New Orleans, Louisiana 2021-10-10 01:15:00 –
Lafayette is the state’s most expensive apartment market
One company reports that Lafayette renters pay the highest monthly rent in Louisiana.
The median rent for a one-bedroom apartment in Lafayette is $ 1,050 per month, and the monthly rent for a two-bedroom unit is $ 1,275, the highest of the five metro markets in the state. Surveyed by apartmentlist.com in September Report..
Rent is up 13.8% compared to a year ago, the highest level in the state.
Prices for Baton Rouge, New Orleans and Shreveport are a bit cheaper. According to the report, the median one bedroom is $ 782 in Shreveport, $ 866 in Boger City, $ 869 in Baton Rouge and $ 989 in New Orleans.
For two bedrooms, the median price is $ 932 for Shreveport, $ 1,043 for Baton Rouge, $ 1,064 for Boger City, and $ 1,156 for New Orleans.
Although month-on-month growth has slowed slightly from its July peak in national markets, rents are still growing much faster than pre-pandemic trends, according to reports. According to the data, the median rent across the country has risen 16.4% since January, four times the average rate of increase over the same period from 2017 to 2019.
Currently, few cities in the United States have lower rents than pre-pandemic rates, the report shows. Conversely, 22 of the country’s largest 100 cities have rents that have increased by more than 25% since the start of the pandemic.
Landing right next to I-49 to feature a smoothie king
The recently sold property near the Carencro exit on Interstate 49 will house a smoothie king and an unannounced retailer.
Youngsville’s Van Alan Holding last month purchased 0.7 acres of land adjacent to the Hector Connolly Road ring road next to the Waffle House. Van Alan Holding Co. According to Van Alan Plaisance, owner of the property, the property will be split into two businesses, with Smoothie King occupying 1,500 square feet of space.
He said the remaining 4,000 square feet would be occupied by tenants that could be announced next week.
Architects Design Studio is designing the project. Construction should begin in the first half of 2022, he said.
There are three Smoothie Kings in Lafayette and three in Brother, Scott and Youngsville.
Local group acquires NM company
A local investment company has acquired two companies in New Mexico in preparation for opening a manufacturing facility in Lafayette that can employ at least 50 people.
Founded by Lafayette and St. Thomas More graduates Jude David, Eric Billet, and Blake David, Kin Capital Partners is two Albuquerque-based companies that supply high-end products for residential and commercial construction. Acquired Santa Feado Store and Enterprise America.
This group will use the acquisition to create Stately Doors & Windows. It remains in Lafayette and specializes in luxury residential doors and windows. The company offers iron, wood and clad doors and windows created by skilled artisans. It will be housed in either a new building or an existing building.
“We are proud to welcome Santa Fe and Enterprise America to the Stately family of brands,” said Jude David. “At Kin Capital, we believe our employees are at the heart of our business and we are excited to welcome them as new members of our family.”
Kin Capital Partners previously acquired Dallas-based Wholesale Iron Doors and Atlanta-based Millwork Components. These have been rebranded as Realwood Crafters. Established a logistics company, Stately Logistics, to expand growth in the Gulf Coast region and process orders in the Southern United States.
The company said it would like to manufacture wood products in the United States and take advantage of local steel workers and manufacturers driven out by the downturn in the oil and gas industry.
1A, APC awarded for OZ initiative
One Acadiana and the Acadiana Planning Commission received two awards from the International Council for Economic Development for “Investing in Acadiana: Regional Opportunity Zone Initiative”.
According to One Acadiana, the report won a gold medal in the Innovation Program and Initiatives category and a bronze award in the category of regionalism and cross-border collaboration. Both attended the awards ceremony at the IEDC Annual Conference.
Invest Acadiana is a joint initiative of 1A and APC aimed at facilitating investment in the Census Zones of the region’s 25 Opportunity Zones.
“The Invest Acadiana initiative has helped to attract huge capital to our town centre and downtown Lafayette, especially the University Avenue Corridor,” said APC CEO Monique Boulet. “Madeline Cove, a $ 15 million multi-purpose development that began in May, is a great example. Designating these census zones as Opportunity Zones makes University Avenue from Four Corners to I-10 more vibrant. A $ 10 million BUILD grant was also supported to rebuild the pedestrian-friendly corridor. The federal grant leveraged an additional $ 20 million in state and local funding, with a total investment of approximately 3,000. I made it a million dollars. “
Other Opportunity Zone projects in the region include the redevelopment of 200 units of University Place Apartments in dormitories ($ 16 million investment), the Keys Behavioral Health Center in New Iberia ($ 18 million), and meat processing at Church Point. Includes factory ($ 3.5 million). ).
Acadiana Briefs for Oct. 10 | Business Source link Acadiana Briefs for Oct. 10 | Business
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