5 /5 Michael ArchAngel: It’s been a few years since St. Landry Plaza has sparkled, but that may change soon.
Opelousas city officials, joined by parish government and economic development representatives, were on hand Wednesday to welcome Andy Weiner with Rock Step Capital, the plaza’s new owner.
Weiner’s family once owned a department store in the city. He said his group plans to invest millions of dollars into the project on Interstate 49 over the next few years.
“This family has a history here. Now they are back to invest in our city,” said Opelousas Mayor Donald Cravins. “This will bring new life to this section of our city.”
He said Rock Step Capital has an impressive track record throughout the nation of turning around other, similar projects.
“This means people will no longer have to drive to Lafayette to find what they need. Restaurants and retail outlets are one of our missing links,” Cravins said. “Investors and businesses are looking at us again. This is one more marketing tool to move our parish forward.”
Weiner, whose company last week purchased the plaza located just off Interstate 49 between Judson Walsh Drive and Cresswell Lane, said new businesses have already committed to locate in the center. He predicted that total will grow quickly once restoration efforts begin.
But he also cautioned that rebirth is still a few years off.
The center has been struggling since Wal-Mart, then the center’s major anchor store, moved to a larger site more than a decade ago.
When Wal-Mart left this became a problem loan. It had fallen into foreclosure,” Weiner said.
The previous owner’s financial problems meant that company did very little to maintain the property and made no real effort to bring in new businesses.
He said his investment group plans to pump millions of dollars in to the project, but warned “it won’t happen overnight. The turnaround will take two or three years.”
That money will refurbish the entire center. The first improvement most people will see is new, modern signage, which could be in place this year or early next year. “That is important to bring in national clients,” Weiner said.
He said that signage will also benefit the plaza’s current tenants, giving them a presence on the interstate, most for the first time. “There will be no charge to our tenants. This is our gift to them.”
After that will come the major upgrade to the plaza, which will include new store locations for restaurants and other businesses in the plaza’s large parking area on the side facing the interstate.
He predicted the reborn shopping center will once again become a major shopping hub, attracting shoppers from throughout the region.
“I really believe in this community. This is a great market for us to invest in. We think we can make a difference,” said Weiner, who said the project involves investors from not only St. Landry Parish, but from a 10-state region.
