STATE OF DOWNTOWN
2026
A look into the economic health of Downtown New Orleans.
Table of Contents
LETTER FROM PRESIDENT & CEO .................................................. 2 BOARD + STAFF .................................................................................. 3 STATE OF DOWNTOWN: HIGHLIGHTS ............................................ 4 DEFINING DOWNTOWN ..................................................................... 5 DEMOGRAPHICS ............................................................................... 6 OFFICE ..................................................................................................7 RETAIL ................................................................................................. 9 TOURISM + HOSPITALITY ..............................................................10 TECH + INNOVATION ...................................................................... 11 RESIDENTIAL .................................................................................. 13 ARTS + CULTURE ........................................................................... 14 MOBILITY + TRANSPORTATION .................................................. 14
Note: Data presented may vary from previously reported figures due to ongoing enhancements within the Placer.ai and CoStar platforms.
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 ´ Q Q ´ ?> ´ Q 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. $ W ´ Q 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 ´ $ W N 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, $ W ´ 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
2
Seth Knudsen
Board +Staff
PRESIDENT & CEO
Charles Bourg CHIEF OF PUBLIC SAFETY & FIELD OPERATIONS
Dr. Michael J. McKnight, Sr. CHIEF FINANCIAL OFFICER
EXECUTIVE COMMITTEE
René Pastorek, AICP CHIEF ECONOMIC DEVELOPMENT OFFICER
Chris R. Ross
NAI RAMPART | CHAIR
Jared Brossett
Alex Glaser
DIRECTOR OF PUBLIC POLICY & EXTERNAL AFFAIRS
JONES WALKER | VICE-CHAIR
Donald G. Clouse
William Bradshaw II
PUBLIC SAFETY MANAGER
REIMAGINE DEVELOPMENT PARTNERS | TREASURER
Emma Hildreth MARKETING AND COMMUNICATIONS MANAGER
Ryan King
DELTA UTILITIES | SECRETARY
John Roussell
COMMISSIONERS
PUBLIC SPACE OPERATIONS MANAGER
Brandon Smith
Gregory Curtis
WINDSOR COURT HOTEL
QUALITY ASSURANCE MANAGER
Edwin Murray
Tyler Correa
LSU HEALTH NEW ORLEANS
ECONOMIC DEVELOPMENT SPECIALIST
David Piscola
Dajuantae Riggins
HILTON NEW ORLEANS
STAFF ACCOUNTANT
Scott Polakoff Kenny Rubenstein
Tempestt Woods
RUBENSTEINS
ADMINISTRATIVE COORDINATOR
Miles Tully, Jr.
Francia Barradas CHIEF OF STAFF TO THE PRESIDENT & CEO
Frank Zumbo
NEW ORLEANS MARRIOTT
DOWNTOWNNOLA.COM 3
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%
8%
office vacancy rate vs. 20.5% national average
24
new retail openings
YoY increase in median income
YoY increase in local visitation (within 10 miles)
39.6M Visits to Downtown in 2025
4
2%
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.
Area
1.2
Residents
Employees
Source: U.S. Census 2024 ACS 5-year
Source: Census on the Map 2023
4.6K
Walkable Square Miles
Downtown accounts for 30% of total sales tax collections attributed to Orleans Parish businesses
Downtown vs City of New Orleans Real Estate Taxable Value
14% City of New Orleans
$5.5B
DDD Contributes to 14% of the City’s Real Estate Property Taxable Value
30%
Downtown Development District
Source: Orleans Parish ! T / ´
57K
City of New Orleans
$754M
290M
Downtown Development District
$87M
Source: City of New Orleans, 2025 approximate
The Downtown Development District of the City of New Orleans (DDD) was created by the Louisiana Legislature >FDA W ´ I d")$e Q Q N 4 $$$ ) 3 Q 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.
5
Demographics TOTAL EMPLOYEES
TOTAL RESIDENTS 5k
70k 65,463
4,637
4.5k
60k
4,321
4k
56,386
50k 3,789
3.5k 3k
57,212
3,882
49,478
3,882 40k 30k
3,074
2.5k 2019
57,829
2020
2021
2022
2023
20k 2019
2024
2020
2021
2022
2023
4,637
57,829
Fast Facts about Downtown Residents
Employment Sector Breakdown
residents in Downtown New Orleans
employees in Downtown New Orleans
(30-59)
7 I make up the majority of the population
(60+)
3
Q I
Accommodation And Food Services
22.3%
Professional, Scientific, And Technical Services
14.9%
Health Care And Social Assistance
13.6%
Administration & Support
9.9%
Information + Finance & Insurance
10.4%
Median household income is up 8% YoY to
$93,583
Highlights
63.5%
/ ´ I of the Downtown economy accounting for more than 27% of all Downtown jobs in 2023.
