Baton Rouge-based Alvarez Construction bought 80 lots for the first phase of Woodstock Park subdivision from Baton Rouge developers Windy Gladney and Doug Olinde in a deal that closed Wednesday.
The selling price was not disclosed, but Gladney and Olinde bought the 53-acre property from BREC for $4.6 million in December 2019. BREC, at the time, was leasing it as farmland.
Alvarez plans to purchase 70 more lots from the developers in September for a second phase and the remaining lots in mid-2022 for the third, and final, phase of the development.
Alvarez Construction eventually plans to build 213 homes on the property, located off of Nicholson Drive. Construction on the homes, which begin at 1,861 square feet and will range from 3-to-5 bedrooms, is slated to begin in two weeks.
Alvarez Construction’s website lists the starting price for the homes at $349,990. The neighborhood will also include a lake as well as a community pool.