The Ivy Park apartments, a luxury apartment complex at 6444 Jones Creek Road, will undergo a $5.84 million addition that will tack on 68,810 square feet and 60 apartments. Ivy Park is owned by Key Real Estate Co., a New Orleans company that owns and manages several upscale apartment complexes throughout south Louisiana and Texas, in conjunction with CR Properties LLC out of Hattiesburg, Mississippi, and AMCAL, a California real estate company.
The companies have owned Ivy Park together since it was constructed in 2007, but are expanding now, because “it’s a good time in the market to do an expansion,” Key CEO TJ Iarocci says. Three new buildings will be constructed between a Regions Bank branch near the complex and the Jones Creek Regional Library.
Iarocci says the companies plan to break ground on the new apartments in the second quarter of 2015 and open by the end of 2015. Lance Malley and Eric Spearman with The Architectural Studio are the architects on the project.
Key’s other Baton Rouge apartment complexes include Camden Lake, Lakeside Villas, Mansions in the Park and Bristol Place. Key is also playing a role in redeveloping the Commerce Building downtown. Led by Iarocci, New Orleans-based firm 5thfloor Company purchased the eight-story, 180,000-square-foot Commerce Building in August 2012 and is spearheading its redevelopment.
A plan review application for the Ivy Park addition was recently filed with the city-parish Department of Public Works. Other projects for which plan review applications have recently been filed include a new gymnasium and covered carpool depot for St. Jean Vianney Catholic Church and School, at 16166 S. Harrell’s Ferry Road. The project will cost $3 million and add 13,940 square feet.
Quarters, the arcade at 4330 Sherwood Forest Blvd. that operates out of a building owned by Commercial Properties Realty Trust, which is the real estate arm of the Baton Rouge Area Foundation, applied for a $250,000 remodel of its bowling, laser tag and arcade areas.
Menzie Manufacturing plans to add 2,440 square feet of office space to its new fabrication shop and showroom at 16575 Commercial Ave., at an estimated cost of $150,000. Finally, RASCO FR Inc., which makes flame retardant clothing, plans to add 20,217 square feet to its 1757 N. Flannery Road facility.