Two developments along River Road—Cheval Point and Pointe-Marie—are seeing progress on single-family residential construction and related projects, with developers saying there’s pent-up demand for the area.
The heightened activity comes some seven months after plans for Atwater, a 250-acre residential development that would’ve joined the River Road mix, fell through for unclear reasons.
After years of delays, the Cheval Point subdivision is going vertical, with its first filing of homes underway. A cluster of three homes is almost complete, while another couple of small groupings are slated to break ground in August and September. The neighborhood is just south of Farr Park and stretches back to the River Bend subdivision.
The first home will likely be occupied in early September, says developer Wesley Daniel. While it’s currently the only pending sale on the books, Daniel says Cheval Point is drawing interest from several real estate agents, who are beginning to market homes in the neighborhood.
“The market seems to still be buying houses, so we’ll continue to build more,” says Daniel, who’s also constructing a subdivision entrance. “We have to make more people aware of the fact there’s a good opportunity out there on River Road, especially with all the recreational activity that’s happening now on the levee.”
Plans for the first filing include the completion of 100 of 172 proposed lots. Homes will measure a minimum of 2,000 square feet, with larger homes at the entrance of the subdivision, and be priced at $370,000 and above. Eventually, a community pavilion featuring an exercise area, barbecue pit and playground will be built.
Daniel, along with David Law and Clayton Mitchell, bought the 57 acres for $3.8 million in late 2014, taking it over from David and Terry Hebert’s Cheval Point Corp., which had acquired the land in 2010 for slightly more than $2 million.
Further down River Road, Pointe-Marie, located just west of L’Auberge Casino and Hotel, has broken ground on its Village Center Pool, joining the completed Pointe-Marie Playground, Dog Park and Blouin’s Cafe as one of several community gathering spots planned for the 120-acre mixed-use development.
“There are seven homes under construction,” says developer Rhaoul Guillaume, “along with seven townhomes and eight custom homes in various stages of design, permitting or financing that are expected to start construction later this year.”
Excluding the seven townhome lots, Guillaume says more than 60 residential lots have been sold so far.