50 Cent is buying up dozens of properties in Shreveport, La. to revitalize the city’s economy.
50 Cent’s G-Unit Continues to Buy Numerous Properties
On Wednesday (June 12), local Shreveport news station KTAL reported that 50 Cent and members of his G-Unit team were in the process of buying “two dozen” properties in the downtown Shreveport, La. area. A local real estate broker named Gerod Durden, who has been workly closely with the Power mogul, said 50 Cent was “passionate” about bringing a vibrant community back to downtown Shreveport.
“We’re looking at a grocery store in the immediate downtown Shreveport area,” Durden told the news outlet. “And those are ideas we’ve come up with together with the whole team and saying, ‘What can help the community?'”
50 Cent reportedly has three phases to his revitalization plan. Phase one is revitalization, which includes purchasing dozens of properties, abandoned lots and other vacant buildings. Phase two is housing, which includes turning a majority of purchased properties into affordable housing for lower-income families. The third phase involves implementing programs for children to keep kids safe and engaged in the local community.
“We have an idea to go into communities and help low to moderate income families get mortgages,” said G-Unit’s growth advisor Orville Hall. “We’re gonna go to each high school and we hope to put an immediate program in each high school to start training purposes and mentorships. All kinds of things to put young people in a positive environment.”
In a separate broadcast on local news outlet KSLA12, Shreveport’s Mayor Tom Arceneaux expressed unwavering support for 50 Cent’s plan. He said 50 has a “keen interest” in downtown Shreveport and “really intends to transform the area.”
50 reacted to both of these broadcasts on his Instagram. “Betting on me is not a gamble, it’s a sure thing Sherevport is up next,” he wrote.
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50 Cent Reveals He Opened Studio for Open Media Company
50 Cent’s interest in Shreveport can be traced back to May when the mogul quietly purchased and opened his G-Unit Films and Television Studio in Shreveport. Before spreading the word about the new property, local news station KSLA12 reported last December that the city council had approved 50 Cent’s lease of Millennium Studio for his new company. 50 Cent is reportedly leasing the city-owned building for $2,400 a year.
Read More: 50 Cent Advocates for Black Representation in Liquor Industry
Watch the news coverage of 50 Cent’s revitalization efforts and see his reaction below.
