Juban Crossing developer says project is moving

Despite Gov. Bobby Jindal’s veto earlier this summer of a bill that would have created a special taxing district to help finance infrastructure improvements at Juban Crossing in Livingston Parish, the mixed-use project is moving forward, says developer Stephen Keller. In a written statement, Keller says more than 300,000 square feet of retail space in the development have “negotiated leases pending final signatures” by national tenants, and notes he is exploring alternative sources of funding for the project, which has an estimated price tag of $350 million when fully built out. “We are analyzing alternative methods of financing being proposed to us and are in the process of selecting the best structure to complete phase one,” writes Keller, principal of Creekstone Companies. In June, the Legislature approved a TIF zone for the Juban Crossing Economic Development District, which would have deposited 1% of state sales tax generated within the district back into the district for a maximum of $45 million, but Jindal vetoed the measure. Keller concedes the funding snag has given rise to rumors and speculation about the future of Juban Crossing, but says, “While the public perception may be that the project has stalled, that is certainly not the case behind the scenes.” The project is to be built in three phases, with the first having broken ground in February 2011. —Stephanie Riegel