Cypress Group will take another shot at Lakefront development - KPLC 7 News, Lake Charles, Louisiana

Cypress Group will take another shot at Lakefront development

By Adam Hooper - bio | email

LAKE CHARLES, LA (KPLC) - The Cypress Group has again made some changes to improve on what the Lake Charles city council disapproved of last time. As expected, the hidden parking garage is back in the plans, and there is more room for commercial business. Four Council members were in favor of the new proposal, two were against, and one abstained. The Cypress Group got the approval to continue with their project.

The biggest concern among council members was that HUD could potentially take until April to approve or disapprove the Cypress Group's plan. During the meeting the council decided to make an amendment on the item voting to approve the updated proposal. The Cypress Group now has 60 days to submit the new plan to HUD. HUD will have to approve or disapprove the project in its entirety. No revisions can be made, or the contract with the city would become null and void. Ideally the city council would like a response by the end of December, but if that does not happen the Cypress Group will put up a $50 thousand, non-refundable deposit to allow the city to keep the prime real estate off the market. 

"I think that's a fair deal. It puts the burden on us. If we feel like it's worthy of waiting, then we will have to pony up. The ball is in our court. We have 60 days, and we will crank out that offer first thing in the morning," said  Chris Rinaudo with the Cypress Group.

Copyright 2010 KPLC. All rights reserved.

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