Coming before the Planning Commission tonight is a proposed 192-unit apartment complex in the Howell Place subdivision, which, if approved, could mark the first Opportunity Zone deal to close in Louisiana.
Kentucky-based LDG Development in early December submitted a proposal for the Harding Place Apartments, which would be located in Richard Preis’ north Baton Rouge development on the west side of Plank Road, just south of Harding Boulevard.
The 12.1-acre tract of land is in one of the 150 recently identified certified Opportunity Zones in the state. If the Planning Commission approves LDG’s request, it could be the first Louisiana deal to close that involves the newly implemented tax incentive program, says Preis of Maxco Development, which owns and manages Howell Place.
The complex would include eight apartment buildings and one clubhouse, collectively comprising some 94,000 square feet of space. Each apartment building would feature 12 two-bedroom units and 12 three-bedroom units.
The gated development would also include a playground, gazebos and a nearby Capital Area Transit System bus shelter.
“The residential component has historically been the lacking part of north Baton Rouge,” Preis says. “This will fill in a void in the northern part of the parish.”
Since he began developing in north Baton Rouge in the late 1990s, Preis says he has been approached by various apartment builders, but “could never get comfortable with any of them” until LDG came to him about a year ago.
The company has built affordable housing developments for 20 years and owns some 10,000 apartment units across the southeastern United States.
The commission meets at 5 p.m. at City Hall, 222 St. Louis St. See the full agenda.