Shreveport Is Putting a 60,000 Square Foot Downtown Building Up for Bid

Shreveport is planning to sell a piece of downtown property to the highest bidder.

The City Council is being asked to ok a proposal to sell the building at 401 Texas Street. The measure before the council says “the City of Shreveport determined that it is in the best interest of the City to sell the Property.”

The minimum bid price is listed at $850,000 which was the appraised, fair market value of the property as of December 2, 2024. But that price was dropped to $507,000 after a reappraisal done in May of 2026.

This building at the corner of Texas and Edwards was built in 1977 to house Pioneer Bank and in 1994 was used by Hibernia Bank.

The city of Shreveport purchased the property in 2003 for $750,000 dollars. It was used to house the Multicultural Center of the South and later as home for the city’s Community Development Department until those operations moved across the street to One Texas Centre at 415 Texas Street.

City leaders say the space at 401 Texas was too large an inefficient for the Community Development department which prompted the move.

What Does 401 Texas Street Include?

It is a 60,000 square foot building with five levels—including a ground-floor lobby, a mezzanine, and a basement parking garage.

The city previously tried to sell the property through an agent but hasn't gotten any legitimate offers. The goal is to now solicit bids for the property in hopes of getting the building back into commerce.

But it will take some time. The City Council has to declare the building surplus before it can be put up for auction. The measure has to lay over for 2 weeks before final action can be taken.