Lake Terrace Shopping Center still shuttered
Despite numerous meetings, multiple blight hearings and much teeth gnashing in Gentilly, the Lake Terrace Shopping Center remains closed more than eight years after Hurricane Katrina.
With the 2009 award of $250,000 in taxpayer money through the city’s Economic Development Fund, neighbors looked forward to redevelopment of the vacant strip mall, which occupies a high-profile corner at Robert E. Lee Boulevard and Paris Avenue.
DMK Acquisitions and Properties purchased the property in April 2007 for $1.35 million and went on to secure the $250,000 in economic development funding from Mayor Ray Nagin’s administration.
Because of ongoing problems with the project, the city withheld the last payment, putting the total payout at $225,000.
The last payment of $62,500 was sent in May 2010, Nagin’s last month in office.
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Editor’s note: This story was updated on Oct. 1 to correct the date of the last payment.