Press Release
Contact Neil Kapadia, ViaNova Development
412-512-3270 or neil.kapadia@vianovadevelopment.com
Liz Swaine, Downtown Development Authority and
Downtown Shreveport Development Corporation
318-222-7403 or liz@downtownshreveport.com
THE STANDARD SETS THE STANDARD FOR SHREVEPORT ONCE MORE
City’s oldest skyscraper becomes downtown’s newest mixed-use development
SHREVEPORT, La.—When Peter Youree was named president of Shreveport’s Commercial National Bank 125 years ago, he had seen a lot. He’d been wounded in the Battle of Shiloh during the Civil War, he had married Betty Scott and fathered two children, he’d founded Shreveport’s first waterworks and streetcar system, and he had served as president of the Caddo Parish Police Jury. What he hadn’t seen was a skyscraper gracing the Shreveport skyline,
and that was something he very much wanted to see. His dream was “to build an office building for Shreveport that could match anything in New Orleans,” historian Eric J. Brock wrote in 1994.
In 1910, Youree made his 19-year vision a reality when he commissioned the Commercial National Bank building at the corner of Market and Texas streets. Featuring ornate marble and terra cotta accents, Brock noted that the 10-story structure was one of the “major buildings of the South” at that time. It was reinforced with steel and cost a then-hefty sum of $500,000 to build.
The two-story lobby was a vision in marble with intricate Greek key-patterned iron railings bordering the mezzanine and elegant brass elevator doors emblazoned with a “CB” monogram. Today, the building’s lobby still maintains those century-old features, yet the rest of the property is undergoing a visionary transformation courtesy of ViaNova Development.
The company recently completed a similar project in Chattanooga, Tenn., turning the 98-year-old Clemons Bros. Furniture building into 54 modern luxury lofts with retail and dining on the first floor. “We love finding buildings with beautiful old bones and breathing new life into them,” said Neil Kapadia, ViaNova.
Development principal partner. “It’s a big responsibility to take good care of these historic properties, and we enjoy turning them into landmarks that cities can love again.”
ViaNova will retain the original splendor of the Commercial National Bank building’s lobby as they transform it into a mixed-use property they have rechristened as “The Standard.” The new incarnation will feature 86 luxury residential lofts on the upper floors along with amenities including a rooftop dog park and adjacent covered parking.
According to Kapadia, the company is pursuing a new bank tenant for the ground floor of The Standard that will make use of CNB’s massive vaults, which have remained intact since the building opened in 1911. An upscale market will also occupy street-level space, offering gourmet provisions, a rotating selection of craft beers, and freshly-prepared sandwiches and salads among other items.
Architectural planning for The Standard is in its final stages, with construction expected to begin this month. ViaNova’s investment into the Shreveport community to transform The Standard is approximately $10 million, and the Downtown Development Authority (DDA) and Downtown Shreveport Development Corporation (DSDC) are optimistic about the impact this project will have on one of the main gateways into downtown Shreveport.
“When Peter Youree constructed this building, his intention was always for it to be important and grand, and for many years, it was. With ViaNova’s work and vision, it will be again,” said Liz Swaine, executive director of the DDA/DSDC. “Their plans for the property add excitement and an important residential opportunity to this essential part of our historic downtown.”
The Standard is expected to begin leasing residential units in June 2017.
ABOUT VIANOVA DEVELOPMENT
ViaNova Development is a boutique development firm specializing in multi-family and hospitality properties in second- and third-tier cities in the Southeast and Midwest. With a proven track record in identifying and building value, ViaNova seeks to generate returns through strategic leadership, operational excellence, outstanding management partnerships, opportune acquisitions and financing expertise. Current projects include mixed-use developments in Chattanooga and Shreveport along with boutique hotels in Omaha and St. Louis, all of which are located in historic downtown buildings. More information is available at vianovadevelopment.com.
