Plans for Atwater, an 800-lot subdivision on River Road near L’Auberge Casino, are moving forward. But developer Prescott Bailey won’t break ground on the project this summer or even this year, as originally hoped.
Bailey recently completed engineering plans for the 327-lot first phase of Atwater and submitted them to the city-parish.
But once permits are granted, which can be a lengthy process, Bailey still needs to get permits from the U.S. Army Corps of Engineers and the levee district because of the property’s proximity to the levee.
“Right now we’re in the sit-back-and-wait stage,” Bailey says. “We think right now by the time we get all the permits and approvals it will be early next year to early spring.”
Bailey has already received approval for the project from the Planning Commission and says he has secured financing. He has yet to close on the 275-acre property, which is owned by multiple investors, but says he will do so once permitting is complete. He declines to disclose the purchase price for the property.
The first phase of Atwater will encompass 113 acres, with homes in a variety of price points ranging from the mid-$200,000 to more than $700,000. The development will also include parks, lakes, jogging trails and a variety of amenities. Bailey is talking to several custom and spec builders but yet to name a builder group.
Atwater is the latest of several residential developments in the southeast portion of the parish. Others include Pointe-Marie, Preserve at Harveston and University Club, which is across Nicholson Drive from what will be the rear of Atwater.
