The French Market Corporation engaged The McEnery Company to provide a market rent opinion for the Upper Pontalba, arguably one of the most historically significant buildings in the French Quarter. The Upper Pontalba was originally a collection of sixteen individual four-story row houses. Through a major interior renovation in 1935, the improvements were interconnected and the upper floors were converted into 50 individual apartments and the ground floor was divided into 14 commercial units. The property is situated on the St. Peter side of Jackson Square in the French Quarter, with frontage along St. Peter Street, Chartres Street and Decatur Street. The McEnery Company has performed several market rent studies pertinent to the surrounding French Market Corporation owned real estate, and also related to the commercial spaces in the Upper Pontalba. Most recently, we were engaged to provide an opinion of market rent for the apartments. In each case, thorough research was performed to determine market rental rates for similar units in the French Quarter. Our market rent studies have been published for public review and have been widely supported in the establishment of new and fair market rental rates for the spaces.
