The Movie Palace

CBD-3

Observation

There is no anchor for Third Street retail district now that department stores are gone.

Discussion

The modern anchor for a Downtown retail is the multiplex cinema. This strategy is a proven one. The best site for such a facility is on the parking lot(s) between Third and Lafayette between Laurel and Main Streets. An entrance lobby to the cinemas at the corner of Laurel and Third should activate the surrounding shopfronts, as this is roughly the midpoint of Third Street. In the event of failure to secure this site, a sec-ondary option is available in the parking lot between Florida and Convention Streets with the entrance still on Third. Cin-ema patrons will activate entertainment venues early on such as restaurants, galleries, bars. Subsequently, if under proper management, core retail can be incubated. These merchants and operators must be proactively identified, professionally leased, and professionally managed. A willing theater operator must be identified and a lease ar-rangement must be negotiated. It is conceivable that the theaters (not the lobby) be elevated to maintain the existing parking upon which several local commercial leases are based.

Recommendation

Negotiate a lease arrangement with a cinema operator. This will require a package of financial incentives. It will also require intricate negotiations with the owners of the parking lots. Failing in these, there is a backup site that, being more distant from the parking, is better as an anchoring function but more difficult to accept by the cinema operator.

Responsibility

Plan Baton Rouge & Downtown Development District.

Project Status

An incentive package is required to attract a movie developer to downtown.

Implementation

Explanation of Terms

Product

New Multiplex Cinema

Responsibility

PBR & DDD

Implementing Agent

Cinema Developer

Feasibility Analysis

PBR

Initial Financing

PBR

Project Financing

BRAF & Cinema Operator

Timing