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internship 2006
STUDIO DANIEL LIBESKIND
$175M SENIORS CONDO COMPLEX
IN JEFFERSON PARISH GAINS NOD
By CityBusiness staff report
2006-11-02 2:26 PM CST
BATON ROUGE — The Louisiana Public Facilities Authority’s Board of Trustees has approved a range of projects totaling $278 million, including a $175-million bond sale to finance construction of a high-rise condominium complex for seniors in Jefferson Parish near New Orleans.
The 500,000-square-foot condominium complex is being designed by architect Daniel Libeskind, who also was designing the new World Trade Center until the deal stalled.
The condo complex will include two buildings, 325 units, dining facilities, water features and ample parking. Approximately 280 units will be designated “independent living” while the remaining units will be “assisted living.” The facility also will include a wing with 25 units for Alzheimer’s patients. Plans include a second tower of condominiums for residents of all ages.
The complex will be situated in the 2600 block of Jefferson Highway near North Causeway Boulevard in Metairie. The project is being developed by St. Raymond Holdings – Old Jefferson LP.
The bonds would be sold under the federal Gulf Opportunity Zone Act of 2005, which provides federal tax incentives for construction projects that begin after hurricanes Katrina, Rita and Wilma.
The project will create more than 600 construction jobs and 124 new permanent jobs with an annual payroll of more than $3.4 million. A total of 224 existing jobs with a payroll of $7.1 million will be retained or transferred because of the project.
“This is phenomenal because of the positive impact that a facility such as this could have in that area,” said Thomas Antoon, chairman of the LPFA Board of Trustees. “Our organization is pleased to have a hand in creating something that could benefit the economy in Jefferson Parish as that part of the state continues to rebuild after last year’s hurricanes.” ...
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