A 75-unit apartment complex in north Baton Rouge has been sold for $800,00 to PF Developers LLC, a Brooklyn-based company that became involved in the New Orleans real estate market following Hurricane Katrina.
The Palms at McClelland Apartments, a four-story complex situated on 2.83-acres at 5665 McClelland Drive, near the intersection of Greenwell Street and Airline Highway, was sold by Atlanta-based Judge Holdings LLC, managed by Paul Qantas Judge, according to records filed with the East Baton Rouge Clerk of Court.
The complex includes one-, two- and three-bedroom units, and totals roughly 72,000 square feet.
PF Developers declined to comment on the purchase or the company’s plans for the complex. According to an appraisal of the property conducted last year, 21 of the 75 units were uninhabitable at that time and needed an estimated $625,000 in renovations.
Any changes to the use, number, size or configuration of the units first must receive approval from the U.S. Department of Housing and Urban Development, the appraisal says, due to an affordable housing agreement. The building is zoned B-1, which does allow for limited, light commercial use.
Meanwhile, another recent property sale of note is the purchase of more than three acres of land on Jones Creek Road by Bardwell Homes, which paid Bruce and Dianna Wilbur $637,500 for the land. That purchase, coupled with another in late November, brings Bardwell Homes’ holdings in the area to more than seven acres. The site is adjacent to Woodlawn Middle School.
Scott Bardwell says the company has no immediate plans to develop the land, but the site has potential for an elderly or multifamily development. Current zoning allows for construction of 119 residential units.
—Kelly Connelly
