50 Cent‘s new G-Unit Film Studios in Shreveport, LA is on track to impact much more than just his own bottom line, thanks to a well thought out plan for the city.
According to local NBC affiliate KTAL, 50 and his team have unveiled a “three-phase” initiative that will see the artist and mogul invest directly into the people and the community. And he has already kicked off the first part of the process, which will see him revitalizing a number of properties in downtown Shreveport.
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Gerod Durden, the real estate broker helping G-Unit execute this revitalization process, told the news team that 50 Cent plans on buying and renovating about two dozen commercial properties.
“He is very passionate about the city,” Durden said. “I would say 10 or more properties that we’ve already closed a few of this week. It’ll be an additional 10 or so. These are all-cash offers. You know, there, there’s quite a few entertainment spots for not only adults and kids.”
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He added: “He’s bringing a big jump park here. I mean, it’s a substantial size park. We’re looking at a grocery store in the immediate downtown Shreveport area, and those are ideas that we come up with together with the whole team. What can help the community?”
Following the commercial revitalization, the team will move towards helping ease the path to homeownership by both making more housing available, and making financing more attainable.
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“And we start building houses, and we have an idea to grow in the community and help low to moderate-income families get mortgages,” explained G-Unit Film Studio’s Growth Advisor Orville Hall. “And phase three would move into the kids; we are going to go to each high school and put in media programs for kids to start training and mentor purposes. All these things for young people to have a positive environment.”
The relationship between 50 Cent and top brass in Shreveport has been overwhelmingly positive since the G-Unit boss entered into a deal to bring his growing film empire to the northwest Louisiana city in November.
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The deal came after city council members introduced a legislation allowing the Hip Hop mogul to lease Millennium Movie Studio as a base for his entertainment company, G-Unit Film & Television Louisiana, LLC.
“We enjoyed for a period after 2005, we enjoyed a very robust television and film industry in the Shreveport area,” Mayor Tom Arceneaux said. “This will bring back, I think, a lot of those people and will rejuvenate that industry in our area. So I think the film industry is about to blossom again in Shreveport.
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“[50 Cent]’s undertaking all of the maintenance and repair, which is around 160 to 170 thousand dollars a year. So to look at just the lease payment is not fair to him. We also anticipate he’s going to make several million dollars of improvements to the facility. This is a very serious proposal, a very serious undertaking by him.”
The lease will cost Fif $2,400 annually for 30 years, after which he can renew it for 15 more.
In April, the veteran rapper, born Curtis Jackson, was honored with his own day in Shreveport, and presented with a ceremonial key to the city by Mayor Tom Arceneaux.
At the event, which took place in front of fans, 50 said: “Ladies, gentlemen, Mayor Tom Arceneaux and the wonderful people of Shreveport, it is an honor for me to stand before you here today.
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“As someone who’s always believed in the transformative power of music, film and television, I’m really excited to show you the expansion of film and television through G-Unit Studios right here in Shreveport.”
The Power mogul also praised the mayor on Instagram, writing: “Mayor Tom Arceneaux really cares about people, I talked to him today I was really impressed with his energy. I usually be like wait a minute, when politicians are involved but I think he is a whole good guy. WTF.”
