City leaders in New Orleans are considering a “drop-dead date” for the redevelopment of the former Six Flags site in New Orleans East after the New Orleans Redevelopment Authority (NORA) revealed that no improvements have been made to the property. Council President JP Morrell warned that the city is prepared to “pivot aggressively” and seek a new developer with “ironclad financing” if the current plans cannot be delivered as promised.
The stagnant state of the land has drawn criticism from Morrell, who stated that residents living adjacent to the property do not like living next to what he described as a set of like a zombie apocalypse movie
.
The Bayou Phoenix Proposal
The site is currently under a proposal by developer Bayou Phoenix to create a $500 million project. The planned development includes:
- Movie studios and a sports complex
- An outdoor water park
- Hotels, retail, and entertainment space
Lead developer Troy Henry has indicated the project will rely on a mix of city funding and private investments, though the team still requires more capital. According to Brenda Breaux, Executive Director for NORA, the developer is currently seeking investors to back the venture. Breaux noted that based on conversations between outside counsel, it is anticipated that the developer will know by the end of the year whether they will secure the necessary funding.
Troy Henry Claims Project Lacks Public Assistance
While NORA has included $5 million from bond sales in its 2027 spending plan for the project, Troy Henry claims the initiative has not yet received any public assistance. Henry stated that his team has been the sole investor thus far despite multiple requests.
Henry expressed optimism about the project’s prospects and urged city officials to avoid “non-supportive public comments,” arguing that negative remarks could undermine the underwriting process for potential financing partners.
The City of New Orleans is taking my advice, considering rebidding old 6 Flags site after no progress in 5 years https://t.co/oOiXRttucR
Unresolved Timeline
Despite the developer’s insistence that major municipal projects take time, the city is awaiting confirmation on the project’s financial viability. It is unclear if Bayou Phoenix will secure the required investors by the end of the year or if the city will seek a new developer.
