Plans set for 1,100 Metairie apartments

In a promised boost to Jefferson Parish’s depleted stock of rental housing, a local apartment company will spend nearly $13 million to restore more than 1,100 family-size apartments in 16 complexes in Metairie.In the process, Apartments by Tonti stands to claim almost $700,000 in state and local tax breaks.

The company is capitalizing on a seldom-used emergency rule enacted by the Louisiana Economic Development Department to address damage from Hurricanes Katrina and Rita. The rule extends Enterprise Zone incentives once reserved for new businesses to the owners of mid-size apartment complexes.

For more, see the full article in the Times-Picayune.

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