Baton Rouge attorney Randall Champagne figures the Garden District house he bought with his wife in 1994 was a steal compared to property values in the neighborhood today.
“Location, location, location,” Champagne says of the neighborhood’s rising property values. “Its viability is tied inextricably to its proximity to downtown.”
It’s but one reason why the historic Garden District—one of the city’s oldest neighborhoods—has seen steady sales, even as the trends of homebuyers have changed with modern family dynamics and the prices have risen relative to other areas, Business Report details in a recent feature on the neighborhood.
The neighborhood comprises three subdivisions: Roseland Terrace, Drehr Place and Kleinert Terrace. Roseland Terrace is the oldest subdivision and was developed along Park Boulevard and eastward.
When Champagne and his wife first moved into the neighborhood, it was full of people from different social strata, organically encouraged by large, two-story homes being located next to smaller homes and bungalows.
Over the years, however, as homes have been renovated, bungalows expanded and downtown revitalized, Champagne says the rising property prices have dampened the diversity of the neighborhood.
The price per foot for homes in the Garden District has climbed to $186.10 from $181.92 last year, $170.47 in 2015 and $157.78 in 2013.
Average sale prices in the neighborhood, meanwhile, have fluctuated, dropping to $336,927 in 2015 before rising to $358,708 in 2017. This year, 14 homes have been sold in the neighborhood, according to the Greater Baton Rouge Association of Realtors’ Multiple Listing Service, at an average price of $339,379.
The neighborhood is a hotbed of history, with 80% of Garden District homes built before 1930. The oldest—built circa 1890—sits on the corner of Cherokee Street and Park Boulevard.
