The long-delayed Juban Crossing development—which originally hoped to be nearing completion on the first phase of the project by now, having broken ground in February 2011—is still progressing, a spokeswoman for developer Creekstone Companies says.
Rebecca Rainer also says the project, which is now aiming for completion of the first phase next year, did not suffer a major setback in June when Gov. Bobby Jindal vetoed Senate Bill 673 in June for creation of the Juban Crossing Economic Development District.
State Sen. Dale Erdey, R-Livingston, agrees. However, Erdey notes the development district would have been allowed to keep 1% of state sales tax revenues generated there for “horizontal infrastructure”—roads, underground utilities, drainage, sewerage—for a maximum $45 million.
“It was a good deal for the state, a good deal for the region and good deal for the locals,” Erdey says. “Unfortunately, the governor didn’t think so.”
The bill had passed the House 94-0 for funding public improvements related to the planned development north of Interstate 12 at Juban Road in Denham Springs. However, it hit Jindal’s desk shortly after Erdey voted against the governor’s education reform with vouchers in public schools—leading some, including Erdey, to suggest that Jindal vetoed the measure in retaliation.
Erdey says development plans could change some for the 470-acre site, which is slated to include stores, hotels, 500 homes, two apartment sites, restaurants and a theatre.
“It just may not be as grand as we had anticipated,” Erdey says.
When Creekstone Companies broke ground on Juban Crossing nearly two years ago, it announced Kohl’s department store would join the development as the first committed retailer. No other retailer has been confirmed since, but Rainer says Creekstone is negotiating with “more than a dozen” retailers, including Kohl’s, to join the development. She says hang-ups have occurred, however, primarily regarding who will open in the first or second phases.
“We are so close,” Rainer says.
Also, Rainer says Creekstone has worked with the governor’s office to secure other infrastructure improvements at Juban Crossing. In fact, the governor’s office has secured $5 million from the state construction budget for providing access to the development via Juban Road and La. 16, locally known at Pete’s Highway.
A member of Jindal’s office, who requested to remain anonymous, says that money is part of the $350 million in subsidies that development projects can apply for each year. But with more than $1 billion requested by developments this year, approval of any project is hard to predict. Thus it’s unknown how much more in subsidies—if any—Juban Crossing could get in the future.
In a written statement issued to Daily Report in August, Creekstone Companies principal Stephen Keller said more than 300,000 square feet of retail space in the development have “negotiated leases pending final signatures” by national tenants, adding that he is exploring alternative sources of funding for the project—which has an estimated price tag of $350 million when fully built out.
