Work set to begin on Goodwood townhomes

Construction is set to begin within a month on the first townhomes in Madison Square, a development at the intersection of Goodwood Boulevard and Lobdell Avenue. Jerry Del Rio, who is marketing the property, says the townhomes will sell for between $445,000 and $525,000. “This is going to be an upscale complex,” says Del Rio. “It will be a winner because of the location.” The townhomes will range in size between nearly 2,000- to 2,343-square-feet and feature amenities such as high ceilings, ceramic tile and crown molding. Rick Cappo bought the 3.8-acre tract in August 2007, one of the few prime undeveloped areas of land in the middle of Baton Rouge. But Cappo’s plans to build condos on the site ran into trouble with financing, says Del Rio. The key to getting financing was converting the project to townhomes, so people could own the property. Plans are to eventually build 43 units in Madison Square. “We’re working on presales now,” says Del Rio.—Timothy Boone