We are already on the downside of 2016 and as we all lament about “How quickly the year has gone by!”, we thought it would be the perfect time for a Capital Region market gut check. So, we carved out some time and examined the commercial real estate projects that are currently underway, or those on the radar, that impact the Baton Rouge CRE market.
A great resource for geographical and sector-driven data is the Greater Baton Rouge Business Report’s 2016 Real Estate Report. The 84-page report contains a detailed look into our market containing performance statistics and upcoming projects in single-family, multifamily, office, retail and industrial.
Below we pulled some Capital Region Baton Rouge CRE projects that we found most interesting, but encourage you to view the full report here,
Capital Region Real Estate Projects to Watch
Baton Rouge Health District
More than just a healthcare initiative, the Baton Rouge Health District carries a significant real estate component. From traffic improvements to dozens of acres of CRE development projects including healthcare, residential and retail space, the BRHD will bring comprehensive change to the Capital Region. For more information, and to see the master plan, visit www.brhealthdistrict.com.
River Center Library Branch
We’ve all been waiting a long time time for the new and improved River Center library branch. The plan was first put into motion in 2008 but has since been slow to start due to disagreements over cost and design. Finally approved by the Metro Council in April of this year, construction is set to begin soon with completion slated for late-2018.
Let’s take a look at the numbers of this enormous mixed-use development: $325 million | 1,000 single family homes | 500 apartments | 200,000 RSF of CRE space | 356 acres. Expected to take 8 to 10 years for complete buildout, Phase 1 is already under construction with a slated completion of mid-2017.
Hands down the most active (and promising) area for redevelopment, the Nicholson Corridor has many interesting projects in the pipeline. Probably the most well-known is the Water Campus, a 30-acre riverfront research park. Other notable projects include River House, a mixed-use development, and TramLink BR, a streetcar that would connect LSU and downtown.
Adelia at Old Goodwood, Long Farm, Studio Park, City Farm and 6700 Office Park
For information on these Baton Rouge CRE projects, along with deeper insight into commercial real estate sector performance and activity, view the full 2016 Real Estate Report.
Looking to Buy or Lease Capital Region CRE?
With so much development activity happening in the Baton Rouge commercial real estate market, it’s ripe for investment. Whether you are looking to buy or lease, or even dispose of an asset, the team of experts at SVN|GLL are ready to get you the most value from your investment. Contact one of them today for help getting started.
About Us – The team at SVN | Graham, Langlois & Legendre has over 99-years of combined experience helping clients across the Baton Rouge market get the most value out of their CRE investment. Contact one of our dedicated CRE professionals today with any questions you may have and start seeing the returns in a market that will make sure to give today, tomorrow and for the extended future. To reach us, you can call us at 225.367.1515 or you can send us a message on our website. You can also follow us on Twitter at @svngll or on Facebook.