Alabama company building apartments
An Alabama real estate group hopes to break ground in the coming months on a 51-unit, three-story senior apartments building near the Acadiana Mall.
Morrow Companies of Tuscaloosa got plat approval from the city planning commission on a 3.3-acre lot in the southern corner of the property around the mall at 104 Global Circle. Company President David Morrow said the development, to be called Villas of Lafayette, will be open to residents ages 55 and up earning 60% or less of the area median income. It will help fill a void in the market for senior housing, he said.
The company has similar high-density developments in smaller markets in Louisiana, including Jeanerette, Erath and Mamou. It also owns the Somerset Apartments in Youngsville.
The project will be its 27th senior community development.
“We’ve done a study for it,” Morrow said. “We’ve been talking about it for maybe 15-20 years, about the aging population. It’s quickly come upon us. I don’t think there’s going to be enough to service and house those that are aging, especially when you get into the metropolitan areas where the costs of housing are higher.”
The building will include one- and two-bedroom units, along with a clubhouse, library, fitness center, laundromat and an outdoor walking trail, Morrow said. The owners will also set aside a few units for veterans. It will have 15 one-bedroom units and 36 two-bedroom units.
The company hopes to break ground on the project in September or October, once its goes through planning and permitting, he said. Construction should take 12-15 months.
Jos. A. Bank store closing in River Ranch
The Jos. A. Bank men's clothing store in River Ranch will close as part of parent company Tailored Brands' Chapter 11 bankruptcy plans to close 500 stores.
The company, which also owns the Men's Wearhouse chain, filed bankruptcy last weekend and plans to eliminate 20% of its corporate positions by the end of the second quarter. It had about 19,300 employees and 1,274 stores as of Feb. 1, according to USA Today.
The store at 1900 Kaliste Saloom Road, Suite 200, has been removed from its website. It's the only Louisiana store the company plans to close, reports indicate.
The Acadiana Mall store has reopened its 5,818-square-foot Men's Wearhouse store near Macy's since the coronavirus shutdown, mall manager Nikki Nugier said.