Vertical construction on the River House, a mixed-use development at 1480 Nicholson Drive on the site of the old Prince Murat Hotel, could begin as soon as this week, provided the weather cooperates. Developers Emanuel “Manny” Organek and Marc Blumberg broke ground on the project last August, and they say their construction crew is nearly complete with infrastructure work.
“As soon as the ground dries out, maybe this week, they will start doing paving and foundation for all the buildings,” Blumberg says. “I would suspect if everything stays dry it will be out of the ground within a month.”
Plans for The River House include 224 apartments, within two four-story buildings, a 4,600-square-foot community clubhouse, 15,000 square feet of retail space and a 34,000-square-foot office building.
The River House is not to be confused with the River District, a much larger mixed-use development also planned for Nicholson Drive. The developer of that project, Lafayette businessman Michael Moreno, was dealt a blow last summer when lenders sued him for defaulting on a $58 million loan and filed a motion to seize his River District property. The case is tied up in federal court, with no immediate resolution in sight.
Blumberg says he has no update on what might be happening with the nearby property, but he remains optimistic about other recent developments in the vicinity of River House. Construction is now underway on three buildings on the Water Campus, and the LSU Foundation recently selected a developer to do a mixed-use development outside the south gates of the LSU campus.
“I think the market has continued to improve,” Blumberg says. “With the Water Campus going in there is nothing but favorable indications, and we’ve had very strong interest in the commercial and office side.”
The River House has been in the works for more than seven years. It was originally approved by the city-parish Planning Commission in 2009 but was delayed because of the recession and, more recently, a change in the financing plan for the project.
—Stephanie Riegel
