Visit Baton Rouge closed on a deal for the historic downtown building that will serve as its new headquarters.
The organization bought the property on Lafayette Street near the Hilton and Hotel Indigo from Trahan Properties III LLC for $850,000, according to the agreement filed Thursday with the East Baton Rouge Parish Clerk of Court’s office.
Visit Baton Rouge President and CEO Jill Kidder represented the buyer and Victor Trahan III represented the seller. Trahan Properties purchased the building for $900,000 in 2005.
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VBR signed a purchase agreement in September to buy the building, which has been vacant for decades and is missing a roof.
The group was seeking a new building because it has outgrown its current space on 3rd Street, the organization’s home for nearly 20 years.
The new building is close to double the size of the nearly 7,000-square-foot space on 3rd Street.
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The state bond commission approved VBR’s request last year to seek a $7 million loan to purchase and renovate the building.
VBR told Daily Report in September that the design phase and renovation would begin once the purchase was complete. If all goes as planned, the project will be completed in 2026.
This story was originally published by Daily Report on Feb. 7. To keep up with Baton Rouge business news, subscribe to the free Daily Report e-newsletter here.