Sunday, April 26, 2009
The Esplanade Mall 2007 Kenner Louisiana
This 2 story mall located in Kenner Louisiana opened in 1984 with DH Holmes, Godcheaux, and Mervyns as anchors. An addition brought Macy’s to the mall 6 months after opening up. This mall is the largest in the New Orleans area and boasted 180 stores pre-Katrina. Godcheaux closed in 1985 with the chain and the DH Holmes became Dillard’s when the chain was taken over. Dillard’s opened up a Men’s store in the former Godcheaux location in the 1990’s. This mall had always been at near 100% occupancy and was not affected much by the recession that hit the New Orleans area in 1986. In 2005 after Katrina hit Mervyn’s started its preplanned closing out sale and closed in early 2006. With the population loss that the New Orleans area has sustained since the hurricane there will not as many people spending money. Insurance and government money has been driving the economy in New Orleans since the hurricane. The prospects of attracting any new anchors to the New Orleans market is grim with several companies taking a wait and see approach until they reopen. Target has been the only company to express interest in the Mervyn's site. The mall has nearly all of its storefronts on the inside filled and doing extremely well. Macy's just reopened and completely remodeled their store. Macy's was considering exiting the New Orleans market, but fixed this store up and opened a new store at Lakeside to replace the closed New Orleans Center location. Currently New Orleans is one of the only growth cities in the United States with the entire metro area benefitting from the continued job growth. Most of the job growth though is from businesses that were closed after Katrina that are reopening or new stores built where other stores were torn down.