Thursday, June 20, 2024

Shreveport City Council to hear Cross Bayou project presentation Nov. 25

by BIZ Magazine

Gateway Development Consortium will make a presentation to the Shreveport City Council on Monday, Nov. 25 at 2 p.m. regarding the Cross Bayou development.

GDC will reportedly ask the city to assemble 88 acres in the Cross Bayou area and then donate that land to the $1.5 billion Cross Bayou Point development.

If the request is granted, GDC will then seek additional private/public partnerships with the Caddo Commission, Red River Waterway Commission, and state and federal government.

GDC had no comment on their presentation.

This follows news that MuniCap Inc. is a public finance consulting firm specializing in infrastructure and real estate development said the proposed Cross Bayou Point to have an economic impact of more than $208 million over 30 years.

The firm also projected permanent job creation to be more than 1,500 and indirect jobs to be north of 1,000. Direct temporary job creation 30 years after beginning construction would be be 8,604 and indirect temporary job creation is expected to be almost 3,000.

The Cross Bayou Point project would take over a portion of land facing the Red River just off downtown Shreveport and create a live/work/play space.

GDC plans to develop 5,000 homes over 10 to 15 years. That housing would be 30% affordable, 30% luxury and 40% market rate.

Plans also include a STEM school, state office building, new criminal justice complex, sports complex, and retail/entertainment locations.

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