Work is wrapping up this week on the first phase of a $500,000 renovation of The Settlement, an eight-building retail and office complex on Jefferson Highway near Bocage that has been under new ownership since late last year.
Donnie Jarreau acquired the 40,000-square-foot development in November and has spent the past several months installing a new roof, resurfacing the asphalt parking lot and updating the exterior paint colors of the buildings, which sported a variety of pastel hues reflective of its 1980s-era design.
A second phase of upgrades—including new signage and landscaping—will be completed later this year.
Jarreau paid $4 million for the complex of two-story, French Quarter-style buildings connected by winding walkways, and says it’s more than 95% occupied. Tenants include a mix of service retail and office users, including Palermo Ristorante, several art galleries and hair salons, as well as the local offices of Junior Achievement.
Since 2008, Jarreau has acquired the Southdowns Shopping Center, Drusilla Village Shopping Center and Perkins South Shopping Center, formerly known as Town South, and updated them through exterior renovations, new signage and lighting, and freshly paved parking lots
