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Grambling hosts dedication ceremony to celebrate new NMTC-funded Legends Square retail development, induct 24 honorees into ‘Walk of Fame’

July 9, 2017Grambling, LA

Grambling Ribbon Cutting

City leaders, state legislators, sports Hall of Famers, honored guests and local residents celebrated the grand opening of the Legends Square retail development with a ribbon cutting event and the induction of 24 people into Grambling, Louisiana’s new Walk of Fame on Saturday, July 8. Enhanced Capital was pleased to participate, having helped to provide $10 million in federal New Markets Tax Credits to the project.

Covered by KTVE NBC 10 and other media, the well-attended event marked the beginning of a new legacy for Grambling – one that includes the city’s first grocery store in almost 50 years. The Legends Square retail development features a 48,300-square-foot plaza, which will include a full-service grocery store and pharmacy, new retail stores and a Walk of Fame honoring Grambling’s rich history and remarkable residents.

Alongside legendary city and sports icons, Grambling Mayor Edward Jones, U.S. Congressman Ralph Abraham, state Sen. Jay Luneau, state Rep. Patrick Jefferson and Louisiana Economic Development Deputy Secretary Brad Lambert praised Legends Square for providing a much-needed economic boost to the local community.

“This new development will allow us to meet the needs of our community members and visitors while also providing new economic opportunities to local residents,” said Jones, Grambling’s mayor. “Legends Square will create jobs while also providing essential goods and services to those who live here.”

Grambling State University (GSU) President Rick Gallot further emphasized how important the new development was for the university and surrounding communities. “For those who come and visit the university, and especially for football games and other activities, for them to see this economic growth will certainly send a message versus just coming and seeing pine trees between the interstate and the campus,” Gallot told NBC 10.

Legends Square has been hailed as a boon for not only the city, but also the state of Louisiana overall. “Louisiana Economic Development welcomes the Legends Square retail development to historic Grambling,” Louisiana Economic Development Deputy Secretary Brad Lambert said. “The federal New Markets Tax Credit is put to good use with projects such as this, which will create 60 permanent jobs while providing improved retail services for local residents. What’s more, the project should provide a substantial boost to Grambling’s tax base, and we’re hopeful Legends Square can be a catalyst for subsequent economic development projects.”

Home to GSU and well-known for its rich history and academic legacy, the new Walk of Fame honors 24 Grambling greats such as B.T. Woodard, the city’s first mayor; the late legendary football coach Eddie Robinson; legendary basketball coach Fredrick C. Hobdy; GSU’s first president, Charles P. Adams; and NBA hall-of-famer Willis Reed. Legends Square represents an important step toward revitalizing the local and surrounding areas.

Through New Markets Tax Credits and other economic development programs, Enhanced Capital remains committed to supporting growth and creating jobs in low-income, underserved communities throughout the nation.

KTVE NBC 10 provided full coverage of the event.