Airbnb compliant

There's a housing crisis in New Orleans. Luckily our policymakers and real estate investors are coming up with solutions that meet the demands of their most important constituents and clients.

Developer Jerard Ward on Oct. 31 broke ground on The Saxony, a 75-unit, five-floor condo building at Burgundy and Bartholomew streets in Bywater. With units ranging in size from studios to three bedrooms and amenities that include a pool, courtyard and private balconies, marketers tout the site's "historic" surrounding neighborhood and its proximity to the Mississippi River.

Also, the units will be "Airbnb compliant," Latter & Blum Marketing Director Stephen Waring noted. With pricing on the units ranging up to $645,000, or $450 a square foot, the ability to put a unit to work as a short-term rental could be crucial for some owners.