The Lake Area has kept a close watch from afar as the Hertz Tower — better known as the former Capital One tower —  came down in September. The city of Lake Charles has announced a news conference on Friday to share details about what might go up in its place.

No other details are available at this time from the city, according to spokesperson Katie Harrington.

However, one of the investors who may be involved with the project, upon final approval from the council, did share some information on RENEW LLC.

RENEW LLC was mentioned in the email from Harrington listing council items related to Friday’s announcement.

One of those is the introduction of an ordinance authorizing the mayor to enter into a cooperative endeavor agreement with RENEW Lake Charles, LLC, for the construction of a hotel and conference center on the grounds of the Lake Charles Event Center.

A second upcoming agenda item will be the introduction of an ordinance authorizing the mayor of the city of Lake Charles to purchase the property located at 1 Lakeshore Drive from Hertz Lake Charles One, LLC (Hertz), such purchase to include the parcel and parking garage owned by Hertz located to the east of 1 Lakeshore Drive.     

“These items will be for introduction only on this Wednesday’s City Council agenda,” Harrington said. “Discussion and final action will take place on Wednesday, Dec. 18, at the Council’s regular meeting.”       

RENEW Lake Charles, LLC is a limited liability company that filed with the state in August 2023. Two of its members are local investors/developers, two are not. One of the investors has been involved in the investment and development of properties to include the New Orleans Ritz and St. James, according to one of the investors who asked not to be named until Friday’s press conference.     

“The LLC was formed for the express purpose of restoring and revitalizing downtown Lake Charles and re-energizing the LakeFront,” he said. “Initially, conversations began with the intent to rehabilitate the Hertz Towner.”