The company behind a new development in Gretna along the border with Terrytown should have a deal in place in about a month for the development’s third hotel and its first restaurant, a spokesman said Monday.
A 123-room Courtyard by Marriott hotel already has opened at the 11-acre site, and the groundbreaking for a Homewood Suites extended-stay hotel is scheduled for Tuesday.
But the $50 million complex has always been envisioned as a three-hotel property, and negotiations with the third national hotel chain are close to fruition, said Mike Sherman, a spokesman for developer Bui Nguyen, of BN Management.
Sherman said a deal is also nearing for a restaurant in a separate building on the site, which will have a number of small retail tenants.
The city annexed the site from Jefferson Parish in 2014 at Nguyen’s request and created a taxing district that will redirect some tax revenue from the site for infrastructure improvements. That arrangement is capped at $2 million or eight years, whichever comes first.
The hotel development isn’t the only highly anticipated revenue-generating project in Gretna.
A new Wal-Mart Neighborhood Market within the city limits is set to open Wednesday on the West Bank Expressway at the former site of a bowling alley and Pho Tau Bay restaurant, between Evergreen Drive and the Gov. Hall Street canal.
Follow Chad Calder on Twitter, @Chad_Calder.