Approximately of Downtown residents aged 25 and older hold a bachelor’s degree or higher
0 Q ´ Q employment has fully rebounded, exceeding its 2019 level and representing nearly 15% of total Downtown jobs.
Highlight
Visitor-serving industries are driving recent job growth, with accommodation & food services and arts, entertainment & recreation adding more than 7,000 jobs combined since 2021.
Downtown New Orleans continues to see growth in its residential population driven by desire for dense neighborhoods near jobs, restaurants, and amenities. Source: U.S. Census 2024 ACS 5-Year
6
Source: Census on the Map 2023
Office $ ´ Q $ . / # ! ´ spaces, with notable renovations and leasing activity in key buildings. The revitalization of historic properties and modern workspace solutions continues to attract businesses looking for a unique and vibrant Downtown environment.
Class A Office Inventory Property Name
Property Address
Total RSF
Hancock Whitney Center
701 Poydras St.
1,256,991
Place St. Charles
201 St. Charles Ave.
1,004,484
Entergy Centre
1100 Poydras St.
761,500
Pan-American Life Center
601 Poydras St.
671,883
One Canal Place
365 Canal St.
630,581
400 Poydras Tower
400 Poydras St.
608,608
Benson Tower
1450 Poydras St.
540,208
Bank Plus Tower
909 Poydras St.
531,929
1515 Poydras Building
1515 Poydras St.
529,474
Entergy Building
639 Loyola Ave.
526,041
1615 Poydras Building
1615 Poydras St
501,741
1555 Poydras Building
1515 Poydras St.
467,671
Poydras Center
650 Poydras St.
453,256
1250 Poydras Building
1250 Poydras St.
422,899
TOTAL
8,907,266 3 P # 2 Λ
7
CLASS A AVERAGE ASKING RENT PER SF ($) 20.5 19.95
19.74
20
19.87
19.5 19 18.86
18.77 18.61
18.5
18.51
18 2019
2020
2021
2022
2023
2024
2025
CLASS A OFFICE VACANCY RATE 25% 20%
17.3%
15% 10%
19.3%
17.4%
18.8%
15.9% 10.3%
9.3%
5% 0 2019
2020
2021
TOTAL OFFICE VACANCY RATE
12% 10%
12%
10.9%
8% 6%
13%
11%
7.2%
4% 2019
2024
DDD
12.0%
7.9%
2020
2023
National
2021
2022
2023
2024
3 P # 3 Q # 7 ´
8
2025
TOTAL OFFICE VACANCY RATE Compared to National
14% 12.3%
2022
2025
20.5%
Retail Downtown’s retail environment continues to evolve, led by strong growth in food and beverage. New restaurant openings are driving foot ´ W N
Number of Retail Businesses
476
Source: DDD Analysis of City of New Orleans Department of Permits and Safety Valid Occupational Licenses
AVERAGE RETAIL VACANCY RATE 7% 6.8% 6%
6% 5.3%
5%
5%
4.9%
4%
4.2%
3%
2.8%
2% 2019
2020
2021
2022
2023
2024
2025
TOTAL AVERAGE ASKING RETAIL RATE PER SF ($) $34 $32
31.77 31.59
$30 $28
27.23
28.92 26.44
$26 25.07 $24 2019 Source: CoStar
24.41 2020
2021
2022
9
2023
2024
2025
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
AVERAGE OCCUPANCY RATE (%) 80%
73.05%
60%
60.54%
40%
46.13%
64.48% 61.74%
61.48%
34.18%
20% 0 2019
2020
2021
2022
2023
2024
# of Hotel Rooms
22,667
2025
AVERAGE ADR & REVPAR $250 201
$200
175
$150 $100 $50
197
194
208
145 129
131
70
51
$0 2019
123
2020
2021
2022
2023
Avg ADR ($)
129
122
127
2024
2025
Avg RevPAR ($)
TOTAL VISITS DOWNTOWN 55
51.8
Millions
45
40.2
35
41.3
# of Hotels
40.1
39.6
30.5
25 15 2019
22.2 2020
2021
2022
2023
2024
10
2025
106 Sources: CoStar, Placer.ai
Tech + Innovation Co-Working Spaces
ADDRESS
CONNECT HUB
400 Poyrdas Street
HQ – NEW ORLEANS
201 Saint Charles Ave
THE SHOP AT THE CAC
