2013 Lake Charles Developments (Lafayette, Prien, Gray: sale, apartments, how much)

[gsmj]

There are multiple threads on this subject, each covering projects individually. After spending a weekend in my old hometown, I thought I would post a more concise thread that could be updated as news comes forth.

Downtown/Lake Front/Shell Beach Drive:

1. Mardigras boardwalk: http://www.lakecharlesmardigrasboardwalk.com

The land has finally sold and the developer has been given the green light to start. Two years is the projected completion time.

City of Lake Charles, Louisiana / Website Tools - City Council Votes Unanimously to Approve the Sale of the Pinnacle Property


2. Ryan street and Downtown infrastructure improvements: http://www.cityoflakecharles.com/ego...175_274353.pdf

Ryan streets looks to be completed. Unsure on how much more of the project will move forward. I'm specifically curious whether any improvements to the Civic Center property will happen. I did see that the south parking lot, between Millennium Park and Rosa Hart was fenced off and under construction.


3. Millennium Park renovation: City of Lake Charles, Louisiana /

Looks like phase 2 is under way, to add infrastructure around the park.


4. Sears development: Deal accepted on the old Sears retail site in downtown Lake Char - KPLC 7 News, Lake Charles, Louisiana

The lot sold, and they have two developers lined up, so if one falls through, the other should be ready. Looks to be mixed use residential apartments with retail commercial.


5. Hurricane Museum: Home | NHMSC

I had a little trouble finding exactly how much is funded at this time, but they projected a total cost of $65 million and look to have somewhere around $20 million donated so far.


6. North Enterprise Boulevard expansion along the Calcasieu River: http://www.cityoflakecharles.com/ego...750_933593.pdf

This should spur some industrial growth along the river and possibly even re-vitalize one of the city's most depressed areas with new commercial and residential growth over the coming years.


Southside/Prien Lake/ Barbe District:

1. Ameristar Casino: Ameristar Casino Resort Spa Lake Charles - Official Website | Ameristar Casinos, Inc.

I stayed at L' Auberge this weekend and I found out that they have been renovating one floor at a time for the last year, in preparation for their new neighbor to the south.

Webcam: OxBlue Construction Camera: Ameristar Lake Charles


2. Walnut Grove development: Walnut Grove

Under construction, no tenants moved in yet that I could tell.


3. Oak Crossing development: Oak Crossing - A Business Park Development

Under construction, no tenants moved in yet that I could tell.


4. Graywood Plantation: Graywood - Louisiana Golf Course, Gray Plantation

Still expanding and building out onto the property.


Industry:

Industrial expansions in the area that are gonna spur growth: Acadiana's City of the Year: Lake Charles - Acadiana Profile - February - March 2013 - Lafayette, LA

"SASOL Ltd.: Its gas-to-liquid facility, a $10.5 billion investment, will add 850 new jobs and 4,000 indirect jobs, with an average salary of $89,000. More than 5,500 construction jobs will take part in building the facility. SASOL’s Ethylene Cracker/Derivatives Complex will be a $4.5 billion capital investment and add 400 to 500 new jobs. The company’s Ethylene Tetramerization Unit will add another 36 jobs to its existing 350 and require a capital investment of $175 million.

Cheniere Energy in Cameron Parish will add 148 new jobs to its existing 77 and make an $11 billion capital investment.

Sempra/Cameron LNG will add 130 new jobs to its 60 existing and 610 indirect jobs with average salaries of $80,000 per year. Its capital investment is $6 billion.

Leucadia National Corp. LC Cogeneration will add 200 new jobs to the area and make a $2.6 billion investment.

Energy Transfer Equity/Trunkline LNG will add 100 new jobs for its $5.7 billion investment."


Between the boardwalk development, the new casino, the petro-chemical expansions, and the two new mixed use developments already under construction, that's thousands of new jobs for Lake Charles. If that doesn't spur more commercial/retail growth for the lake area - then I don't know what could.

Any projects I missed?

[pandorafan5687]

So the Mardi Gras Boardwalk should finally be taking place? It's about time! Can't wait to see that part of the boardwalk open again.

Here's another project that's under construction in Lake Charles.

Morganfield

http://www.morganfielddevelopment.com/

morganfield | Dana Brown & Associates, Inc.'

Illustration of North Lake Charles Riverfront plans

http://www.cityoflakecharles.com/ego...984_407928.pdf

[gsmj]

Thanks for adding to the thread. Morganfield looks nice.

The riverfront project looks ambitious. I know they are still working on the Enterprise expansion. I have to assume the riverfront development would kick off until the infrastructure project is complete?

[pandorafan5687]

It's pretty safe to assume that. I'm also wondering how it's going to go and how much homes will have to be replaced for this all to go down.

[gsmj]

Realistically.. for it to be a success, it's going to have to be built out all at once. No one with money is going to "pioneer" moving up into Goosport without the infrastructure and all retail/commercial components in place first.

If they attempt to build these in phases, the money will never come.

[pandorafan5687]

That's true, now the question is this: How are they going to draw the retailers and commercial property owners to that area?

[annie_himself]

Originally Posted by pandorafan5687

That's true, now the question is this: How are they going to draw the retailers and commercial property owners to that area?

With what I've seen with TNDs, you have to sell houses, then the retailers come in. I'm sure they have some of them dedicated already.

[gsmj]

Originally Posted by pandorafan5687

That's true, now the question is this: How are they going to draw the retailers and commercial property owners to that area?

The most predictable order of success will be the infrastructure, then retail, then commercial, then finally residential.

I don't think it would be a hard draw to pull in national and regional franchises to fill out the retail space with tax incentives and a guarantee that the commercial and residential will be built with in certain time frame.

The commercial will come when there is a retail (mostly dining and service based, but shopping as well) base to supplement their work force.

Residential will be the easiest sell from there, as once there is infrastructure, retail, and commercial, the area will be ripe for living.

[CTtcg]

Excellent thread!

What I read was that with Sasol's projected expansion, about 7,000 indirect jobs will be created as a result. Add that to the new casino, and other industrial expansions, and Lake Charles will be poised for growth! Many of these job-holders will have families so my estimate in the next few years is that the Lake Charles Metropolitan area will grow by about 20,000 people.

Of course there will be growing pains (can anyone imagine even more traffic on Nelson Road? yikes!)

[pandorafan5687]

Nelson Road needs one of those continuous flow intersections where it intersects w/ Prien Lake Road b/c the current intersection is horrible!