The South Market District is a $200 million mixed-use development that will take up four blocks in downtown New Orleans being developed by The Domain Companies. Pre-leasing recently started on the first phase, The Paramount, a $48.4 million building that will include 209 apartments and 22,000 square feet of retail space. The Paramount is set to open in November. Units will rent for between $1,460 for a one-bedroom apartment and $2,100 for a two-bedroom.Building nice things for rich people downtown doesn't do anything to help bring down rents for the rest of us. It just adds nice things for rich people downtown. Which in turn leads to higher rents in neighborhoods adjacent to the nice things for rich people. Which then means, you have to move out of their way.
I don't understand why people are OK with this.