Business Briefs for May 14, 2008
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Gulf Coast Bank buys Coursey lot
Donnie Jarreau Cos. sold a 30,000-square-foot tract on Coursey Boulevard last week to Gulf Coast Bank for $480,000.
Jonathan Starns of Donnie Jarreau Real Estate Inc. represented the seller, Ace Holdings LLC, one of Jarreau’s subsidiaries. Donnie Jarreau Cos. said Gulf Coast plans to build a branch on the property and that a remaining 1.7-acre tract at the site will be developed into retail space.
16 downtown units could open Sept. 1
The Kress/Welsh Levy/Knox building at Third and Main streets downtown could have apartment units ready for sale or lease by Sept. 1, one of the partners in the firm renovating the property said Tuesday.
John Schneider of Cyntreniks said he expects three condominium units of the long-empty building will be for sale, starting at $450,000. Plans call for 16 apartment units — one loft, seven one-bedroom units and eight two-bedroom units.
Plans also call for retail and office space, as well as a component honoring the building’s early role in the 1960s civil rights movement.
Feds to announce elevation money
Federal officials plan to announce today a new grant program that gives eligible Louisiana homeowners $30,000 to elevate houses threatened by potential flooding. Jim Stark with the Federal Emergency Management Agency and Paul Rainwater, executive director of the Louisiana Recovery Authority, are set to detail the plan in Metairie. FEMA says the program amounts to the largest hazard-mitigation program ever funded for Louisiana.
