The Gateway Development Consortium is working on a project called Cross Bayou Point. It’s a $1 billion, 10-year development of Cross-Bayou and Ledbetter Heights.
Paul Pratt formed Gateway Development Consortium (GDC), whose membership team has decades of experience working with Public/Private Partnerships.
Theron Jackson, former City Council member; General Contractor, Rickey Hall and Attorney Curtis Joseph along with Mr. Pratt serve on GDC’s local team.
Its national members are Daron West and Larry English of the infrastructure development firm, AirRail, both of whom have deep roots in Shreveport.
Janus Property, which is developing a million square feet of commercial space in Manhattan, is a partner on the development team.
Based on GDC’s research, thriving urban cities begin with one single economic principle: creating density which they say creates growth.
Economists call this phenomenon agglomeration. Not only does geographical proximity reduce cost, but it also facilitates the exchange of knowledge and spurs innovation.
As a result, GDC concluded the following concept had the best chance for success:
1. A Municipal Complex with 1000 to 2000 permanent employees
2. A Technology-based Charter School with 350 employees
3. A Sports Complex whose Anchor tenant would be the Pelicans G-League
Team, but would also be attractive to local, regional and national
sporting events such AAU
4. A 5000-unit mixed-use housing with residential and single family homes
But if the project is to be successful, GDC must form a Public/Private Partnership with local and state government.
GDC has met with state leaders and Mayor Ollie Tyler and has received tentative support for the concept. According to Pratt: “Mayor Ollie Tyler, while enthusiastic about the concept, has made clear that the city will require complete transparency, if it is to be involved.
GDC’s next step is negotiating a non-binding Letter Of Intent with the City of Shreveport followed by formal negotiations to create a public/private partnership to move the project forward as soon as