Rendering of a new phase of Elmwood Shopping Center via Lauricella Land Co.
Lauricella Land Co., the owner of Elmwood Center and developer of much of Elmwood, secured a key Jefferson Parish council vote this week in its bid to redevelop the Elmwood Shopping Center into a new mixed-use community.
Lauricella has proposed building up to 500 new apartments with new retail and dining options.
Lauricella had asked the council to create a new tax increment financing (TIF) district, and the first phase of that was to create the Elmwood Economic Development District No. 1., which the council passed this week.
The TIF will collect sales tax revenue from their district and use the proceeds for infrastructure on the site.
The project will include a new five story building consisting of 85,000 square feet of retail on the first floor with 4 floors of apartments, along with a new parking garage. The infrastructure will include walking paths, bike lanes, and more greenscaping.