Dauphine Gardens: A Unique Bywater Condo Community

The Crazy Closing of a Difficult Deal

Albert Walsh -- a client, close friend, and real estate developer -- remembers our crazy closing on a Bywater building this way: “The seller was difficult, and it had taken us a year to get to closing. It was Lundi Gras 2011, and we had a 5 pm deadline. Tracey and I had to battle through Mardi Gras traffic, cross the parade route, and then close the deal by the skin of our teeth!”

And that was the least of it! It was a complicated deal that required winning over two different neighborhood groups, a zoning change that had to be approved by the City Council, and a $50,000 non-refundable deposit. And if the zoning change didn’t go through, my clients wouldn’t get their deposit back. It was a calculated gamble – mostly because we knew the city desperately needed more affordable housing.

A Green Renovation Ahead of Its Time

The dilapidated Bywater apartment building had been sitting unoccupied since Hurricane Katrina, and it needed to be completely gutted. Not only were Albert and his business partner George up for the challenge, they were also ahead of the curve – embarking on an ambitious green renovation that tackled everything from stormwater management and energy efficiencies to quality of life improvements.

One of their first efforts was creating a unique gutter system that diverts storm water and greatly limits run-off from the property. They also removed as much concrete as possible, maximizing green space and planting native cypress trees and palmettos that suck up water like a sponge. In addition, they added multiple layers of thermal insulation to keep the units cool and acoustic insulation to keep them quiet, both in the floors and the walls. From new wiring and new plumbing to new layouts and upgraded finishes, they created environmentally-friendly, affordable housing that was very much in demand. Says Albert, “I think what we did has real world impact, and I think if more developers and homeowners tried to do things like that, it would make a difference.”

A Refresh that Brought Affordable Condos to the Bywater

After owning and renting the units for 10 years, Albert and George recently updated the building, turning the apartments into an affordable condo community. Located in a vibrant, eclectic neighborhood, Dauphine Gardens is a unique Bywater community offering 27 fully renovated one bedroom & one bath condominiums, with amenities such as gated privacy, assigned parking, on-site laundry, bicycle storage, extensive green space, and a location that’s steps from notable restaurants, coffee shops, bars, boutiques, and parks. 

I’m thankful that Albert has this to say about working with me:

“Tracey’s the one who found this off-market Bywater property and told me it was promising. When she showed it to me, I was like, yes, I’ve gotta do this! She was a rock star on this deal, and it would not have happened without her. Any other agent, and it would have fallen apart! She’s tenacious!

“Since 2005, I’ve probably worked over 25 real estate deals with Tracey and have probably referred over 50 listings to her. I’m an opportunistic shopper, and she has continued to bring me deals over the years that weren’t accessible to anybody else.”

“If you don’t grow up in New Orleans, you can be considered an outsider. I kind of got grandfathered-in, so to speak. There was this grace period for those who moved here after Katrina to help rebuild the city. As time moved on, I realized, I’ll never break into the community. But I never felt that way with Tracey. She’s open-minded, welcoming, and happy to work with people outside the city.”