A little over a year ago, the Broussard movie theater closed.
Billeaud Companies, the owner of the property, asked for "fresh and creative" ideas to redevelop the building and the property, but apparently that didn't work out.
On Monday, Billeaud announced they'll be tearing down the building.
"After entertaining several proposals and prospects with plans for an adaptive reuse of the theater building, it has become evident that the property needs a clean slate. Due to the nature of construction and size of the building, it is simply too costly to repurpose this structure, and it will be removed in the coming weeks," a release from the company states.
The release states that the company's goal "from day one has been to create value not only for our shareholders, but for the entire community."
The property is well located and highly visible, the release states. It's close to other Billeaud Companies holdings and properties, as well as the main office, and large retail centers across US 90.
“While originally planning for redevelopment centered around the existing structure, we believe we may have limited options and creativity of the site design,” says Paul Eason, Billeaud Companies Board Chairman, about the demolition of the building. “With the building gone, this will open up site planning ideas and give a fresh visualization of what this property can become.”
Billeaud Companies is working with current prospects toward an ultimate plan to parcel out the 8-acre site to maximize frontage options and access for local, regional and national restaurants, retail, multi-use and fast-food operations along Main Street and Celebrity Drive. The almost complete next phase of "Envision Broussard” by the city will bring a new streetscape and increased walkability on Main Street in front of this property. Billeaud Companies believes this redevelopment plan is a perfect complement to the city’s investment.
Just across Celebrity Drive, the Broussard location of Walk On's has closed in recent weeks.
“There are few things that are certain about real estate investments except for the fact that you have to be prepared to change and adapt,” says Steven Hebert, Billeaud Companies CEO. “We are off to a better future for this investment and look forward to what this property can become.”
