This is pretty interesting. NOLA and The Times Picayune Now first off I want to say I do not know exactly where the land is located, however I do know a few things. $1.5 Million is $68K an acre. That seems a little high for swampland is LA, especially in these tough economic times. I mean, is it commercial swamp? I am guessing they negotiated down to this price, right? Pardon me for being pessimistic but seems somebody is making a pretty penny on this land. There has to be a wetlands determination on this parcel by the Army Corps of Engineers. This should prohibit development of this "blackwater stream," and if it doesn't then the law needs to be changed and given more teeth. Isn't that one of the jobs of the Army Corps of Engineers? Saving our wetlands for hurricane protection if for nothing else. Both Slidell and Mandeville have seen flooding problems due to development and landfill. If you fill in the low areas then the water has no place to go, and if you dig them out, you better run when a hurricane comes.
68k an acre, wow. That is the best deal they can get?
Currently in the MLS in the same area as Bayou Liberty;
39 acres – 980K, (preliminary approval for 85 lot subdivision)
19.67 acres – 433K, (near the mall)
9.3 acres -373K (waterfront property off Bayou Liberty Rd)
9.26 acres – 310K (possible commercial)
The list goes on.
I absolutely support the preservation of land, but do the math, this seems egregious.
Marc
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