Support of the state acquisition of 500 Fannin Shreveport

  • Support the State Purchase and Redevelopment of the Waggoner Building at 500 Fannin St in Shreveport, La.

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  • The Waggoner Building

    Located in the heart of downtown Shreveport, 500 Fannin is known by the locals as the “Waggoner Building” named after Joe D. Waggonner, a highly respected statesman who served 18 years in the United States Congress. Originally built in 1974 for Federal Government Offices and Courts, it is a 152,205 square foot, 8 story office building which includes a basement and a 300-car parking garage located on approximately 2.35 acres. It is adjacent to the Shreveport Convention Center, Federal Courts and 2nd Circuit Court of Appeals. In the early 90s, it was learned there was asbestos in the air plenums throughout the building which necessitated the federal courts relocate to another facility.

    Louisiana College purchased 500 Fannin in 2011 and began the abatement of asbestos and interior demolition in order to rebuild the space for a law school. The college later determined to not pursue the creation of the law school but did complete asbestos abatement and interior demolition of approximately 50% of the building. A new roof as well as elevators were also installed.

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  •  State accquisition and redevelopment of 500 Fannin addresses multiple long-term state and local needs: 

     Need #1 - State Offices for Northwest Louisiana

    Approximately 10 years ago, an independent feasibility study was initiated by the State of Louisiana and completed by Jones Lang Lasalle to address the needs of the state’s offices for northwest Louisiana. The study recommended that state offices be would best located within the downtown area and be adjacent to the other court systems and government offices. As the state was deliberating and pursuing a capital outlay request to move forward with 500 Fannin, it was learned the state’s finances were not adequate to pursue at the time, thus plans were put on hold. The need for new offices for the state remains, nonetheless. 

     

    Need #2 - Downtown Shreveport is in dire need of activity and occupancy. 

    Downtown Shreveport vacancy rates in office buildings are some of the highest in the country, primarily due to: 

    - Decreased population of the city, affecting need for office space 
    - Decreased activity in the oil and gas industry 
    - Decreased need for office space in the banking industry 

    The relocation of the State’s offices into downtown would contribute greatly to the much needed increase in activity in Downtown Shreveport. An excellent example of this would be the relocation of the multiple state offices in Baton Rouge into their downtown area, which gave a large resurgence of activity and commerce. 

  • An Optimal Solution

    Renovating 500 Fannin for the state’s offices is the most viable solution for these needs in many ways: 

    • Renovation and occupancy of Fannin can be performed at a fraction of the cost of new construction.  The land is already assembled, the foundation and steel structure is in place as well as an already existing parking garage. 
    • The location of Fannin closely mimics what the Jones Lang LaSalle report recommended. 
    • The state can gain efficiency of both design and operations with an updated building and significantly lower operating costs. 
    • Downtown Shreveport is in dire need of activity and occupancy in downtown and the relocation of the state will go a long way in contributing to the increased activity.

    This redevelopment opportunity of an eight-story office building and attached parking garage located in Shreveport's Central Business District offers a central location with quick access to I-20 and I-49. 500 Fannin is adjacent to the Shreveport Convention Center, Federal and District Courts, and walking distance from the Red River District, Festival Plaza, and Riverfront area shopping, resorts and entertainment. 

  • ACTION NEEDED

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  • Format: (000) 000-0000.

  • Honorable Member of the House of Representatives,

    I am writing to express my support regarding the state acquisition of 500 Fannin St in Shreveport to be redeveloped as State Offices for Northwest Louisiana. Renovating 500 Fannin for the state’s offices is the most viable solution for long-term state and local needs. Renovation and occupancy of 500 Fannin can be performed at a fraction of the cost of new construction. The land is already assembled, the foundation and steel structure is in place as well as an already existing parking garage. The location of Fannin closely mimics what the Jones Lang LaSalle report recommended and the state can gain efficiency of both design and operations with an updated building and significantly lower operating costs. Downtown Shreveport is in dire need of activity and occupancy in downtown and the relocation of the state will go a long way in contributing to the increased activity.

    Therefore, I respectfully urge you to publicly support the relocation of the State’s offices to 500 Fannin.  

    Sincerely,

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