$28 Million Apartment Community Construction to Begin January 4
Livingston Parish will be the site of a new $28 million apartment community developed by CST Land Developers, LLC, a division of CST Multifamily Real Estate Services, LLC. The new apartment community, comprised of 132 one-, two-, three- and four-bedroom apartments, is earmarked to begin construction on January 4 for completion in the spring of 2022. Leasing will begin in November 2021.
“The Reserve at Juban Lakes has been a focus of our firm for the past six months after receiving a June 2020 funding award from the Louisiana Housing Corporation (LHC) for an apartment community that is specifically designed for resiliency in areas that were greatly impacted by the 2016 floods,” said Tom Delahaye, President/CEO, CST Multifamily Real Estate Services.
Delahaye and partners, Stan Baudin of Plaquemine and Chris Coffin of New Orleans, began developing a 70-acre Livingston Parish site on Buddy Ellis Road in 2006. CST Land Developers captured a Good Growth Award in 2018 for their Livingston Parish luxury development, The Palms at Juban Lakes.
Delahaye reported the new $28 million development has been funded by PNC Bank, N.A. with $6.86 million in tax credit equity, CBRE Capital Markets providing $11.6 million in permanent financing. The Louisiana Housing Corporation awarded the property $9.065 million Community Development Block Grant funds and $500,000 in National Housing Trust Funds.
“We are proud of our ability to cultivate partnerships, drive resources, and respond to the needs of our communities,” said LHC Executive Director E. Keith Cunningham, Jr. “Approval and development of the Juban Lakes project could not have been possible without this unique public-private partnership. Working with entities like the Louisiana Office of Community Development and others demonstrates the priority we have placed on providing resilient housing opportunities for Louisiana families.”
The Reserve at Juban Lakes has been designed by Lance Malley, AIA Architect, The Architectural Studio of Baton Rouge. Benchmark Group LLC is providing civil engineering and Block Construction, LLC, is the construction contractor.
Since the formation of CST Land Developers in 2006, the firm has completed five apartment developments. CST has begun construction on three apartment complexes in 2020. In addition to The Reserve at Juban Lakes, The Palms at Sunset Lakes (144 units in Zachary) and Morningside at Juban Lakes (120 senior units in Denham Springs) are currently under construction. CST Land Developers has also developed The Crossing Apartments, The Reserve at Jefferson Crossing, The Palms at Juban Lakes and The Village at Juban Lakes, all located in the Baton Rouge region; and, Sonoma Palms Apartments located in Las Cruces, New Mexico. The Village at Juban Lakes was sold in 2016. The Reserve at Juban Lakes will bring CST’s ownership to approximately 1048 units with an anticipated additional 168 units in the metro Baton Rouge market to be completed by December 2022.
The Reserve at Juban Lakes has many special features for families including a fitness center with lifestyle programming, arts and crafts room, entertainment room, pool, dog park, clubhouse and stainless-steel appliances. The apartments have been designed with unique architectural details for maximum mobility and optimal energy efficiency.
The lease rates will be $770 for a one bedroom, $1,180.00 for a two bedroom, $1,193 for a three bedroom and $1,485 for a four bedroom.
For more information, contact Delahaye at 225-427-8455.