A 20.5-acre site on Ben Hur Road east of Nicholson Drive has been sold for $7 million to an Alabama company that plans to build a student apartment complex.
A company affiliated with Capstone Collegiate Communities, of Birmingham, Alabama, bought the land at 550 Ben Hur. The seller was Asterrone LLC, a Metairie group made up of Price LeBlanc Jr., Clifton LeBlanc, Brent LeBlanc and Charles Bondy. The LeBlancs are the sons of the late auto dealer Price LeBlanc; Bondy is their brother-in-law.
Capstone has said previously it plans to build Arlington Townhomes & Manors, a student housing development with 179 units, with 732 beds, spread across 83 buildings, including cottages, duplexes and townhomes.
Arlington is expected to open by fall 2016, according to the development’s Facebook page. The development was approved earlier this year by the city-parish Planning Commission.
Capstone developed The Cottages of Baton Rouge, a 392-unit housing complex on Ben Hur.
The land sold by Asterrone was part of a 67.8-acre tract the LeBlancs and Bondy acquired in 2013 for $12.8 million.