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Drive Shack developers get property tax freeze to redo former Times-Picayune building

Source: Drive Shack developers get property tax freeze to redo former Times-Picayune building - Aug 17, 2018

The developers who want to turn the former Times-Picayune building on Howard Avenue in New Orleans into a three-story indoor golf attraction received final approval Tuesday (Aug. 14) on a plan that basically freezes their property taxes for a dozen years.

The Industrial Development Board, which must sign off on such tax incentives, agreed to lock in land and building values for Drive Shack. The 62,000-square-foot, $29 million facility will include 90 golf ball hitting bays, a restaurant, bar, arcade and conference rooms. To the rear of the building, 183,000 square feet of artificial turf will cover the driving range. Plans call for 265 parking spaces on the property and additional off-site parking under the Broad Street overpass.

Category: General Business