Johann L. Palacios
P.E, SECB, LEED AP
President / CEO, PACE Group, LLC
Pace Group LLC is a structural, foundation and civil engineering firm out of New Orleans that Palacios founded in 2016.
Recent project: Homewood Suites by Hilton New Orleans French Quarter, 618, 640 and 700 Magazine St. and Iberville phase 5,6 and 7.
Most excited about…
Affordable housing needs are at an all-time high, and with former affordable housing units being converted to 100 percent market rates now after five years, they need to be replaced with new ones. As an engineering firm who routinely designs multifamily housing projects, we get to be on the front end of the projects.
Biggest anticipated challenge…
There are two challenges I foresee. The first is that with more multifamily projects becoming available, a saturation point is inevitable, and that point will become obvious once units begin to sell for closer to what it costs to design and construct. This challenge is typical of any real estate segment.
The second is how good infrastructure, or rather the lack of it, can adversely affect the city and its perception of viability over the long term. The recent revelation that the pumps weren’t operable when needed was the most discouraging. Since Aug. 12, 2015, our clients on many projects have been forced to comply with stormwater management guidelines which add on average $5 a square foot over the entire property area in Orleans Parish. I understand that the city needs to start somewhere with slowing down the rate of water that enters the drainage system; however, the system is broken since no revenue is collected from the use of the drainage system. In recent days this entire system is being reviewed with good intentions and suggestions. I hope that our infrastructure does not become an Achilles heel to development interests.
