Despite rising vacancy rates for student housing near LSU, residential investors are still looking at the Baton Rouge student market for new properties.
Dallas-based Fountain Residential Partners, which specializes in luxury student housing, is planning a complex at the corner of Gourrier Avenue and W. Parker Boulevard, near LSU’s South Gates. Plans and a request to rezone the property were submitted to the city-parish and will be considered by the Planning Commission on July 15.
The 132-unit Vue on Parker will be located on 1.3 acres and feature a parking structure, according to submitted plans. The development will be designed by the Duplantis Design Group.
Other Vue-branded properties by Fountain Residential Partners are located near the University of Houston and Texas Christian University.
Amid a wealth of new construction the last few years, the LSU student housing market is currently struggling to absorb new units. Newer, generally higher-end student housing complexes near LSU were approaching 19% vacancy rates, as of April. More than 720 units have been built in the South Gates area since 2015, according to a planning staff report.