Week in Review, Oct. 18-22: Superdome Struggle, Target in Mandeville, More Rental Assistance

NEW ORLEANS — Here, from staff and wire reports, are the week’s top business stories:

Louisiana’s legislative leaders balked Thursday at a $63 million debt forgiveness plan for the Superdome’s oversight board that Gov. John Bel Edwards’ administration framed as a key piece of striking a new deal with the New Orleans Saints. The Bond Commission discussion of that proposal and other ideas for steering state money to Superdome renovations brought no resolution. It remains unclear whether state lawmakers will pay for Edwards’ commitment that Louisiana will cover $90 million of the $450 million in stadium improvements. Treasurer John Schroder seemed exasperated over the question of whether the Legislature would agree to finance some of the renovations that remained unresolved after more than two years since the Democratic governor made the deal public. “It’s decision time,” said the Republican treasurer, who chairs the Bond Commission. The Superdome managers “need to be able to plan. We need to give them an answer.” …

Stirling Properties announces the addition of Target to the tenant lineup at Premier Centre, located on U.S. Highway 190 in Mandeville, Louisiana. Target will occupy roughly 58,000 square feet of retail space, backfilling the former Stein Mart store, as well as the adjacent space currently housing Rack Room Shoes, and an additional 13,000 square feet of new building expansion area in the rear of the building. Rack Room Shoes will expand and relocate next to Whole Foods Market in the former Forever 21 Red space. Rack Room Shoes is expected to re-open in its expanded space in the fall of 2021. …

- Sponsors -

North Carolina-based Liberty Senior Living has announced plans to develop a new senior living community in the historic Carrollton Courthouse at 701 S. Carrollton Avenue. The community will be developed by Liberty Senior Living and Felicity Property Co. The storied Greek revival courthouse, designed by noted 19th century architect Henry Howard and opened in 1855, is being meticulously renovated and expanded to provide 73 assisted living and 20 memory care private units for New Orleans’ growing population of seniors. “Liberty Senior Living is excited to work with Felicity Partners in developing, renovating and repurposing the Carrollton Courthouse. Having our good friends at Live Oak Bank as our lender makes this project even more rewarding,” says Liberty Senior Living President, Will Purvis. “We are proud of our organization’s 145-year history of providing high quality health care services and our growth across the Southeast. With this expansion into the New Orleans marketplace, we look forward to providing these services to a growing population of older adults. Being able to do so in such a historic building and location, with great partners, is a unique opportunity for Liberty.” …

Mayor LaToya Cantrell has signed two ordinances approved by the New Orleans City Council that will add approximately $33 million to the budget for emergency rental assistance. A total of $9.6 million was received directly from the U.S. Department of Treasury, allocated to the City of New Orleans after being recognized as a a high performer. “The City has demonstrated through the number of applications received and the attendance at community events that the need still far exceeds the available resources. The state is doing the right thing by sending the unused resources to New Orleans,” said Mayor LaToya Cantrell. “It is because of our fiscal prudence that we have these additional funds available for rental assistance that are so desperately needed by our people. The additional funding will help our residents remain housed while they get back on their feet.”

Digital Sponsors / Become a Sponsor

Follow the issues, companies and people that matter most to business in New Orleans.

Email Newsletter

Sign up for our email newsletter