Developer Arthur Lancaster has purchased the 62-lot residential development planned near LSU, at Ben Hur Road and Nicholson Drive, for $1.2 million.
Lancaster purchased the 6.6-acre property through Tigerbend Trails Development LLC, from Hunter “Terry” White III, a co-owner of Brennan’s in New Orleans, operating as University PUD LLC. The deal was filed Friday.
Some 60% of the development, to be called Creekside Cottages, is located within a flood zone, according to a staff report from the Planning Department, which will require developers to raise the housing units in the zone above base flood elevations. The staff recommended the plan be approved “based on a change in market conditions,” but didn’t specify what would need to change.
Creekside Cottages will consist of semi-detached houses and was approved by the Planning Commission and Metro Council in September. The commission rezoned the land from office to compact neighborhood use in August.
