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February 13, 2012

Six Flags May Become Upscale Mall; Lakefront Airport to Add New Hangars

By Amalia Otet, Associate Editor

Proposals for the redevelopment of the Six Flags site have been narrowed down from eight to one: A plan to turn the shuttered amusement park into an upscale outlet mall is still under consideration. The project was proposed by a joint venture between Dallas-based Provident Realty Advisors and DAG Development of New Orleans, which will present its idea in a community meeting in eastern New Orleans next month, according to the Times-Picayune.

Ever since the project was launched in August 2011 by the city of New Orleans, several redevelopment ideas have been brought forward, including transformation into a power plant, a theme park or a commercial retail and family entertainment venue. The last proposal to be rejected was RCS Entertainment’s Crescent City Amusement Park project, due to the company’s lack of experience in amusement park development.

The joint venture’s plans for the redevelopment of the 150-acre site call for a $40 million investment, to include a 400,000-square-foot outlet mall and boardwalk entertainment district. Further development would include a big-box retailer, amphitheater, sports field, water park and hotel. Provident has successfully developed similar malls across the United States.

In other news, New Orleans City Business reports that Lakefront Airport was awarded a $7.3 million grant by the Federal Emergency Management Agency to develop a replacement facility for the James Wedell Hangar, which had been destroyed during Hurricane Katrina. The new outfit will be one of three new hangars the airport plans to open by the 2013 Super Bowl.

Construction of the facility, to include 23,000 square feet of hangar space and 6,000 square feet of office and shop space, is expected to begin this spring.

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