An extended-stay hotel on Corporate Boulevard has been sold for $3.2 million to local investors who plan to convert the property into apartments.
5522 Baton Rouge Hotel LLC, a New York-based group, sold the Cloverleaf Suites at 5522 Corporate to Cottages at Corporate BR Owner LLC in a deal that was filed Friday with the East Baton Rouge Clerk of Court’s office.
Lacy Howe and Brett Sides are listed as the registered agents for Cottages at Corporate.
The Cloverleaf Suites were an 80-unit extended-stay hotel that opened in 1984.
Work is underway to turn the hotel rooms into 80 apartments, Howe said. "They were already corporate apartments with full kitchens and baths," he said. There will be light upgrades, mainly adding sprinklers and closet space.
The rental rates for the new apartments has yet to be determined, but Howe said they will be market rate and "reasonably priced". The plan is to start leasing the units in early 2020.
The apartments will target young people who want to live in the middle of Baton Rouge. "You've got nice amenities around there," Howe said.