Robert Daigle, a prominent mixed-use developer best known for spearheading The Village at River Ranch in Lafayette, has purchased a 341-acre tract near the intersection of Interstate 10 and La. 44 in Gonzales for another mixed-use project.
The Gonzales tract includes more than 2,000 square feet of frontage on La. 44 and more than 2,500 square feet of frontage on La. 94. Daigle purchased the property through Conway Development LLC, which was represented by Southern Lifestyle Development. The sale closed June 30 for roughly $8.19 million.
“At the sale price of around $24,000 per acre, this looks like an excellent deal for both the purchaser and the seller,” says Gary Bins with Realty Executives of South Louisiana, who was one of three brokers at the firm involved in the transaction, along with Ricky Gateau and Gary Fontenot.
The proposed project will include a variety uses from larger estate homes to more dense commercial use along the road frontage. The project will also improve traffic flow on La. 44 through additional turn lanes and roundabouts, which have proven effective in River Ranch, an award-winning, 320-acre traditional neighborhood development in Lafayette. Engineering and construction drawings are in the process of being completed, and infrastructure construction will begin as soon as possible.
“Originally, the existing residents were not real excited about having a new mixed-use project built off La. 44,” says Bins. “When the first plan was proposed, they had the usual issues with drainage and traffic, but they liked the revised plan by Daigle much better. Some of them that had opposed the original plan of development spoke in favor of the revised plan.”
Appraiser Tom Cook owns Cook Moore and Associates. Reach him at 293-7006 or TCook@cookmoore.com.
