Baton Rouge Growth and Development

[steve3n8]

Venyu expanding data center

Venyu, which operates a massive, 17,000-square-foot data center on Florida Boulevard, is in the process of adding another 10,000 square feet to its facility, CEO Scott Thompson says. The investment could be worth as much as $20 million, he says, noting that the company is also considering adding another 10,000 to 15,000 square feet to the 10,000-square-foot facility it has in Bossier City. "We have the only two commercially available data centers in Louisiana," he says. Thompson says the data center in Baton Rouge meets Tier III industry standards, which generally guarantees better than 99.9% uptime. "That means that we have redundancy at every critical path of infrastructure," he says. "We usually have two or more of what is required to provide the services that we do." Though Thompson asked that the Baton Rouge data center's users not be mentioned by name, he says several of the region's most high-profile firms store their information with Venyu. —David Jacobs

Businessreport.com

[steve3n8]

With lending tight for condos, developer turns to townhomes

The Cottages at Southfork were designed five years ago to comprise more than 100 condominiums on Southfork Avenue, off South Sherwood Forest Boulevard. Since then, developer Nick FaKouri has built 40 condos and sold 37. FaKouri, president of Tower Capital Corp., still wants to build 67 more units. To do that, he has devised a new strategy: Build townhomes rather than condominiums, "which makes them easier to finance," FaKouri says. "It's all about getting easier financing to homeowners." When the recession hit, home lending tightened up. But it got especially tight, FaKouri says, for condos. That's because condo buyers own only a percentage of the ground under their home and surrounding commons area. If 100 condos had been built and sold at The Cottages, then each buyer would own 1% of the grounds. "You go into a whole other category with condo financing," FaKouri says. On Monday, FaKouri will go before the city-parish Planning Commission and ask to change the zoning of The Cottages from high-density residential to single-family townhouse. If approved, FaKouri will build townhomes each measuring 1,250 square feet—in contrast to the condo range of 1,300 to 1,500 square feet—with one garage rather than two. Like the condos, the townhomes will be two-bedroom, two-bathroom units and will stay within the price range of $125 to $135 per square foot. "The whole key is to getting the dirt under your home," FaKouri says. For more plans on the development, visit its website here. —Adam Pearson

Businessreport.com

[steve3n8]

Gated, affordable-housing development planned north of airport

A 177-unit, mixed-use development is being proposed for the north side of Blount Road on 20.5 acres just north of the Baton Rouge Metro Airport. The development calls for 77 townhomes and 100 single-family homes—50 of which will be three-bedroom, and the rest of which will be four-bedroom. "We just thought it was a golden opportunity to do an affordable development in that area," says developer Brian LaFleur, noting the proposed LaFleur Oaks will be a gated community with green space, ponds and water fountain features. A request to rezone the property from residential neighborhood to planned-unit development will go before the Planning Commission on Monday. If the property rezoning passes, LaFleur says construction could begin in about four months, pending the approval of bonds and tax credits for which he has applied. The Planning Commission meets at 5 p.m. on the third floor of City Hall, 222 St. Louis St. You can check out the complete agenda here. —Adam Pearson

Businessreport.com

[dan326]

Cool! I wonder how many people will live in the BR metro in 2020??

[steve3n8]

Im guessing by then hopefully 1,000,000+ and growing...

[Antrell Williams]

Im guessing by then hopefully 1,000,000+ and growing...

I actually think we will be a bit shy of 1,000,000. Our CSA, with Pierre Part might bring us to 1,000,000 though.

[LAWdesigns]

heck look at gonzales, 18 hotels and going!

[cajun]

I see the area south of Baton Rouge towards LaPlace and Gonzales growing much faster than the state average in the future due to the industrial expansions going on there.

1,000,000 is possible but not likely in 20-30 years, IMO.

850,000 is more likely within the next 10.

[steve3n8]

'Real Estate Weekly': Out of foreclosure, office park on Coursey gets new life

A pair of 3,000-square-foot office buildings nearing completion on Coursey Boulevard, adjacent to The Chimes East, will be the first of 14 buildings planned to compose the Coursey Place Office Park. The project is getting new life after having been shelved in 2010, when the original developer lost the property in a foreclosure, says Chris Pike of Mike Falgoust & Associates. Destiny Interests picked up the property about six months ago, and shortly thereafter began speculatively putting up the first two buildings. "To me, this is a real example of consumer confidence coming back," says Pike, who is representing the property along with Ty Harvison of NAI/Latter & Blum. "It's been several years since we've seen any speculative building. Lending is still very tight, and I think there are only a handful of developers in town that could do this. So to see someone step up and take a calculated risk, I think that's a very positive sign." Stein Engineers, which is currently based in Central, recently committed to be the project's first tenant and will relocate its headquarters to a 1,500-square-foot space in the park on Jan. 1, Pike says. Read the full story and see a rendering of one of the office park's buildings, as well as an aerial map of the layout, in the new Real Estate Weekly e-newsletter here. —Steve Sanoski

Businessreport.com

[steve3n8]

B.R. startup lays out plans to grow, create 52 jobs

LocalMed, a software development firm that got its start in the Louisiana Business & Technology Center's LSU Student Incubator, announced a new venture today that LED says will create an estimated 52 jobs locally. The jobs will come in support of LocalMed's developing online and mobile technology platform that enables doctors, dentists and patients to schedule, manage and schedule reminders about their appointments 24 hours a day. By the end of the year, LocalMed will employ 12 people at its Sherwood Forest Boulevard office. The company will add another 10 to 15 employees in information technology, marketing, sales, customer service and operations during 2013, with employment ramping up to 38 by 2015 and 52 the following year. The jobs will pay an average annual salary of $52,000, plus benefits, says LED, which also estimates the new venture will create 53 indirect jobs. LED is assisting LocalMed's growth with workforce training via its FastStart program. LocalMed was devised by twin brothers Daniel and Derek Gilbert. They say they anticipate announcing more strategic partnerships in the health care industry in early 2013, when iTunes and Android apps for the company will debut. LED has more details on today's announcement at its website here.

