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D OWNTOWN S HREVEPORT U PDATE Activity in the Downtown Development District.

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Presentation on theme: "D OWNTOWN S HREVEPORT U PDATE Activity in the Downtown Development District."— Presentation transcript:

1 D OWNTOWN S HREVEPORT U PDATE Activity in the Downtown Development District

2 Downtown Development District

3 D OWNTOWN S HREVEPORT U PDATE Our DDD is home to both a HISTORIC District and a CULTURAL District

4 H ISTORIC T AX C REDITS Most buildings 50 years old or older are eligible for up to $5m for rehabilitation work. State tax credits can be sold for cash. They can also be stacked with federal credits.

5 A CTIVITY U NDERWAY Downtown Shreveport

6 D OWNTOWN H APPENINGS - O GILVIE H ARDWARE Construction due to begin in September on 80 open concept loft apartments.

7 D OWNTOWN A CTIVITY - T HE N OVENA C ONDOS, 627 C ROCKETT S T. Construction underway, models should be ready to show in September.

8 L OUISIANA S CHOOL OF L AW ( JOE D. W AGGONNER B UILDING )-500 F ANNIN Initial construction will focus on abatement, roof and elevator repairs. Group hopes to begin work soon.

9 S EARS & T WO ADJOINING B UILDINGS - 600 BLOCK OF T EXAS S T. Environmental assessments are underway, Financing should be in place in 60 days

10 ARTSPACE - 708/710 T EXAS S TREET Advertise for bids in September, Construction in December, Completion in July 2012

11 C ENTRAL A RTSTATION Bids due August 11, Groundbreaking Aug. 25, Completion June 2012

12 R ED R IVER D ISTRICT Property donated to city, property manager hired, RFPs for businesses to go out soon.

13 L AKE S TREET D ANCE H ALL 423 Lake Street Grand Opening scheduled Friday, Saturday and Sunday, August 19, 20, 21.

14 M ARKET S TREET B AR & G RILL (O LD D EE S P HOTOS ) 421 Market Street Plans are for an October opening

15 D OWNTOWN A CTIVITY Bnai Zion Temple- 802 Cotton St. -redeemed by owner Arlington Hotel- (Cotton & Louisiana) city seizure proceedings Old Lewis Furniture- 864 Texas Avenue- purchased Emmett Hook Center-550 Common St.- completed and open Calanthean Temple-1000 Bl. Texas Avenue- purchased McAdoo Hotel- 1002 Texas Avenue- Other buildings downtown

16 D OWNTOWN C HALLENGES B-4 Zoning needs have changed! Find ways to incentivize businesses we want. Demolition & Neglect of Historic Buildings threatens downtown. Historic Preservation Ordinance

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