Construction should start in two weeks on Beauregard Quarters, a 25-unit gated apartment complex at Napoleon and America streets.
Developer Steve Duplechain told the Downtown Development District Commission on Tuesday it will take about 12 to 14 months to complete the four-story complex, which will be behind The Prince apartments on North Boulevard. The complex will feature amenities such as enclosed garages and gated parking on-site. Rents in Beauregard Quarters will be in proportion with the new apartments that have been built downtown over the past year or so, Duplechain said. The goal is to attract young professionals who work in or near downtown with the convenient location and range of amenities.
Beauregard Quarters was proposed in summer 2014. A redesign of the exterior to better fit with the surrounding homes in Beauregard Town has raised the price tag for the development to significantly more than the original $3 million price tag, Duplechain said.
In other business, the DDD’s proposed operating budget for 2016 was introduced. It will be voted on at the Dec. 8 meeting. The budget for 2016 is $656,360, a 2.4 percent increase over the current $641,150 budget. Davis Rhorer, DDD executive director, said the budget increase reflects rising tax revenue for the organization through the dedicated downtown property tax.
The new budget concentrates on several areas, such as improving public safety by increasing the number of bike patrol officers downtown on nights and weekends, pursuing an aggressive public relations campaign to promote downtown as a financial, commercial and government center, and fostering economic development by nurturing public/private partnerships.
The biggest expenses deal with the salaries and benefits for the five full-time DDD employees, which will account for $539,150.
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