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

DOWNTOWN SHREVEPORT UPDATEActivity in the Downtown Development District

Downtown Development District

DOWNTOWN SHREVEPORT UPDATE

Our DDD is home to both a HISTORIC District and a CULTURAL District

HISTORIC TAX CREDITSMost 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.

ACTIVITY UNDERWAYDowntown Shreveport

DOWNTOWN HAPPENINGS- OGILVIE HARDWARE

Construction due to begin in September on 80 open concept loft apartments.

DOWNTOWN ACTIVITY- THE NOVENA CONDOS, 627 CROCKETT ST.

Construction underway, models should be ready to show in September.

LOUISIANA SCHOOL OF LAW (JOE D. WAGGONNER BUILDING)-500 FANNIN

Initial construction will focus on abatement, roof and elevator repairs. Group hopes to begin work soon.

SEARS & TWO ADJOINING BUILDINGS- 600 BLOCK OF TEXAS ST.

Environmental assessments are underway, Financing should be in place in 60 days

ARTSPACE- 708/710 TEXAS STREETAdvertise for bids in September, Construction in December, Completion in July 2012

CENTRAL ARTSTATION

Bids due August 11, Groundbreaking Aug. 25, Completion June 2012

RED RIVER DISTRICT

Property donated to city, property manager hired, RFPs for businesses to go out soon.

LAKE STREET DANCE HALL 423 Lake Street

Grand Opening scheduled Friday, Saturday and Sunday, August 19, 20, 21.

MARKET STREET BAR & GRILL (OLD DEE’S PHOTOS)421 Market Street

Plans are for an October opening

DOWNTOWN ACTIVITY

• B’nai 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

DOWNTOWN CHALLENGES

• B-4 Zoning needs have changed!

• Find ways to incentivize businesses we want.

• Demolition & Neglect of Historic Buildings threatens downtown.

• Historic Preservation Ordinance