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It's happening, new arena down to one developer
Posted on 9/10/24 at 10:32 am
Posted on 9/10/24 at 10:32 am
Plans to develop a new $400 million arena on LSU’s campus are moving forward as expected.
A pool of six potential developers has been narrowed to a single finalist for the arena, which would host sporting events for LSU as well as entertainment and music events for the Capital Region. The Tiger Athletic Foundation is currently in the process of evaluating a proposal from that finalist.
A plan to reposition the River Center as a convention center and construct a complementary headquarters hotel is also moving forward. Baton Rouge is one of the largest cities in the country to lack a full-fledged convention center.
As with the LSU arena project, the River Center’s repositioning is still in a preliminary planning phase.
The Memorial Park complex is also set to undergo a major face-lift. The 44-acre site is currently home to Goldsby Baseball Field and Memorial Stadium, both of which will be subject to significant renovations. A new 110,000-square-foot, state-of-the-art sports and recreation facility also seems to be in the cards.
A pool of six potential developers has been narrowed to a single finalist for the arena, which would host sporting events for LSU as well as entertainment and music events for the Capital Region. The Tiger Athletic Foundation is currently in the process of evaluating a proposal from that finalist.
A plan to reposition the River Center as a convention center and construct a complementary headquarters hotel is also moving forward. Baton Rouge is one of the largest cities in the country to lack a full-fledged convention center.
As with the LSU arena project, the River Center’s repositioning is still in a preliminary planning phase.
The Memorial Park complex is also set to undergo a major face-lift. The 44-acre site is currently home to Goldsby Baseball Field and Memorial Stadium, both of which will be subject to significant renovations. A new 110,000-square-foot, state-of-the-art sports and recreation facility also seems to be in the cards.
This post was edited on 9/10/24 at 10:33 am
15
Posted on 9/10/24 at 10:39 am to nicholastiger
What does this mean for the Zydeco?
Posted on 9/10/24 at 10:42 am to Draconian Sanctions
Zydeco is not part of it, they are staying in downtown arena
Posted on 9/10/24 at 10:42 am to nicholastiger
Once again it will be done half arse regardless of who they choose.
Posted on 9/10/24 at 10:42 am to nicholastiger
quote:
on LSU’s campus
So golf course location?
Posted on 9/10/24 at 10:43 am to LSUDAN1
Easy cost of 500-650 million when all is said and done.
Posted on 9/10/24 at 10:52 am to PUB
Yeah, I would say the golf course is done
Will make far more money then having a golf course right there
If you want to keep anything golf related then maybe have a Top Golf kind of driving range for students
Will make far more money then having a golf course right there
If you want to keep anything golf related then maybe have a Top Golf kind of driving range for students
Posted on 9/10/24 at 10:53 am to nicholastiger
quote:
nicholastiger
Can you link the article this is from?
Posted on 9/10/24 at 10:54 am to RummelTiger
it was on the BR Business Report's daily update
I don't have access to the entire article, that part you have to pay for
I don't have access to the entire article, that part you have to pay for
Posted on 9/10/24 at 10:54 am to nicholastiger
Got it. Thanks.
Posted on 9/10/24 at 11:14 am to nicholastiger
Baton Rouge is a dangerously dysfunctional city. I am sure an arena will remedy that...
Posted on 9/10/24 at 11:46 am to LSUStar
Here is the rest of the article- I subscribe
A lengthy negotiation process to iron out details related to amenities, size and location would follow that meeting. TAF would then make a land use recommendation to the LSU Board of Supervisors. If the board signs off on TAF’s proposal, LSU would lease the land to TAF, which would then sublease the land to the developer. The developer would then be able to move forward with the project. TAF is still optimistic that the arena will be operational in about four years’ time.
While officials previously suggested that construction of the arena would be fully funded by the developer in exchange for ownership and revenue from events unrelated to LSU, a new sales tax in a recently established economic development district surrounding the university now seems likely to contribute to the project. Additional public funds may be requested from the Metro Council at a later date.
The repositioning of the River Center
To facilitate the development of a new LSU arena, the Raising Cane’s River Center has entered into a noncompete agreement that will restrict its ability to host most entertainment and music events once the arena is constructed. In light of those restrictions, officials have outlined a plan to reposition the River Center as a convention center and construct a complementary headquarters hotel. Baton Rouge is one of the largest cities in the country to lack a full-fledged convention center, Landry says.
As with the LSU arena project, the River Center’s repositioning is still in a preliminary planning phase, though Mayor Sharon Weston Broome in June suggested an ambitious nine-month timeline for soliciting proposals from developers and signing contracts. Also in June, the Metro Council unanimously approved a measure to assemble an oversight committee for the project. That committee met for the first time in August. It is worth noting that some downtown business owners have expressed concern over whether the River Center’s repositioning would hurt their bottom lines.