900 Camp Street
SCALE NEW ORLEANS
612 Andrew Higgins Drive
BLACK TECH LAB
612 Andrew Higgins Drive
NEW ORLEANS BIOINNOVATION CENTER
1441 Canal Street
WOMEN’S BUSINESS ENTERPRISE COUNCIL SOUTH
401 Saint Joseph Street
COMMON HOUSE
420 Julia Street
NEW SHOP LOCATION
South Market District (TBD)
Incubators + Accelerators
ADDRESS
4.0 SCHOOLS
600 Andrew Higgins Drive
ADAPTATION HEALTH
900 Camp Street
CAMELBACK VENTURES
612 Andrew Higgins
CERES 504
938 Lafayette Street
GREATER NEW ORLEANS INC
1100 Poydras
IDEA VILLAGE
900 Camp Street
INVEST NOLA
1250 Poydras
NEW ORLEANS BIOINNOVATION CENTER
1441 Canal Street
POWER MOVES NOLA
1100 Poydras
11
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.
9
Co-Working Spaces Downtown
9
Incubators + Accelerators Downtown
Higher Education Institutions
Xavier Ochsner College of Medicine
Tulane University
LSU
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 ´
27
VILLAGEx companies have now raised $1M or more each
6.3K
registrants at NOEW 2025
Source: The Idea Village
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 Q ´ Q conference space
$100K
$6M
grand prize for BioChallenge
invested by BioFund in 30+ startups
500+
1000+
entrepreneurs served
high wage jobs created
Source: New Orleans BioInnovation Center
12
$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
AVERAGE VACANCY RATE (%) 25% 20%
19.65% 14.15%
15%
8.03%
10%
6.75% 6.35%
5%
6.88%
4.28%
0 2019
2020
2021
2022
2023
2024
2025
AVERAGE EFFECTIVE RENT PER UNIT ($) $2,050 $1.982.25
$2,000
$1,975.50
$1,950 $1,900
$1,989.50
$1,961.75
$1,908.75
$1,897
$1,850 $1,800 2019
$1,838.25 2020
2021
2022
Source: CoStar
13
2023
2024
2025
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.
Museums
9+
20+
Art Galleries
Entertainment Venues
11+
Mobility + Transportation Downtown remains a central node for regional transportation. Strong transit usage and multimodal access reinforce its accessibility and functionality.
# of Transit Routes Downtown 18
Bus
Streetcar
4
Annual Ridership Union Passenger Terminal 156,720
FY 2024:
170,051
FY 2025:
188,071
(via Amtrak service)
15,000 12,500 10,000 7, 500 5,000 2,500 0
9,498
12,825 2025 "53
Source: Amtrak
4
Downtown Boardings and Alightings by Mode Avg. Daily Passenger Boardings in CBD Neighborhoods
FY 2023:
Rail
1
Ferry
14
342%%4#!2
Source: Regional Transit Authority
LET’S MOVE FORWARD TOGETHER ABOUT THE DDD
Downtown Development District of the City of New Orleans ?;> 3 N # ! Q 3 @F>? New Orleans, LA 70170 | 504.561.8927 Created by the Louisiana Legislature in 1974 (LA Rev 3 r @@P?DA;N@e W ´ I " ) $ Q $ Development District of the City of New Orleans (DDD) provides enhanced economic development and $ . / N ) accomplishes its mission through initiatives assisting Downtown property and business owners, administering Q 0 3 Rangers, deploying Clean Team sanitation workers, ´ homeless, additional New Orleans Police Department patrols, and armed private security throughout its District. The DDD services the area bounded by ) 3 Q 0 % Q Claiborne Avenue, and the Mississippi River. DDD is funded by a property tax millage assessed on I $ N $$$W lifespan was initially ten years, and on December 8, 1979, a successful citywide referendum secured $$$N ) $$$ 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.
DOWNTOWNNOLA.COM