Posts Tagged: New Construction Near LSU

What’s being built by the LSU North Gates?

Published: February 27, 2018

Filed Under: Market Trends, Real Estate Investing

Have you seen all the new construction just a little bit north of the LSU campus?

Yes, I said north … not south.  If you drive up there you will see new building after new building being built.  My husband came home the other day and said, “What is that?”

Well, it’s LSU’s Nicholson Gateway Development.  It’s 28 acres that will include apartment homes for upperclass men and women as well as graduate students.  It also includes rec space, retail space, parking, and the LSU Foundation offices.  The project is funded jointly by the LSU Property Foundation and private developers.

 

LSU's Nicholson Gateway Development

 

You’d think with all the new rental construction going on south of the LSU campus that we wouldn’t need anymore student housing.  And, if you own a townhome or a condo nearby that your children live in while attending LSU you’ve got to be wondering what impact all this will have on your property values.

During the past few years we’ve seen new construction at The Cottages (now The Lodges at 777), The Exchange, Arlington Cottages and Townhomes, Wildwood, The Woodlands, Sterling Burbank and I’m sure I’ve left out a few.  Not surprisingly, it’s about the money and what it costs to send your child to LSU.

 

Previously Owned Townhomes and Condos Near LSU

 

The graph above includes all attached home sales (condos, townhomes, and duplexes) in MLS area 52 that were previously owned, i.e., not new construction.  I decided to eliminate new construction from this analysis because it really is very different from the inventory of existing homes.  Including those homes in the year they were introduced really screws these numbers.

What you see is that after Katrina we had a run up in the cost of condos, townhomes, and duplexes in the area.  Some of that was speculative, and some was just a concern about having a place to go if you lived in New Orleans and a major hurricane was on it’s way.  But around 2008 our market started to shift.  There are a number of factors that contributed to this, and honestly, these averages smooth the losses in value in some student-centric neighborhoods near LSU.

When you combine the post-post Katrina effect of New Orleans residents returning home, with the problems the US economy was experiencing in 2008 – 2011, it’s not surprising that parents were not too keen on buying property for their children.  Having worked with many parents during those years what I heard was,

“When the stock market looses that much value, you just don’t feel as comfortable buying a second home for your kids.”

What changed?

In 2011 The Cottages of Baton Rouge opened.  They were nice.  They were new.  And they were expensive.  As more and more new apartments were built, with rents around $700- $800/month per student for a 2 bedroom apartment and $600 – $700/month per student for a 3 bedroom apartment, the surrounding existing inventory started to once again become attractive.

Nicholson Gateway Apartments

A 2 bedroom/2 bath apartment at LSU’s new Nicholson Gateway Apartments will cost you $4,940/semester per student.  That’s $9,960 for two semesters, and if you stay for the summer months it’s an additional $2,470.  So that’s a little more than $1,000/month!

Click here for a link to the fee schedule. That’s pretty swank for a college kid.  I have no doubt they will be very nice and a needed and welcome addition to the north side of the campus.  For most of the parents I work with, however, they’re still going to be interested in some lower cost alternatives on the south side of the campus.

New Construction at Stonelake Village Near LSU

Published: October 5, 2017

Filed Under: New Construction

Lancaster Construction just announced that they are about to break ground on some new townhomes located near LSU.  When on Burbank, go to the entrance to Pelican Lakes.  These homes are located between the existing townhomes and the single family homes being built by DR Horton.

The new homes at Stonelake Village are townhomes, not condos, so you own the land and will be able to get traditional conventional financing.  That’s important because it means that you can buy one of these homes with as little as 3% or 5% down and use any lender you choose.  Two and 3 bedroom floorplans are available, and amenities include granite counter tops, stainless appliances, all laminate flooring (no carpet), custom cabinets and 9 ft. ceilings.  These homes will be ready in the Spring, in time for the August 2018 academic semester.  Give me a call for more details.  To see what’s available go to Stonelake Village on HeleneKurtz.com

Related content:  Buying New Construction.

Willows at Bayou Fountain from Alvarez Construction

Published: September 14, 2017

Filed Under: New Construction

Alvarez Construction has recently announced plans to build 102 homes at Willows at Bayou Fountain, a new community located off Burbank Drive and Siegen Lane.  The neighborhood will feature a central lake, reclaimed brick exteriors, architectural shingle roofs, sidewalks, and neighborhood green spaces.  There are 20 floor plans, some with 3 and some with 4 bedrooms, ranging in size between 1,809 sq. ft. and 2,246 sq. ft. of living space.  Construction is planned to begin by the end of 2017.  Check back for listings as soon as they become available or call me for details so you can be one of the first to own one of these fine homes:  (225) 772-8709.

Looking for new construction near LSU?  Visit www.HeleneKurtz.com/homes-near-LSU.

Related content:  Buying New Construction.

Lake Villas: More new construction near LSU

Published: September 13, 2017

Filed Under: New Construction

Lake Villas is a new DSLD community off Ben Hur Road, near the intersection of Burbank and W. Lee Drive.  Three and 4 bedroom homes will be built ranging in size from 1,538 sq. ft – 2,397 sq. ft. of living space.  All the upgrades will be “standard” features in these new homes, so expect to find some nice bells and whistles!  And, I’m told that if you use DSLD mortgage and DSLD title, the builder will contribute $5,000 towards your closing costs.  Construction starts Fall/Winter 2017 with homes becoming available in Spring 2018.  Check back for listings as soon as they become available or call me for details so you can be one of the first to own one of these fine homes:  (225) 772-8709.

Looking for new construction near LSU?  Visit www.HeleneKurtz.com/homes-near-LSU.

Related content:  Buying New Construction.