A local development company purchased Goodwood Plantation for $8.5 million in a deal that closed Wednesday.

Adelia Development Co. LLC bought the 16.8-acre site at 7307 Goodwood Blvd. from Thomas Augustin Babin and Anna Babin Neal, according to documents filed with the East Baton Rouge Clerk of Court’s office.

Michael Hogstrom announced in October he had a deal in place to buy the antebellum home and the surrounding acres from the Babin family. Hogstrom plans to build Adelia at Old Goodwood, an upscale gated development on the land surrounding the home. More than $1 million will be spent to renovate and preserve the home, making it a clubhouse for Adelia residents.

The Planning Commission is set to vote on plans for Adelia at its March 21 meeting. Hogstrom is proposing to build 46 homes on the site, with prices starting in the $750,000 range. As of early February, 33 of the lots have been reserved.

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