John Pourciau, Legislative Director District B, says our entrepreneurs, our millennials, our elderly, everybody is really feeling the bite of this.
That’s why council members approved a rule that would give developers an incentive to include space for people in multiple income brackets.
We’re told they’ve seen rent increases of up to 50% in the past 3 years, making it difficult for people to stay.
New Orleans resident Steve Schmid says “it used to be cheap on this side and expensive on that side. now it’s expensive on both sides.”
Councilwoman Latoya Cantrell sponsored the new zoning strategies.
She’s been working alongside the greater New Orleans fair housing action center as well.
The idea is to welcome new residents and keep the cultural producers New Orleans is famous for.
According to the U.S. Department of Housing and Urban Development, the New Orleans area median income for 2015 is $60,000 annually for a family of four.
For a family of three, 50% of median income would be $27,000 annually.
This means in order for a developer to partially qualify for the new zoning incentive, they would need to set aside at least five percent of their units for that lower income bracket.
It’s the first step of several intended to keep the people who call New Orleans home, happy.
Dennis Mcneal, a New Orleans resident thinks it’s a smart idea because it seems every year rent increases.