November 2021 - Bedico Creek Preserve

The covered front entry has a nice brick floor and custom lighting.

The Future Looks Bright for Camellia Bay, a New Casino Project Planned for St. Tammany

November 30, 2021/in Local News

P2E, also known as Peninsula Pacific Entertainment, has developed a plan to build a $329 million casino resort called Camellia Bay in St. Tammany on the vacant land close to Interstate 10 twin spans. Developers have been working on the proposal for months now and are ready for the vote by St. Tammany voters this December.

The project can have a great impact on St. Tammany’s economy. The casino would bring tourists to the area and draw them to other events and attractions that are helped along the Lake Pontchartrain waterfront in Slidell. Many locals are worried that the project could also have negative impacts on their community.

Some St. Tammany Community residents are concerned that the casino would bring crime and decline to property values. This is not necessarily the case according to the Convergence Strategy Group.

“Through the research we see moderately positive impacts from similar developments across the country all the way down to just no impact, but we have not been able to uncover the negative impacts that many communities have feared,” said Suzanne Leckert, an author of the study.

CSG is a research firm that is based out of New Orleans. They have over 40 years of experience in studying the leisure and gaming industry. According to their study, they found that a casino in the Slidell area would likely have a “moderately positive to negligible impact on surrounding businesses.”

The study included an intense look into the proposed development’s impact on the community. This includes a range of impacts from small businesses and tourism to crime and marriage or divorce rates. They looked at data that has been collected from the Bureau of Labor Statistics, the U.S. Census, municipal governments and interviews with local leaders.

Property values will not drop according to the study. CSG cited that after MGM Springfield opened in Springfield, Massachusetts property values saw a 21.4% increase compared to the smaller growth increase of 2.3% – 14.3% in surrounding areas. Another casino close to home in Baton Rouge, L’Auberge Casino, saw a higher property value increase close to the casino.

“The community impact study provides an abundance of data and information for St. Tammany residents to take into consideration to help them make an informed decision about this project,” Masingill said. “This project … has really been reviewed, has been scrutinized from every single angle. We know that there’s a significant campaign of misinformation and distortions and, look, we want people to have all of the information.”

Click Here For the Source of the Information.

This home has a wonderful front yard with professional landscaping and a courtyard.

The New Tunnel in Tammany Trace Will Be Opening Soon

November 26, 2021/in Local News

The Tammany Trace Tunnel broke ground in June 2019 and is about to be completed. The $3.5 million project is being built by Hard Rock Construction. The project will solve the dangerous impediment for bicyclists, joggers and those who enjoy a walk along the Tammany Trace.

Tammany Trace is an asphalt trail that runs from Slidell to Covington, with trailheads near Slidell and in Lacombe, Mandeville, Abita Springs and Covington. It is mainly used for hiking, jogging and cycling. It was funded by federal money and opened its first part in 1994. It was included in the Rails-to-Trail’s Conservatory’s Hall of Fame in 2017.

The location where the trace crosses over La. 59 has been a dangerous intersection for cyclists and joggers. Located close to a mile north of I-12 there is a high volume of traffic there along with an S-curve that limits visibility.

The tunnel was slated to be completed in December says Chris Welty, public information officer for the state Department of Transportation and Development, but the weather will have to cooperate.

Hurricane Ida put a halt to the project when the trace was closed due to fallen debris. Workers have been working diligently to clear fallen trees and miscellaneous debris that fell on the 31-mile asphalt pathway during Ida. St. Tammany Parish government has still not announced a reopening date.

The project will take bicyclists and joggers through the tunnel under La. 59 and will also make the S-curve a little straighter for motorists. Those using the trace will now be able to move beneath La.59 at Emile Strain Road seamlessly. This marks the second tunnel on the trace. The first tunnel opened in 2002 and goes under Florida Street in Mandeville.

As far as the S-curve, it will be realigned and slightly shifted east. Motor traffic has already been routed along the new alignment on the slight curve making it safer for motorists.

As of right now, the tunnel and north approach slab is completed and the south approach slab is currently being constructed. New drainage and driveways are being installed for those that have been affected by the realignment.

Click Here For the Source of the Information.

This home sits on a cul de sac lot and features three bedrooms and three bathrooms.

Third Quarter 2021 Reaches a 13-Year High for Conventional Loan Share of New Home Sales

November 22, 2021/in Bedico Creek Blog

The National Association of Home Builders shared that 75.5% of new home sales that were recorded in the 2021 third quarter was the largest share seen since the first of the 2008 Great Recession. The data comes from the U.S. Census Bureau’s Quarterly Sales by Price and Financing.

The Quarterly Sales by Price and Financing reports are surveys of New Residential Sales that are done every March, June, September and December. These are tables that are published through the U.S. Census Bureau.

This record share saw an increase of 1.7 percentage points over 2021 2nd Quarter and has kept rising for the last three quarters. This has shown an increase of 6.9 percentage points since Q4 2021.

As for sales backed by conventional loans, the share increased quarter-over-quarter 74% from Q3 2020 to Q3 2021. The data shows a 4.9 percentage points gain over Q2 2021. FHA-backed sales came in at 11.9% in Q3 2021 which was a decline of 1.1 percentage points over Q2 2021. As for year-over-year, it was a decline of 6.6 percentage points.

VA-backed sales also came in with a decline of 1.7 percentage points from Q3 2020. The data shows a 4.9% decline which is the exact opposite of cash purchases.

Cash purchases rose 7.6% making this a rise for the past two quarters. It is now 4.4% which is the largest we have seen since Q4 2014. For Q3 2021 there was a 7.7% climb with 1,000 sales and a 4,000 increase year-over-year.

The 30-year fixed rate for both conventional and government-backed mortgages also declined quarter-over-quarter. Conventional-backed mortgages reported a 93 basis points decline while government-backed mortgages came in 72 basis points lower than seen in Q4 2019.

Click Here For the Source of Information.