A look at the Capital Region market by the numbers. Plus outlook projections from those in the know.
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[ ILLUSTRATION: iSTOCK 60566802 or 59984060 or similar, but not one we have used frequently before. Or use a map of the three parishes and overlay the information on that.]
HED: Where the people are
SUBHED: Population growth between 2010 and 2014
+1.3%
Unincorporated East Baton Rouge Parish
+9.2%
Ascension Parish
+6.0%
Livingston Parish
+3.3%
Central
+6.4%
Zachary
SOURCE: U.S. Census Bureau
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[ ILLUSTRATION: Use the gears from iStock 33948458 ]
14.8%
Baton Rouge’s GDP growth since 2008, putting it among the Top 10 metros in the nation
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HED: Accolades
SUBHED: Select rankings for the Capital Region
No. 9
Top payroll to population cities
Gallup
2015
No. 2
Top ten metros for new projects
Site Selection
2014
No. 21
Best-Performing Cities Index
Milken Institute
2014
No. 1
Major Market of the Year
Southern Business & Development
2014
No. 1
U.S. Cities for Cost Competitiveness
KPMG 2014 Competitive Alternatives Report
2014
No. 25
Cities Leading in Recession Recovery
Wallethub
2014
OUTLOOKS [ PHOTOS IN RER-14 folder/Sprinkle these throughout the infographic. ]
“Assuming economic conditions remain the same, with low interest rates, and strong job growth, the Baton Rouge Market should continue to see robust retail expansion. Developments already underway such as Juban Crossing, Highland Park Marketplace and Rouzan are adding new tenants, and other recently announced developments such as Long Farm Village, and The Greens at Millerville should begin construction and make further announcements on their projects over the next twelve months. Laissez les bon temps roulez!”
Dottie Tarleton
Senior Broker Associate, Stirling Properties
“The ongoing industrial investments occurring in the petrochemical industry and the jobs being created by these multinational companies will continue to be one of the catalyst creating demand and growth for all of the real estate sectors (warehouse, residential, office and retail) within the greater Baton Rouge region throughout 2015. The impact is greatest along the Mississippi River, I-10 and 1-12 corridors. Expect this trend to continue if non-industrial development and building is kept in check at manageable levels.”
Scot Guidry
Mike Falgoust & Associates
“Demand for real estate in the Baton Rouge area across all segments (residential, commercial, industrial) is expected to remain reasonably strong throughout 2015. Declining oil prices (and the resulting pull-back in certain industry segments), state budget crises (with state government being the largest employer in the BR area) and looming regulatory changes at the federal level (ozone restrictions that could inhibit industrial expansions and new ventures) could lead to a softening of job growth stats, and a corresponding softening of demand for real estate for certain users. The wave of industrial and corporate expansions we’re riding, however, should keep the residential, commercial and industrial real estate segments strong and stable for the balance of the year.”
D. Wesley Moore II
Cook Moore & Associates
“Financial institutions doing business in our area are healthy and in the market for real estate loans, though tolerance for speculative risk will be low. Established developers and investors with existing stabilized properties will find the funds needed for acquisition. New development and construction will face increasing scrutiny over preleasing or presales and requirements for additional owner equity. The wild card will be energy prices and their lasting impact on our local economy.”
Brian Andrews
LSU Real Estate Research Institute
