Dive Brief: Gateway Development Consortium, the developer of the $1 billion, 10-year Cross Bayou Point mixed-use opportunity zone project in Shreveport, Louisiana, has selected an architect and contractor to lead the development’s design-build team, according to a GDC press release.
Ozanne Construction is headquartered in Cleveland and has experience with the management of large public-private construction projects. GDC officials said the pair have the experience and understanding of the local construction market necessary to guide GDC through Cross Bayou Point’s master planning, development and building.
As part of the Cross Bayou Point project, GDC has proposed a new $100 million building that would house state offices; a $200 million criminal justice complex; Cyber Bayou, a “Digital ecosystem” with a $45.2 million STEM school, a public-private incubator and space for local universities; the possible conversion of an existing courthouse into a Civil War and civil rights museum; a multiuse sports complex; and 5,000 residential units, divided into 30% affordable, 40% market rate and 30% luxury.
The Cross Bayou Point project is in one of Shreveport’s designated opportunity zones, which are economically challenged areas where investors in new development can earn tax breaks. Opportunity zones support a wide variety of projects. Since completing that project, Beit has launched an investment fund that will build $700 million worth of similar projects in other opportunity zones.