New Apartment Development Underway in Livingston Parish

CST Land Developers, LLC, announced today that construction will begin immediately on The Village at Juban Lakes, a new $13 million luxury apartment development in Livingston Parish.

CST Land Developers closed on the project development with financing from Red Stone Agency Lending, LLC with mortgage insurance from HUD, said Tom Delahaye, managing partner. Principals of CST Land Developers are Delahaye, Stan Baudin, and Chris Coffin, all of Plaquemine. This is the third major project of the firm since it was formed in 2006.

According to the partners, The Village at Juban Lakes, is earmarked for construction on nine acres on Buddy Ellis Road in Denham Springs, which is a part of a 69-acre parcel the partners purchased in July 2006.  The development is located about one mile off the Juban Interstate 12 interchange and will be adjacent to The Crossing Apartments, owned by Tom and Nancy Delahaye, which opened in 2007.   CST Land Developers purchased a 69 acre parcel on the south side of Buddy Ellis Road in July 2006.

Construction of the complex will begin immediately, with an expected completion of the first phase of 144 units by  September 30. The construction contract was awarded to ICI Construction Company, Inc. of Dallas, Texas.

The Village at Juban Lakes will utilize the architectural design of The Reserve at Jefferson Crossing by architect James D. Dodds, AIA, of The Architectural Studio. The Reserve at Jefferson Crossing, an earlier development project of CST is located in Baton Rouge. The Reserve at Jefferson Crossing apartments reached 100% occupancy within six months of opening in East Baton Rouge Parish. It features a 180 unit development at below-market rates, using Go Zone Tax credits and HOME funds.

“This development is a market rate development that will have many unique features in the one, two and three bedroom gated community,” said Delahaye. “The Village will have hardwood floors, garden tubs, crown molding, stainless steel appliances and granite counters,”  said Delahaye. It will also feature garages and carports. All third floor apartments will have vaulted ceilings as a special amenity.

The complex will also have a large swimming pool, volleyball and basketball courts, a fully-equipped fitness center, club house with business center, and walking trails.

Delahaye said that lease rates will be $775 for a 1 bedroom, $885 for a 2 bedroom, and $1030 for a 3 bedroom.

“Red Stone was pleased to assist CST with the financing,” said Steve Wessler, national director of the firm’s HUD platform. “Our underwriting showed there is unmet demand for moderately priced rental housing in the Denham Spring market. The Village at Juban Lakes is projected to compete very favorably with existing product due to its unit and project amenities.”

According to Delahaye, an additional 100 units could be constructed in 2012 on the same property as phase 2 of the development. “Current research demonstrates a high need and demand for luxury apartments in Denham Springs as growth is expected to continue into the coming years,” added Delahaye.

For more information, contact Delahaye at 225-933-3584.v