Businessreport.com

[Antrell Williams]

I see the area south of Baton Rouge towards LaPlace and Gonzales growing much faster than the state average in the future due to the industrial expansions going on there.

1,000,000 is possible but not likely in 20-30 years, IMO.

850,000 is more likely within the next 10.

You don't believe we can gain <200,000 people in 20-30 years?

[cajun]

You don't believe we can gain <200,000 people in 20-30 years?

 

Possible but not likely.  

[dan326]

Isn't population growth slowing?

[Antrell Williams]

Isn't population growth slowing?

Compared to which census numbers?

[itsjustme3]

Isn't population growth slowing?

Nope.

[dan326]

I just thought I read somewhere growth was slowing down, like in the since of people being born.

[cajun]

<blockquote class='ipsBlockquote'data-author="dan326" data-cid="1248843" data-time="1355989755"><p>

I just thought I read somewhere growth was slowing down, like in the since of people being born.</p></blockquote>

Like the fertility rate is trending downward? I may have read the same article. I can't find it though.

I think Louisiana as a whole is losing residents or is fairly stagnant.. For every person that moves to south Louisiana, two leave north Louisiana. Katrina shook things up a bit, but maybe we gain a seat back in 2020.

[itsjustme3]

<blockquote class='ipsBlockquote'data-author="cajun" data-cid="1248872" data-time="1356017571"><p>

<blockquote class='ipsBlockquote'data-author="dan326" data-cid="1248843" data-time="1355989755"><p><br />

I just thought I read somewhere growth was slowing down, like in the since of people being born.</p></blockquote><br />

<br />

Like the fertility rate is trending downward? I may have read the same article. I can't find it though. <br />

<br />

I think Louisiana as a whole is losing residents or is fairly stagnant.. For every person that moves to south Louisiana, two leave north Louisiana. Katrina shook things up a bit, but maybe we gain a seat back in 2020.</p></blockquote>

That's not true. Population has grown in the state for the past three years per the last census.

[cajun]

You are right. I just checked the 2010 numbers off the 2000 numbers. It's growing slowly.....not fast enough to keep that last seat though.

I bet Katrina is to blame for some of that.

[itsjustme3]

Probably. I wish the Jindal admin would do a better job of telling/selling the residents of this state how good they have it compared to other states and how many jobs have been brought into this state.

[Antrell Williams]

Probably. I wish the Jindal admin would do a better job of telling/selling the residents of this state how good they have it compared to other states and how many jobs have been brought into this state.

I agree.

[cajun]

Oil and gas is probably going to be a big growth driver in the Lake Charles area and in the region between Baton Rouge and NOLA.

The $16 Billion Sasol development in Lake Charles may end up being the biggest industrial expansion in the state since Standard Oil, possibly the largest ever.

What makes it more impressive is a similar plant is in the works for St James/Ascension parish area near the Nucor plant that is under construction.

I'm very impressed with Louisiana's ability to land these projects in a downturn. Steve Moret from LED has indicated that some of the largest industrial projects in our nation's history will be announced in Louisiana within the next few years.

I really hate to see people lack any pride for their state. Louisiana is worth being proud of right now....Baton Rouge too.

Edited December 21, 2012 by cajun

[richyb83]

Louisiana is making some positive strides...still has a way to go...could be better...but surely could be worse.

 

Baton Rouge shifting commercial corridors continue to trend toward the south...

 

Ethan Allen move just one example of Baton Rouge's changing commercial corridors

Customers looking for bargains are packing the Ethan Allen store on Florida Boulevard near Airline Highway this week, as it is offering deeply discounted prices on its high-end furniture in preparation for its move early next year to a new location. The store, which has occupied the same site for more than 30 years, is moving to a newly renovated building it purchased earlier this year on Perkins Road at Bluebonnet, across from Perkins Rowe. The owners say the long-established business has had continually strong sales. The move across town says a lot about the shifting demographics in Baton Rouge and where retailers perceive the action to be. "You want to be located where your customers shop," says realtor Chad Ortte, adding that Ethan Allen owner Todd Grand spent three years scouting for a new south Baton Rouge location before settling on the strip center he has since purchased and is renovating. "You're going to see a lot more shifts from the Florida/Airline area to Perkins/Bluebonnet/Siegen." Grand settled on the existing strip center for his new store, which previously housed Young Fashions, because he couldn't find a suitable tract of undeveloped land in the area. "Renovations are always harder than building from the ground up," Ortte says. "But we were trying to find good dirt in that area and it just wasn't there." Ortte predicts the old Ethan Allen store will—like many vacant properties and former stores in the Florida/Airline area—eventually be redeveloped for uses other than retail, such as a church or charter school. "We have seen some interest from churches and schools," he says, adding no deals or offers have been made

Read more from Business Report here: http://www.businessreport.com/apps/pbcs.dll/section?category=daily-reportAM&date=20121227#ixzz2GVmYoGy1

[dan326]

Well, I guess that's how life goes, I kinda wish developers would tear down old retail centers and build housing or something....reused/under-used/unused retail buildings, look kinda ...tacky, sometimes.

[all2neat]

Unfortunately, it being an abandoned building isn't going to stick out in that area. There are a ton of abandoned restaurants and retail stores in that area.