neighbor acupuncturist,” explained Rouselle. “We’re also launching La Mère, a new wellness program designed especially for postpartum mothers but open to all women. Inspired by the South Korean spa model Joriwon, La Mère combines a salt therapy session with a soothing herbal bath, rest in our Magnolia Suite, and a nourishing meal — plus optional acupuncture and massage — to provide much-needed postpartum support beyond the typical six-week checkup.”

Spas and retreats have become increasingly

popular across the U.S. and are projected to grow exponentially by the end of this decade. According to a January 2025 report from Market.us Media, “The United States spa industry generated approximately $20.8 billion in revenue in 2022, and the spa services market — including massage services, beauty and grooming, and physical fitness is projected to reach over $133 billion by 2027.”

Spa-goers are more often looking for ways to experience holistic healing with experiences that allow them to “unplug.” According to spa-awards. com, some of the top 2025 winning spa treatments include biophilic design and nature-based treatments, with “spaces [that] use natural light, greenery, and organic materials to enhance relaxation and well-being; energy healing therapies to “align the body’s energy flow;” and holistic digital detox spaces that “encourage guests to disconnect from devices, engage in mindfulness practices, and participate in silent retreats, guided meditations, and journaling sessions.”

The salt room is located within Saige Birth Center on Magazine Street (a room of which is pictured on the bottom right). Comfortable seating and some children’s toys are provided to help visitors of all ages relax in The Grotteaux while benefiting from the salt wall.

For Rouselle and Middendorf, what sets The Grotteaux’s approach to both a spa experience and halotherapy specifically is its overall one-on-one attention to the client or clients.

“The biggest difference we see is between strictly therapeutic therapy — where clients enter a small chamber focused only on salt exposure — and the experience at The Grotteaux, which combines therapeutic benefits with a unique, tranquil and immersive environment,” said Rouselle. “Our larger salt room offers space for individuals or groups to enjoy healing alongside memorable, shared experiences in a calming atmosphere.” T

El Exquisito

National politics have impacted this Kenner restaurant, but the owners are hopeful that fear is subsiding

BY KEITH TWITCHELL

My wife had worked as a waitress for three years, and her family in Honduras had always been cooking,” recounted Eric De La O, co-owner with his wife of El Exquisito Restaurant.

“They inspired us to open up a restaurant.”

This couple’s vision became reality in 2021, when El Exquisito began serving Honduran and Mexican-based cuisine seven days a week, from 10 a.m. to 9 p.m. The bright and friendly environment features table and bar seating, and two colorful murals on the floor. A plastic version of a green wall adds more color, as do bright plastic flowers and a topiary out front.

On a menu packed with fresh ingredients and authentic recipes, De La O noted his personal favorites are a traditional Mexican seafood dish called molcajete and a Honduran version of fried chicken called pollo con tajadas.

De La O estimates that 60% to 70% of his clientele are drawn largely from Kenner’s

substantial Latino population, though he is quick to add that plenty of non-Hispanic Kennerites also stop in.

The restaurant found such quick success that the owners started thinking about expanding.

“Last year was fantastic, the best year yet,” he noted. “We were even preparing to open a second location.”

Unfortunately, with the current federal immigration enforcement measures, he said he’s noticed Latino residents, even those nativeborn or in the country legally — have become wary of going out. To his relief, he said the situation does seem to be easing slightly, with recent weekend dinner crowds at his restaurant returning to near normal as of late.

While any expansion plans are temporarily on hold as he monitors customer flow, the sudden customer drop has inspired De La O to diversify his clientele. He has recently begun advertising on local radio to complement his existing social media outreach.

Another way El Exquisito draws in more business is through weekend karaoke nights. While

most of the music is Latino, De La O noted participants of all backgrounds enjoy singing the songs. The restaurant also offers catering, as well as food to go.

To keep the diners coming back, along with the food De La O puts a strong emphasis on customer service, the importance of which he constantly stresses to his staff of nine.

“We tell the servers that every day they have to bring their best,” he said, adding with a laugh, “Sometimes I think our service is the best flavor we’ve got here.”

Still, the cuisine is the main attraction at El Exquisito. The menu features plenty of seafood items, and the mix of classic Honduran and Mexican recipes sets the restaurant apart from many other Latino restaurants. Prices are affordable and the portions are generally large.

Despite the recent slowdown, the affable De La O remains optimistic.

“We see that people are starting to go out again,” he observed, “and we are still here.” T

Katie Jensen

Co-Founder and CEO of Triton Stone

I am so

to travel

to be

and procure the most amazing natural stone and other products, all while working with the best team in the industry!

Over the years, Triton has grown from a single location licensee to purchasing the Triton brand, opening or purchasing numerous branches, and becoming one of the largest natural stone importers in the Southeast U.S. with 31 locations across 17 states consisting of slab and tile galleries, fabricator supply centers and regional distribution centers. T