New Orleans leaders are eyeing a “drop-dead date” when it comes to efforts to develop the former Six Flags site in New Orleans East.
At Wednesday’s budget hearing, the New Orleans Redevelopment Authority said no improvements have been made on the site and the developer, Bayou Phoenix, is currently looking for investors to back the $500 million project.
“The conversations that our outside counsel has had with their counsel is that they anticipate to be able to know one way or the other by the end of the year whether or not they’ll get it,” said Brenda Breaux, Executive Director for NORA.
The proposal from Bayou Phoenix is to build an outdoor water park, hotels, retail and entertainment space, a sports complex, and movie studios.
Lead developer Troy Henry has said that the project will primarily be funded through private investments and some funding from the city, but they still need more money.
The latest news from NORA did not sit well with city leaders like Council President JP Morrell.
“I mean, the people who live adjacent to that property in that community, they do not like living next to the, you know, a set of like a zombie apocalypse movie,” said Morrell. “If that development cannot be developed as promised, then we are prepared to pivot aggressively to going back to the market, find a new developer with ironclad financing for a development that will have jobs and redevelop that property.”
NORA is budgeting $5 million to give to the project in its 2027 spending plan. That money is set to come from bond sales.
WDSU reached out to Henry for comment regarding the deadline, but a response was not received.
READ MORE:Six Flags sits stagnant with New Orleans leaders eyeing “drop-dead date” for development progress
