Apartments, retail, office planned for Prince Murat site

A proposed 224-unit apartment complex on the former site of the Prince Murat Inn will go before the Planning Commission next week. Humphreys & Partners, a Dallas firm, have submitted plans for the River House development on Nicholson Drive. River House will consist of efficiency, one- and two-bedroom apartments, along with a clubhouse, 15,000 square feet of retail and 34,000 square feet of office space. Over the past few years, there have been several plans to redevelop the Prince Murat site with apartments, offices and retail. But those plans have fallen through because of financing difficulties and zoning problems. Planning Commission staffers have recommended approving the site plan for River House.—Timothy Boone

Perkins Rowe hotel to begin construction by year’s end

Construction is scheduled to begin at the end of the year on a 165-room Hilton Garden Inn in the Perkins Rowe mixed-use development. Plans are to open the hotel by the end of 2010. The hotel will feature 5,000 square feet of meeting space, and amenities such as a full-service restaurant, swimming pool and fitness center. The Hilton Garden Inn Perkins Rowe will be built east of The NeuroMedical Center and north of The Wine Loft and Texas de Brazil. Adding a hotel had been in Perkins Rowe's plans since the early stages. Officials with JTS, the developers of Perkins Rowe, say they plan to start building Phase II in 2010, adding 750,000 square feet of office, retail and residential space.

John Maginnis: Fiscal crisis will be defining drama of session

A recent protest against cuts to state arts funding drew a lot of attention because it involved a jazz funeral procession to the Capitol. But John Maginnis says deep cuts are planned for nearly every department of state government. "How Gov. Bobby Jindal and the Legislature resolve the current fiscal crisis will be the defining drama of the coming legislative session, and the governor's term to date," Maginnis says. And budget issues are only going to get worse in 2011, when federal stimulus money runs out. Read the column here.

(John Maginnis publishes LaPolitics Weekly, a newsletter on Louisiana politics, at LaPolitics.com.)

Blueprint Louisiana adds to agenda

Blueprint Louisiana, a nonpartisan reform group headed by some of the state's top business leaders, is pushing efforts to create a knowledge-based, innovation-driven economy. The group says it will back performance-based funding for higher education, instead of the current formula based on student enrollment and support creation of a Louisiana Research Alliance, which will guide investments toward diversification of the economy. Sean Reilly, chairman of Blueprint Louisiana and COO of Lamar Advertising, says the group supports a phased-in approach for higher education funding reform, to establish changes while recognizing budget cuts.

Businessman pushing 'Buy Local' campaign

Cullen Saucier is trying to generate a grassroots movement for local businesses with a “Keep the Red Stick Strong—Buy Local” campaign. Saucier, an owner of Louisiana Office Supply, recently started distributing a bright red handout with the slogan. He’s hoping to draw more businesses and do more through cooperative advertising. “We want people to buy local and we think it’s right,” he says. “People don’t really understand that money is going out-of-state when they buy at big chains or that the little guy is always battling against the big-box store.”

Saucier says he was thinking about launching the campaign for years, but the tough economy convinced him people would be more receptive to the message now. He says people who have been deferring purchases may be more likely to act on them if they know they’re also helping the area economy and their community. Saucier says local buying is better for the environment since it reduces the carbon footprint.—Anna Thibodeaux

Obama tempers optimism with reality on economy

Aiming to assert control over the nation's economic debate, President Barack Obama warned Americans eager for good news that "by no means are we out of the woods" and argued his broad domestic agenda is the path to recovery. In a speech at Georgetown University, Obama aimed to juggle his recent glass-half-full takes on the economy with a determination to not be stamped as naive in the face lingering problems. Obama summarized actions his administration has taken to steady the limping economy and coupled that with a fresh overview of his domestic goals.

The speech, which key aides had signaled in advance would not contain any major announcements, came as Obama nears his symbolic 100-day mark in office, important because that has become a traditional marker by which to judge new administrations. "There is no doubt that times are still tough," Obama says. "But from where we stand, for the very first time, we are beginning to see glimmers of hope. And beyond that, way off in the distance, we can see a vision of an America's future that is far different than our troubled economic past." Obama's message came on a day of conflicting economic indicators and Federal Reserve Chairman Ben Bernanke's suggestion that the recession may at last be bottoming out.

Real Estate Weekly has news on Trends seminar

The Baton Rouge real estate industry might have hit a slowdown, but interest in the annual Trends Seminar appears to be as high as ever. There's a record number of sponsors for Thursday's event and the crowds are expected to be as large as ever. Read a preview of what will be said at Trends in Real Estate Weekly. Plus, news on a big drop in quarterly home sales, a potential overhaul for the new Main Library branch and the latest columns from Tom Cook and Brian Andrews. Read the newsletter here.

News roundup: AppOne adds Wachovia to business ... B.R. picked for pilot Medicare program

In the family: Wachovia Dealer Services has joined the AppOne platform, allowing the company to finance vehicle sales through independent auto dealers. Wachovia is the nation's fifth largest auto finance company. Baton Rouge-based AppOne works as a bridge between finance companies and independent auto dealers, and the company recently moved into boat sales.

One of 14 cities in study: Baton Rouge has been selected by Medicare as one of 14 cities for a pilot program to reduce unnecessary hospital readmissions, the Miami Herald reports. Medicare officials say nearly one in five elderly patients who leave the hospital are readmitted within a month, and the vast majority of readmissions are potentially preventable. Other cities participating in the pilot program include Miami, Tuscaloosa, Ala., and Omaha, Neb.