Tax credits sought to build artists community in Mid City

Published Jun 19, 2012 at 10:00 am (Updated Jun 19, 2012)

At its 2 p.m. meeting today, the East Baton Rouge Redevelopment Authority Board of Commissioners will consider allocating $8.1 million in New Market Tax Credits to a proposed artists community on land next to the Circa 1857 complex on Government and South 19th streets. "The idea is to build an artists live/work community of sorts," says Danny McGlynn, who owns the Circa 1857 property along with Dennis Hargroder. "We're looking at about 28 to 30 units, at least half of which would be rent-restricted for designated artists." Another 7,000 square feet of commercial space would accompany the residential and studio space, McGlynn says. Though there are no hard plans for what would occupy that space, he says, "Whatever goes in there will be art related." The existing buildings at Circa 1857 would not be renovated as part of the project, but some additional parking may be included. McGlynn says the total cost of the project is estimated to be $8 million. However, he adds, the tax credit being considered by the redevelopment authority today "is not a direct $8.1 million benefit to me by any means." He says approval of the tax credit would equate to about a $2 million in direct benefit to the project. "If they approve it, I'd say we're 90% of the way toward saying this project is a go," McGlynn says, adding he's also seeking other tax credits for the project and will not be able to complete it without them. The EBR Redevelopment Authority board meets in the second-floor conference room of its offices at 801 North Blvd. —Steve Sanoski