SHREVEPORT, La. – A long empty downtown tower once crowned as Shreveport’s best address is once again stepping up to compete for that title.
Shreveport DDA Executive Director Cedric Glover said in a news release Thursday the Petroleum Tower is about to undergo a $30 million investment to convert it to 117 modern residential units, with the ground floor being retail space.
Glover credited Mayor Tom Arceneaux and the Shreveport City Council for pushing the project forward. Tuesday, the council unanimously approved the redevelopment.
Petroleum Tower
“The redevelopment of the Petroleum Tower marks a major milestone in our efforts to reimagine and reinvigorate our downtown core,” said Arceneaux said in the release. “This project transforms an underutilized asset into a vibrant residential community and supports our vision for a dynamic, thriving Shreveport.”
The project is led by Louisiana Historic Development LLC.
Councilman Gary Brooks reinforced the importance of this investment, stating, “As a candidate, I committed to aggressively pursuing opportunities to rejuvenate our downtown. Because what’s good for downtown, is good for Shreveport as a whole. And there is nothing better for Shreveport than figuring out how to put buildings that have been empty for decades back into commerce. The Petroleum Tower Lofts project does that in all aces.”
“This is the type of progressive leadership that we need,” said Council Chairwoman Tabatha Taylor. “Downtown is the core and foundation of our city and I am excited that the DDA has a leadership team headed by Mr. Glover that is working with the administration, city council and developer community to evolve and revitalize it.”
Glover noted mid-century Shreveport developer N.O. Thomas is the one who labeled the Petroleum Tower as Shreveport’s best address.
“The Petroleum Tower project is not just about new construction—it’s about breathing new life into a piece of Shreveport’s history,” said Glover. “By restoring a long-vacant building and repurposing it as a much-needed residential and retail space, we’re making a clear commitment to the future of our downtown. This project will renew the area, create lasting opportunities, and lay the foundation for the continued evolution of our community.”
Construction is expected to start within the next three months.
“This is more than a construction project — it’s a step toward building a stronger, more connected Shreveport,” added Economic Development Director Bill Sabo. “This is a significant investment in downtown and what we hope will be just the beginning as developers start to see its potential.”