73°
Baton Rouge, Louisiana
7 Day Forecast
Follow our weather team on social media

Rouzan development purchased, construction to start immediately

3 months 4 days 22 hours ago Friday, January 19 2018 Jan 19, 2018 January 19, 2018 2:41 PM January 19, 2018 in News
Source: WBRZ

BATON ROUGE - Work will start almost immediately on the long-delayed Rouzan development off Perkins Road after a successful acquisition of the all of the property by businessman John Engquist.

A representative confirmed construction crews are ready to move forward - possibly as early as Monday.

Engquist has assigned Baton Rouge attorney and partner Charles Landry to spearhead the development, which plans to sell-off 130 lots by this summer. In addition, planners hope to establish a clubhouse and pool within the year and build office space for operations and lease space.

Work will move quickly to solicit and secure restaurants and retailers for a planned village center, Landry said.

"The best location in Baton Rouge just got incredibly better," Landry added.

Engquist purchased undeveloped land and debt associated with the project from the initial developer, "Tommy" Spinosa.  Spinosa's original plan called for a mixed-use development on the 100-acre land in Southdowns at the corner of Perkins and Glasgow.  Among the myriad of issues was the recent collapse of the bank that was financing Spinosa's project. 

Engquist said his team is ready to move forward.

"I'm incredibly pleased for the opportunity to turn the best piece of property in my hometown into the best mixed use development here," he said in a statement.  "I love Baton Rouge and we'll make people proud to live, play and raise a family in Rouzan." 

The new owners of Rouzan have provided funding to pay 100% of a judge's award and 100% of the construction costs associated with a legal fight between landowners near Rouzan and the development's previous owners over a servitude issue.  

Engquist's residential property deal was for $21 million.  But, the cost of obtaining the commercial property inside the development was not disclosed.  

Engquist and the others involved in the new organization also developed Americana in Zachary. 

******************

Follow the publisher of this post on Twitter: @treyschmaltz

More News

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
Radar
7 Days