The developers of The Heron multifamily development on Convention Street are planning to build a new apartment building across the street.
New Orleans-based developer Key Real Estate bought the former Baton Rouge Bank building facing North Street earlier this year and has been granted approval to demolish the building, which has been vacant for years, according to Casey Tate, assistant executive director of the Downtown Development District.
There’s currently no timeline set for the project, which is still being designed. The developers plan to build at least 200 residential units and the apartment building will face North Boulevard, Tate says
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“This project will bring more infill residential to downtown,” Tate says. “The downtown market is so high right now. Most complexes are at capacity or are nearly fully leased.”
Downtown has seen a wealth of residential development in the area in the past decade. Nearly 1,000 apartment units were added to the market from 2010 to 2019, according to DDD’s developer tool kit. DDD is working to update the tool kit this summer with updated apartment figures for downtown.
This story originally appeared in a June 16 issue of Daily Report. To keep up with Baton Rouge business and politics, subscribe to the free Daily Report e-newsletter here.