SHREVEPORT, LA – A long-vacant piece of downtown Shreveport’s skyline is set to undergo a major transformation. Thanks to the leadership of Mayor Tom Arceneaux and the Shreveport City Council, the iconic Petroleum Tower—once hailed as “Shreveport’s Best Address” by mid-century developer N.O. Thomas—will soon reclaim its status as a premier downtown destination.
“The redevelopment of the Petroleum Tower marks a major milestone in our efforts to reimagine and reinvigorate our downtown core,” said Mayor Tom Arceneaux. “This project transforms an underutilized asset into a vibrant residential community and supports our vision for a dynamic, thriving Shreveport.”
A Landmark Reimagined
The $30 million redevelopment, led by Louisiana Historic Development, LLC, will convert the long-vacant building into 117 modern, market-rate residential units, with retail space on the ground floor to enhance downtown activity. This investment underscores the city’s commitment to economic growth and urban renewal.
On March 11, the Shreveport City Council unanimously approved the project, demonstrating broad civic support for this significant investment in the city’s future.
Councilman Gary Brooks emphasized the impact of this development, stating, “As a candidate, I committed to aggressively pursuing opportunities to rejuvenate our downtown. What’s good for downtown is good for Shreveport as a whole. And there’s nothing better for Shreveport than putting buildings that have been empty for decades back into commerce. The Petroleum Tower Lofts project does that in all aces!”
Council Chairwoman Tabatha Taylor echoed the sentiment, adding, “This is the type of progressive leadership we need. Downtown is the core and foundation of our city, and I am excited to see the DDA working closely with the administration, city council, and developers to revitalize it.”
Driving Downtown Revitalization
The Shreveport Downtown Development Authority (DDA), a key advocate for downtown investment, has long championed efforts to repurpose underutilized spaces. The organization’s mission includes attracting business growth, increasing downtown livability, and preserving historic character while fostering modern innovation.
“The Petroleum Tower project is not just about new construction—it’s about breathing new life into a piece of Shreveport’s history,” said Cedric B. Glover, Executive Director of the DDA. “By restoring this long-vacant building and transforming it into a much-needed residential and retail space, we’re making a clear commitment to the future of our downtown. This project will create lasting opportunities and help shape the continued evolution of our community.”
In addition to expanding housing options, the project enhances walkability and downtown appeal, reinforcing Shreveport as a destination for both residents and investors.
Next Steps
Construction is scheduled to begin within the next three months, ensuring that momentum remains strong for downtown’s resurgence.
“This is more than a construction project—it’s a step toward building a stronger, more connected Shreveport,” said Economic Development Director Bill Sabo. “This is a significant investment in downtown and what we hope will be just the beginning as developers recognize its potential.”
The City of Shreveport and the Shreveport Downtown Development Authority remain dedicated to fostering a vibrant, economically sustainable downtown. The Petroleum Tower redevelopment represents a major step forward in positioning Shreveport as a premier place to live, work, and invest.