Sunday, June 23, 2024

Shreveport not moving forward with Cross Bayou Point partnership

by BIZ Magazine

The Shreveport City Council shot down an agenda item Tuesday that would have formed an official partnership between the city and Cross Bayou Point developers.

The council voted 4-3 against a binding memorandum of understanding (MOU) between the City of Shreveport and Gateway Louisiana, LLC.

GDC’s Cross Bayou Point project is a huge, mixed use building project featuring living space, state and parish government offices, a STEM school, and a multi-purpose USL soccer stadium.

The MOU would have had the city to assemble an 88-acre tract of land along the Red River just off downtown Shreveport. The land is divided up among several different land owners and is considered a brownfield site that would require remediation.

The council’s rationale for the vote ranged from wanting more detailed plans to the effort being too costly.

GDC has argued that the project is vital for economic revitalization of Shreveport.

A press release from GDC sent to media on Monday cites the Louisiana Workforce Commission’s report that Shreveport lost 3,000 jobs over the last year, while the developers say Cross Bayou Point would create almost  14,000 jobs in the coming decades.

“Every indicator tells us what we already know, our city is in severe economic decline,” said Paul Pratt, GDC partner. “The patient is in the emergency room with severe gunshot wounds and no one is even offering a bandaid or a couple of aspirin. It is time for the city to think about the young men and women of color who are are disproportionately impacted by the lack of jobs.”

GDC Partner Larry English told local media that his group will be back before the council soon.

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