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New Orleans real estate developer invest in vacant Downtown Lake Charles building – KPLC

Lake Charles, LA (KPLC) – Change is coming to Downtown Lake Charles as a vacant space on Ryan Street will soon be redeveloped.

Some Downtown businesses have sat empty since Hurricane Laura, but 710 Ryan Street now faces a new fate.

“We understand what it’s like to have to be resilient as a community after a storm and Lake Charles shows the signs of really building back stronger,” CEO of Green Coast Enterprises Jackie Dadakis said.

Green Coast Enterprises is a commercial real estate company based in New Orleans. The real estate developer acquired the vacant building on Ryan Street that was once home to Zephyr’s and Luna Live.

“No city wants to have a lot of vacant buildings, now quite frankly, some of that trend again was even pre Hurricane Laura,” Lake Charles Mayor Nic Hunter said.

Hunter told 7News the city has seen a shift in retail and the way people shop, leading to many empty store fronts downtown, but recent storms make it that much more difficult to bring new businesses in or old ones back.

“This is really a classic Green Coast project,” Dadakis said. “We love working with historic buildings and bringing them back and learning the stories and then honoring that history by bringing that modern ground floor local retail and then hopefully two floors of office space upstairs.”

Green Coast is investing an estimated $16 million into redeveloping the building.

“I’m very optimistic that we’re going to continue to see those investments in Downtown Lake Charles and throughout the city,” Hunter said.

“We would love to be under construction by the middle of next year and bringing this building online in 2024,” Dadakis said. “Obviously it’s a bit of an adverse interest rate market right now so I will be honest that timeline could move if we see another rate hike.”

Green Coast Enterprises said if all stays on track, construction will start as early as summer of 2023.

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