SFNO/Jazzland Discussion Thread

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Re: SFNO/Southern Star Saga Discussion Thread

Postby Giovanni Bianchi » Wed Nov 30, 2011 5:23 am

The first phase of development would produce 2,000 jobs


Then, after the locals flock to see it ONCE, they will start laying off employees. At least then the newly fired employees can get unemployment benefits instead of selling crack.

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Re: SFNO/Southern Star Saga Discussion Thread

Postby O-Town77 » Wed Nov 30, 2011 11:30 am

I think the biggest problem with most of these proposals is the scale of them.

New Orleans just can't support a retail complex or theme park of this size to make it profitable.
If they were looking at smaller, lower cost proposals I'd be far more confident they'd be able to break even.
But these 200 to 350 million dollar projects just seem like building a bridge to nowhere.
New Orleans couldn't support a park the size of Jazzland when it had twice the population it has now.
What do they think has changed?

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Re: SFNO/Southern Star Saga Discussion Thread

Postby gisco » Fri Dec 02, 2011 11:41 am

It doesn't matter which proposal they pick. It is all going to come down to money. When the time comes, nether of the proposals is going to be able to raise the money needed. The scale of these projects is way to big. Why do they need to do something with the site anyway?

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Re: SFNO/Southern Star Saga Discussion Thread

Postby cfc » Fri Dec 02, 2011 11:46 am

gisco wrote:Why do they need to do something with the site anyway?


Because a bunch of enthusiasts on the Internet said so!
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Re: SFNO/Southern Star Saga Discussion Thread

Postby gisco » Sat Dec 03, 2011 6:43 pm

cfc wrote:
gisco wrote:Why do they need to do something with the site anyway?


Because a bunch of enthusiasts on the Internet said so!


What was I thinking! :roll:

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Re: SFNO/Southern Star Saga Discussion Thread

Postby jedimaster1227 » Mon Feb 06, 2012 7:18 pm

http://www.nola.com/business/index.ssf/2012/02/six_flags_redevelopment_commit.html

A plan to turn the former Six Flags theme park in eastern New Orleans into an upscale outlet mall is the only project still under consideration after a city selection committee created to review redevelopment proposals Monday rejected a plan to reopen the site as a theme park. The joint venture of Provident Realty Advisors and DAG Development, which has proposed building Jazzland Outlet Mall at the abandoned site, will continue on in the selection process and present its plan in a community meeting in eastern New Orleans next month.

Meanwhile, Crescent City Amusement Park, the idea presented by RCS Entertainment, has been dropped.

The two had been finalists in the quest to redevelop the abandoned 150-acre tract after beating out six other competitors late last year.

Last month, the five-member selection committee heard presentations from both parties and gave each a month to respond to follow-up questions.

The city of New Orleans has controlled the shuttered property since December 2009, when a Delaware court presiding over the bankruptcy of Six Flags Inc. agreed to allow the theme park operator to terminate its lease in exchange for cash payments to the city. Six Flags did not reopen the storm-marred park after Hurricane Katrina.

In the end, the committee was not convinced that RCS Entertainment could pull off its goal of building a theme park along the lines of Busch Gardens or Cedar Fair at the site because the team had never built a theme park.

"I've got real concerns about putting something out to the public where there might not be the wherewithal to pull off something of this scale," said Aimee Quirk, Mayor Mitch Landrieu's economic development adviser and a member of selection committee.

Committee members were more confident in Provident's ability to close the outlet mall deal. Provident and DAG have proposed a 400,000-square-foot, $40 million outlet mall and boardwalk entertainment district to include some adapted use of the theme park elements already in place at the site. Future phases of that plan propose a big-box retailer, amphitheater, sports field, water park and hotel.

Provident has built similar retail malls across the country.

"I feel like I have seen enough from them to know that we are offering something the public will respond to," said Deputy Mayor and Chief of Staff Judy Reese Morse, who also is a committee member.

But, the outlet mall is far from a done deal. If the city ultimately decides to move forward with Provident and DAG, it would basically be agreeing to allow the company to conduct due diligence for a period of six months to one year. Although the joint venture would pick up the tab for any preconstruction work done in that period, the city would forgo the opportunity to allow anyone else to develop the site during that time, at the conclusion of which Provident and DAG could walk away if they determine an outlet mall would not work on the site.

Deputy Mayor and committee member Cedric Grant also restated his long-standing concern that the outlet mall proposal will require a significant contribution from the city that may include a tax increment financing, or TIF, agreement and other incentives. Grant said he needed greater assurance that the developer would have "skin in the game" and asked the committee to push them for a specific dollar amount for their planned investment.

"We still need to see their money. In this instance, I would feel much better about it if they tell us the cost they are ready to put up," Grant said. "There's no question these are people experienced with doing development. But they are probably accustomed to using other people's money."
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Re: SFNO/Southern Star Saga Discussion Thread

Postby jedimaster1227 » Sun Mar 11, 2012 4:38 pm

http://www.wdsu.com/news/30623633/detail.html

New Orleans officials gave the green light Tuesday to a developer who wants to put an upscale outlet mall in the old Six Flags amusement park site. Jazzland Mall is expected to have 400,000 square feet of stores, restaurants, amusement park rides and amphitheater and athletic fields. The developer said the first phase of the $60 million plan would generate 2,000 jobs.

The site has been empty since Hurricane Katrina destroyed the park.

Securing financing for the mall is the next step of the process.

"This concept doesn't exist anywhere from Destin to Houston, so it's a totally unique product that will create new sales, new revenue, new jobs. We believe it's a win-win solution," developer David Garcia said.

The final selection committee vote was 5-0 for the developer to move forward. One of the developers, Provident Realty Advisors, has experience with similar projects.

The deal could still take several months before it is finalized.
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Re: SFNO/Southern Star Saga Discussion Thread

Postby Mechanic » Sun Mar 11, 2012 5:07 pm

It's been quite a while since I've read this thread. Has any determination been made as to the disposition of the rides that are still on site?
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Re: SFNO/Southern Star Saga Discussion Thread

Postby Giovanni Bianchi » Mon Mar 12, 2012 5:56 am

They are in a disposition to keep deteriorating.

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Re: SFNO/Southern Star Saga Discussion Thread

Postby gisco » Wed Mar 14, 2012 1:53 pm

Here we go again. Even though the current proposal doesn't include a theme park, they are still going to have the same problem raising money! Hopefully they can make a go of it and there are enough people left in the area to support this kind of commercial development.

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