Work on The Elias, a 26-unit apartment building going up in Beauregard Town, is expected to wrap up at the end of this month or in early May at the latest.
The $3.5 million, four-story development—initially called Beauregard Quarters—is located at the corner of Napoleon and America streets. The complex joins a growing number of multifamily developments that are attracting a mix of young professionals and empty nesters to downtown Baton Rouge, like The Lofts @ 6C, a 142-unit complex that will open by late summer.
Chad Rigby, one of The Elias’ developers, says interior finishes are underway.
The building will include one-, two- and three-bedroom apartments ranging from 945 to 1,379 square feet. Monthly rents for one-bedroom apartments will start at $1,500, while three-bedroom apartments will rent for $2,800.
Rigby says he has received numerous calls from prospective tenants. “We have been trying to hold off the demand right now until we knew when it was going to be completed and built,” he says, noting an occupancy permit still needs to be obtained.
Work began on The Elias in 2016 and was initially expected to take a year, but was delayed by weather and the August 2016 flood. Once on track, the developers aimed to finish the construction work during the first quarter of this year. The winter freezes in January impacted the project but did not cause significant delays, Rigby says.
The developers bought the site—made up of three adjoining tracts and 192 feet of frontage on Napoleon and America streets—for $550,000 in 2014.
