TLDR: Positive hostel experience, but at an average of $190/night for a private room during Jazz Fest, the extra $20-50 of a hotel room is worth it for the attached bathroom, additional amenities, and extra space.
Pros: Beautiful restored building. Basic breakfast. Staff was helpful and other guests were friendly. Great AC, comfortable beds, and mostly very clean and quiet. Note that unless you arrive before 4-6 pm, you need to contact the property in advance to get contactless check-in instructions.
Cons: Other reviews have commented on the type of neighborhood... The hostel is on a block that is indeed a bit sketchy, and it neighbors a junk yard and busy road (see pic). But you only need to walk a block to get to a scenic residential neighborhood. I did feel safe the whole time. Keep in mind that the private room is veryyy small. The door also didn't stay closed unless you locked it, which became annoying if one person stayed in the room while the other went to the bathroom. There were only 3 shared bathrooms on the hall, so there was sometimes a line, and they lacked a shelf to put a toiletry bag on. Mostly, given all the above, I found the hostel to be far too expensive for what you get, and I'd recommend finding a hotel instead.