Mayor LaToya Cantrell may have spoken too soon about Target opening a new store at I-10 and Read Boulevard in eastern New Orleans, but the location may make sense for the Minnesota-based retail giant.
"It's a good match between Target and that location," said New Orleans retail and real estate analyst Wade Ragas.
Rags says what stores like Target want are areas where there are people with jobs, and money to spend. And he says the WalMart at I-10 and Bullard Ave. wouldn't be competition -- it shows a big box retailer has customers in that area.
"They're used to doing this game of who's going to do better than the other," Ragas explained. "They're not afraid of there being more stores, they're in favor of that, usually."
According Ragas, large retail operations like Walmart and Target want to see a large number people with money to spend living near their stores.
"They want to see lots of jobs coming in to what they define as their market area," he said. "That's usually a circle, a couple of miles in diameter."
And more retail in the area sends the message that there is money to be made.
While Mayor Cantrell may have spoken out of turn, Ragas says that does not mean it wont' happen.
"That may just be an awkward moment that will still resolve itself favorably."
The I-10/Read Boulevard location used to have a Lowe's home improvement store. It closed around 2019.