Baton Rouge business owners know that location can be everything. Whether it's relocation or a new land purchase, where one's business ends up is crucial. But often, the desired location is not available or even worse, not yet zoned for business. Commercial real estate can certainly have its ups and downs.
In an effort to drum up interest for developers, the city of Kenner is planning on rezoning nearly 40 acres of land that sit near its airport. The city of New Orleans owns the airport and was given grants to purchase the homes that once sat on the land. Since the purchase decades ago, the land has been mostly left vacant. Currently the land is zoned as residential, but due to FAA regulations, no homes can be rebuilt in the area. Their plan is to rezone in hopes of getting the property sold.
Interestingly, there is not plan yet for how it will be rezoned. Officials are looking to see what developers might come up with in their own plans. But officials have said they want to reduce red tape so that if a developer came up with a promising plan, the city could fast track it.
When something like a new development might affect one's business, it can be a great relief to have a professional review over proposals or contracts. Many unknown factors can cause problems to arise during contract negotiation or real estate transactions. Sales and purchases can go awry or a construction issue can come up. An attorney specializing in real estate and business can help safeguard ones' company and investment.
Source: nola.com, "Kenner to rezone airport buyout properties, at suggestion of UNO study," Adrianne Quinlan, Aug. 1, 2013