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SFNO/Jazzland Discussion Thread

P. 50: New Orleans seeking redevelopment proposals for SFNO site

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^ Yeah, my thoughts on New Orleans kind of echo what Kyle said and that has nothing to do with Katrina. While I had fun on several visits I've made there, I've really only gone back when other people have wanted to go. And most of the time it wasn't during any festival or anything to do with the French Quarter either. It's just not my kind of place, and that's ok. No need to bring the horrors of Katrina into this because that's not what Kyle was talking about in the first place.

 

 

Just out of curiosity, had it not been for the flooding destroying the park, do you think SF would have sold/closed the park by now?

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  • 2 months later...

I don't necessarily feel bad for them. First off, they were trespassing. Second, why would two teenage girls go into a place like that with no protection? They are lucky that they didn't get hurt and weren't prosecuted for the crime. I guess that the police thought that they've been through enough.

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  • 2 months later...

Looks like this project might have a leg afterall, of course a very short leg. Following a development board meeting this week it looks like the final step before a decision on the property to sell to either developer wishing to reopen the park and add retails and whatnot is to have an appraisal to ensure the price offered is reasonable. Of course the third option is to bulldoze everything and let the land rot but that does nobody any good. This could possibly be more a reality than a dreamvision. See what I did there?

 

www.nola.com/business/index.ssf/2016/04/six_flags_new_orleans_east_3.html

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It's probably worth noting that the guy behind this proposal has been turned away before for not being able to pull the money together. I would put this in the "believe it when it happens" category.

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It's probably worth noting that the guy behind this proposal has been turned away before for not being able to pull the money together. I would put this in the "believe it when it happens" category.

 

And they actually recognized that in a facebook posting this week

 

Proceed with caution? That's our take on yesterday's meeting. We've only read a couple of the news reports. Sometimes you wonder if they were at the same meeting. One was blatantly wrong and we're asking for a retraction (we NEVER asked for financial assistance from the city!).

While we have financial commitments for the park, they were never "strong enough" for the city. We really are in the financial position to start work next week if allowed, but we have to do in depth engineering analysis on the structures and complete construction drawings before construction loans can be finalized. That's the real world.

So we changed tactics. We are partnering with a local commercial development company for the retail portion of the project, the "Backlot Shoppes". The city wants to sell, we want to buy, and the retail is ready to go. We offered to purchase the property. Our offer was received well, but they have no idea what the property is worth. They voted to get an appraisal done so that they could compare it to our offer to make sure it is reasonable before agreeing to it.

There was some talk about getting a management company, but they decided not to do that until they get the appraisal because they hoped to sell (to us).

A little more waiting, but everything looks like it is going in the correct direction. As we said, they want to sell, we want to buy, and we have the only viable plan to put the site back into commerce.

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  • 1 month later...

Latest update:

 

The appraisal company has been selected, and the process moves forward! We have comps that we've submitted that indicates that our offer is within the "reasonable" range. As soon as the appraisal comes in (around 6 weeks is what we were told), we can start haggling.

 

Mayor's office said that they've reached out to some national developers and were essentially told that a theme park with other things, like a hotel and retail, would be best. Hmm, sort of like exactly what we are proposing: theme park, water park, resort hotel, mixed use retail/dining/entertainment. So check, check, check, on all those boxes.

 

In the meantime, lots of good things going on behind the scenes that we will announce as soon as we can. We are starting construction planning on the water park portion of the project. We had an initial plan made a few years ago, but our team has sat back at the table to start over. We want to allow a little room between the two parks for future expansion, and want to make sure that you can see the taller water park attractions from I-10/I-510. A new plan has been drawn up and we are now talking with the manufacturers to see what delivery timelines look like. We had initially planned on Baritone Beach being a later addition to the property, but are looking into what can be done to speed that one up.

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  • 1 month later...

https://www.facebook.com/JazzlandPark

 

"Appraisal is in .... drumroll please ... $3.26 million for all of it. That means our offer is roughly in the same ballpark and we’re close enough to negotiate. We will be reviewing the appraisal to compare with our offer. The IDB will be doing a title search, getting a survey done, as well as a phase 1 environmental study. Those are all necessary steps in the process. No final decision, but inching forward."

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  • 2 months later...

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