A Kentucky-based apartment developer has purchased 11.6 acres at Airline Highway and Evangeline Street to building a 192-unit affordable housing complex.
LDG Development of Louisville, Kentucky, acquired the land in two separate purchases that were filed Monday with the East Baton Rouge Clerk of Court’s office. The price for the land was $745,000.
Chris Dischinger, a co-principal with LDG, said work should start “immediately” on the complex, which will be called Port Royal Apartments. Leasing could start in fall 2016, with the complex opening in early 2017.
This will be LDG’s third property in the Baton Rouge market. The company has the 192-unit Mallard Crossing Apartments at 11320 Greenwell Springs Road and the 48-unit Wood Crest Apartments at 1682 North Lobdell. LDG also has the two Muses apartment complexes in New Orleans.
“Baton Rouge is a great market for us,” Dischinger said.