NEWS

DDD TURNS 40!

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rsz_140th_v2This year the DDD is celebrating 40 years in operation, working to drive the development of Downtown New Orleans, making it the prosperous, stimulating, innovative hub of the Crescent City.

The DDD was created by the Louisiana Legislature in 1974 as the nation’s first assessment-based business improvement district (BID) to provide enhanced services in economic development, cleaning and safety.

Today, Downtown boasts:

  • $6 billion in investment since 2005
  • $800 million in real estate development assisted by LA Historic Tax Credit, one of the DDD’s hallmark initiatives
  • 43 national retailers added in last 12 months including Neiman Marcus, Tiffany & Co, The Art of Shaving and many more
  • 142,764 people Downtown on an average weekday
  • 176 restaurants and 32 sidewalk cafes
  • Almost 20% of “Vacant and Underutilized Properties” either redeveloped or under development in the last year
  • 5,100 residents Downtown core/ 40,000 in Greater Downtown area
  • 3,571 residential units; 2,000 units in the pipeline
  • 98% residential occupancy
  • Rents rising past $2.00 per square foot
  • One of the cleanest, safest communities in the city
  • Stay tuned throughout the year for brief features on key moments and projects in time that have led to today’s flourishing, vibrant Downtown as well as testimonials from some of those who make Downtown great.

Click here for an overview of the creation and development of your DDD throughout the years.

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