Baton Rouge-based Investar Bank is launching a unique program aimed at increasing homeownership in north Baton Rouge, with the company buying up the first set of lots this week.
CEO John D’Angelo, who founded Investar in 2006 and took the holding firm public in 2014, says the new initiative is in its early phases, but was driven by Mayor Sharon Weston Broome’s “challenge and commitment” to promoting economic development in north Baton Rouge, historically an underserved area.
“We contemplated many approaches, but they all fell short of making a significant impact on our community or truly involving residents of north Baton Rouge,” D’Angelo says in an email. “Money alone does not lead to economic development that can move past a one-time contribution or grow into a thriving community. Our goal was to reinvent the way a bank could drive economic development in north Baton Rouge.”