A 19 million dollar project is announced for the New Orleans Warehouse District involving Idea Village and St. Joe Lofts which will be office space and loft apartments. Idea Village is a non-profit group that supports entrepreneurs to develope their business ideas. The Idea Village will occupy the first floor. The development will include 45 affordable units available to people earning under $35,000 per year or 60% of the area medium income. These are the sparks that our downtown area needs and is getting on a monthly basis.
The Idea Village and St. Joe lofts will begin construction with the next 2 months at 400 St. Joesph Street near Constance. The developer is Jay Trevor with J&T Development. The innovative project is expected to be complete in March 2009. It makes great sense to give people starting a new business an affordable place to start in the Warehouse District. Many of the former apartments and lofts have been converted into condos creating a healthy demand for rentals in a very innovative and creative part of town of town. Each addition is a building block in this neighborhood and to creating new jobs that will allow more people to buy. Its private enterprise that creates jobs.