SpaceX Expected to Trigger a Housing Boom Across Acadiana
LOUISIANA - Something pretty interesting is already happening in Acadiana's real estate market, and there isn't even a rocket sitting on a launchpad yet.
The planned SpaceX Starbase Louisiana project in Vermilion Parish is getting people thinking about where thousands of future workers could live, and some real estate investors are already getting geared up for it.
SpaceX Starbase Louisiana is planned for a huge stretch of coastal land around Pecan Island. Construction is expected to begin in 2027, with the first launch targeted for as early as 2029. The project is expected to bring thousands of jobs to the Acadiana area, along with thousands more indirect positions.
When thousands of new jobs show up in an area, there's always another question that follows...where are all those people going to live?
SpaceX Is Getting Attention From Real Estate Investors
According to Realtors interviewed by HousingWire, real estate investors have already started looking at land around Vermilion Parish and nearby communities in Acadiana.
Some of the interest is focused on residential development. Investors are looking at possibilities such as RV parks, short-term rentals, and other temporary housing that could serve construction workers working on the SpaceX Starbase Louisiana project.
READ MORE: Could SpaceX Turn Lafayette Into Louisiana's Largest Metro Area?
Kimberly Lafleur, a Realtor at with The Lafleur Group in Lafayette, told HousingWire that investors are purchasing land because they expect the SpaceX project to bring a significant number of workers into the area.
The interest isn't limited to the immediate Pecan Island area, either.
HousingWire reported that activity is already noticeable around places including Abbeville, Kaplan and other parts of Vermilion Parish.
Why Lafayette Could Feel The SpaceX Effect
Here's where this gets particularly interesting for people in Lafayette.
Pecan Island is a pretty remote location.
READ MORE: Six Louisiana Laws Cleared the Path for SpaceX
That means not everyone working at the SpaceX facility is necessarily going to want to live right next door to the launch site, assuming residential development is even something that can practically happen in that area.
Lafayette already has many of the things a growing workforce needs, including established neighborhoods, schools, shopping, restaurants, medical facilities and more.
Lafleur told HousingWire that the Lafayette could ultimately become an important residential hub for people working at or around the SpaceX facility.
Vermilion Parish Is Seeing The Most Interest
KPLC reported in August that real estate broker Kathy Dyson, owner of Kathy Dyson Realty, was already seeing increased interest in both homes and land in Vermilion Parish as speculation surrounding SpaceX grew.
Dyson said land was becoming "particularly attractive" in parts of southern Abbeville, Kaplan, and Gueydan.
Louisiana Economic Development says the SpaceX project is expected to create approximately 3,000 direct jobs over the next 10 years, with an average annual salary of about $92,600.
LED estimates the project could also generate more than 8,100 indirect jobs, bringing the potential total to more than 11,000 new job opportunities in Acadiana.
Think about everything that comes with thousands of additional workers and residents.
You'll potentially need more:
Homes
Apartments
Restaurants
Grocery stores
Retail businesses
Contractors
Construction workers
Insurance agents
Medical services
Child care
Schools
Roads and other infrastructure
This is why some Realtors are looking at the project as much more than a housing story.
Lafayette isn't right next door to Pecan Island, but it already has the infrastructure and amenities that make it an attractive place for people moving into the region. Abbeville, Kaplan, Maurice, Youngsville and surrounding areas in Acadiana could all potentially see changes as businesses and workers look for places to live and operate.
You can read more over at housingwire.com.
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