Juban Crossing first phase expanding, revenue bonds get nod

The first phase of Juban Crossing is expanding after national retailers slated for a later phase of the development decided to bump up their schedules.

The retailers joining the first phase have not been disclosed, but their addition will mean another 71,000 square feet of retail space in the initial phase of the development, set to begin opening in October, said Stephen Keller, a principal in Creekstone Cos.

Keller said more than 400,000 square feet have been leased thus far for the development, which is north of Interstate 12 at Juban Road in Livingston Parish.

Construction is underway for stores including Rouses, Belk, Academy Sports + Outdoors, Lane Bryant, Old Navy, PetSmart, T.J. Maxx, Ross, Shoe Carnival, Ulta and Bed Bath & Beyond, he said.

The Juban Crossing Economic Development District’s board of supervisors on Thursday approved a resolution in support of a revenue bond for up to $8.5 million to accommodate the additional construction. The matter will now go before the State Bond Commission.

“We always knew that retailers would be eager to get on board with the development, and this latest bond issuance underscores the enthusiasm among national tenants to get in early,” Keller said in a written statement.

Also included in the initial phase will be an 11-screen Movie Tavern, owned by Southern Theaters, of New Orleans.

The Bond Commission previously approved $30 million in local borrowing for the project’s first phase. Revenue from a 2-cent local sales tax and 40 percent of drainage and road sales taxes collected within the development will be used to pay off revenue bonds.

The $350 million multiuse development, being built in three phases on 471 acres, also will include national chain restaurants and a drugstore, as well as single- and multifamily residences and a hotel.

Developers estimate Juban Crossing will generate about $22 million in tax collections over 25 years and about 1,500 jobs in construction alone.

Follow Heidi R. Kinchen on Twitter, @HeidiRKinchen.