The Memorial Park redevelopment
The Memorial Park complex is set to undergo a major face-lift. The 44-acre site is currently home to Goldsby Baseball Field and Memorial Stadium, both of which will be subject to significant renovations. A new 110,000-square-foot, state-of-the-art sports and recreation facility also seems to be in the cards. Other proposed additions include ancillary entertainment venues, commercial and retail developments and walking trails. The complex’s reimagining could also serve to attract minor league baseball and soccer squads to Baton Rouge.
Roy Alston, executive director of Texas-based Five Points Community Capital, has been tapped as the project’s master developer. Subdevelopers will eventually be contracted to work on the individual components of the project.
Landry, who serves as lead counsel for the redevelopment, says details related to project funding and timeline are still up in the air and a long way from being set in stone. Partners on the project include BREC and Project Play, a national public policy initiative aimed at growing youth participation in sports.
A lengthy negotiation process to iron out details related to amenities, size and location would follow that meeting. TAF would then make a land use recommendation to the LSU Board of Supervisors. If the board signs off on TAF’s proposal, LSU would lease the land to TAF, which would then sublease the land to the developer. The developer would then be able to move forward with the project. TAF is still optimistic that the arena will be operational in about four years’ time.
While officials previously suggested that construction of the arena would be fully funded by the developer in exchange for ownership and revenue from events unrelated to LSU, a new sales tax in a recently established economic development district surrounding the university now seems likely to contribute to the project. Additional public funds may be requested from the Metro Council at a later date.
The repositioning of the River Center
To facilitate the development of a new LSU arena, the Raising Cane’s River Center has entered into a noncompete agreement that will restrict its ability to host most entertainment and music events once the arena is constructed. In light of those restrictions, officials have outlined a plan to reposition the River Center as a convention center and construct a complementary headquarters hotel. Baton Rouge is one of the largest cities in the country to lack a full-fledged convention center, Landry says.
As with the LSU arena project, the River Center’s repositioning is still in a preliminary planning phase, though Mayor Sharon Weston Broome in June suggested an ambitious nine-month timeline for soliciting proposals from developers and signing contracts. Also in June, the Metro Council unanimously approved a measure to assemble an oversight committee for the project. That committee met for the first time in August. It is worth noting that some downtown business owners have expressed concern over whether the River Center’s repositioning would hurt their bottom lines.
The Memorial Park redevelopment
The Memorial Park complex is set to undergo a major face-lift. The 44-acre site is currently home to Goldsby Baseball Field and Memorial Stadium, both of which will be subject to significant renovations. A new 110,000-square-foot, state-of-the-art sports and recreation facility also seems to be in the cards. Other proposed additions include ancillary entertainment venues, commercial and retail developments and walking trails. The complex’s reimagining could also serve to attract minor league baseball and soccer squads to Baton Rouge.
Roy Alston, executive director of Texas-based Five Points Community Capital, has been tapped as the project’s master developer. Subdevelopers will eventually be contracted to work on the individual components of the project.
Landry, who serves as lead counsel for the redevelopment, says details related to project funding and timeline are still up in the air and a long way from being set in stone. Partners on the project include BREC and Project Play, a national public policy initiative aimed at growing youth participation in sports.
Posted on 9/10/24 at 11:48 am to Draconian Sanctions
quote:
What does this mean for the Zydeco?
That rag-tag team and the league it is in will probably cease to exist before the new arena is complete.
Posted on 9/10/24 at 11:49 am to nicholastiger
Where would the new arena be located on campus?
Posted on 9/10/24 at 11:49 am to nicholastiger
What about the St George convention center?
Posted on 9/10/24 at 11:50 am to nicholastiger
Will it be ready in time?
Posted on 9/10/24 at 11:54 am to DmitriKaramazov
quote:
Where would the new arena be located on campus?
Say bye bye to the LSU Golf Course.
Unless they are able to buy the large patch of land between that and the levee.
Posted on 9/10/24 at 11:59 am to LSUGrad9295
Why is this project not going to St george?
Posted on 9/10/24 at 11:59 am to Rouge
quote:
Why is this project not going to St george?
because they want an on campus arena, not out in the suburbs
Posted on 9/10/24 at 12:03 pm to secfballfan
quote:
Here is the rest of the article- I subscribe
Eesh
quote:
(Charles) Landry, who serves as lead counsel for the redevelopment
And this why BR will always suck. Cronyism at its finest! BR wrote an article 2 weeks ag sucking his balls!
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