What is the proposed development?
In Fall of 2022 REV Entertainment entered into a cooperative relationship with the City of Shreveport to bring baseball back to Shreveport.
The partnership includes new development in the Shreveport Fairgrounds area, including a ballpark to serve as the home for an independent baseball team.
REV Entertainment and the City of Shreveport are currently developing a master plan for the area, including the future site of the ballpark. The development of this project is being done in collaboration with The State Fair of Louisiana, Independence Bowl, the Louisiana State Exhibit Museum, the Shreveport Mudbugs, and the Queensborough Neighborhood Association.
What is the current status?
We are currently in the design phase of the project. We are reviewing the best plans for the Fairgrounds, and deciding what pieces of the development should be part of phase 1.
At the same time, the City is working with the city to clarify all financial options. This includes working with a third-party accounting firm that is working to provide a feasibility study and economic impact survey. Both pieces will be vital to the success of the project.
How will the stadium project be funded?
The City of Shreveport will construct and own the ballpark, including responsibility for any debt issuance associated with the stadium construction. The ballpark would then be leased to and maintained by REV Entertainment.
At this time, The City of Shreveport does not anticipate using a General Obligation Bond via voter referendum to fund the stadium.
The city is also engaging with a third-party financial advisor to determine if the economic impact and new revenues generated by the mixed-use development surrounding the stadium would be sufficient to offset debt payments for its construction. This means the investments, land donations, lease arrangements, and other new or off-set revenue sources generated by REV Entertainment would satisfy the debt associated with the stadium.
What have your conversations been with the current administration?
Having the support of the mayor and the city is a priority for a project like this. We first met with Mayor Arceneaux the night of the runoff election. We presented the preliminary plans with him at that time. We returned to Shreveport in January to meet with Mayor and his administration. At that time we shared more details of the Master Plan, and discussed a timeline for moving forward.
What is the timeline for the project?
We are currently in ongoing conversations with the city about the project. There are many steps that need to be take place before we can start construction. Once we are able to finalize funding and a contract, we will be able to continue the design phase. Following the 8-10 month design phase we will begin construction, which can take 10-14 months. Again, this timeline doesn’t start today, it starts as soon as we are able to finalize the necessary financial details with the city.
Have you had any conversations with neighboring cities?
Our goal is to bring baseball and a multi-purpose entertainment venue to the region. We had discussions with neighboring cities in that we want everyone in the MSA to not only be supportive of the project but understand how it will benefit their residents.
Who is REV Entertainment?
REV Entertainment is a full-service events and entertainment company. Based in Arlington, Texas, REV Entertainment features an events, entertainment, sports management, food service and development division.
The REV Sports Management division oversees two MiLB teams in North Carolina – The Down East Wood Ducks and Hickory Crawdads. REV Entertainment also includes a development team, who is currently working with multiple municipalities across the country to develop similar projects.
How much will the ballpark cost?
The cost of the ballpark won’t be determined until the design team has the full scope of the project (i.e. seats, capacity, square footage, and premium seating areas). Similar projects of this size range between $70-$100 million.
What is going to be done to ensure the people in the surrounding communities have access to the new multi-sports complex?
The ballpark will be accessible for all residents and visitors to the area. This area will be a demand driver for baseball and other community events.
REV Entertainment is committing to giving back to the community and youth living in the surrounding neighborhoods through several initiatives. This is a standard that they have set in other communities where they have a footprint. This opportunity is about more than baseball, but also is about giving our youth access to new activities and giving citizens in Shreveport more to do.
Where are you in the process?
Since the initial announcement last Fall, REV Entertainment has continued work on the master plan alongside the City of Shreveport.
REV Entertainment has also continued to meet with stakeholders in the community. The goal of these meetings was to make sure this development would complement the county, the town, and the region.
Right now, we are in the process of developing phase one. We are working with the city and our community partners to determine what will be in phase 1.
The final design, as well as construction, will start as soon as financing is approved and the proper contracts have been signed. Once completed, design and construction are estimated to take 24 months.
What baseball team will be here?
REV Entertainment is developing a plan that would include bringing an independent baseball team to Shreveport. The sports management division of REV Entertainment is currently overseeing and managing two minor league baseball teams – both of which are located in North Carolina.