{"id":1004050064,"date":"2012-10-19T14:19:55","date_gmt":"2012-10-19T22:19:55","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=75396"},"modified":"2025-02-19T03:45:13","modified_gmt":"2025-02-19T11:45:13","slug":"fairfield-residential-moves-forward-with-29m-project-in-baton-rouge","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/fairfield-residential-moves-forward-with-29m-project-in-baton-rouge\/","title":{"rendered":"Fairfield Residential Moves Forward with $29M Project in Baton Rouge"},"content":{"rendered":"

By Eliza Theiss, Associate Editor<\/p>\n

One of\u00a0most major\u00a0projects proposed for Baton Rouge is moving forward. Irving, Texas-based Fairfield Residential Company LLC’s $29 million student\/multifamily apartment project has received approval from the city-parish Planning Commission, according to a report by The Advocate<\/em>.\"\"<\/a><\/p>\n

Named Fairfield at Baton Rouge, the 898-bed development would take up 40 acres at Burbank Drive and Ben Hur Road, with construction concentrated along Burbank. The 299-unit multifamily project will encompass six buildings containing 36 one-bedroom units, 70 two-bedroom units, 50 three-bedroom unit and 117 four-bedroom units, as well as 26 townhomes on 40 acres. Amenities include a clubhouse, fitness center, cyber caf\u00e9, courtyards and cabanas. 1,020 parking spaces will service the development. Two acres on the southern corner of Burbank and Ben Hur will be saved for future retail projects.<\/p>\n

Eighty-two of the entire\u00a0124-acres site will be kept free of development and will feature only walking trails. Due to 10 acres of wetlands contained in the project, conservation groups have opposed Fairfield at Baton Rouge. Groundbreaking is set for later this year, with phase one slated to open in August 2014, and phase two the following year.<\/p>\n

In other news, Emerson Electric Co. has announced its intention to develop a 105,000-square-foot facility in Gonzales. The $10 million project will establish the new regional headquarters of Emerson Process Management, a division of Emerson Electric.<\/p>\n

The facility is to be located on a 19-acre site, which the company has already \"\"<\/a>purchased. The new headquarters will\u00a0consolidate the company\u2019s regional manufacturing, training, engineering, sales and service operations. The state-of-the-art development will retain the 125 jobs at its existing operations and create 50 new ones with annual salaries of $49,000 plus benefits. Additionally, 28 new indirect jobs will be created, as well as 75 temporary construction jobs.<\/p>\n

The state offered Emerson a Modernization Tax Credit of $375,000, payable over five years. The company will most likely also make use of \u00a0Louisiana’s Quality Jobs and Industrial Tax Exemption incentive programs. Emerson will also profit from specially negotiated sales tax incentives from the City of Gonzales, Ascension Parish and the Ascension Economic Development Corp.<\/p>\n

“This expansion will give our citizens the opportunity to work for a first-class, Fortune 500 company and it will give our schools the opportunity to use a $1 million training facility to train the workforce of the future in the latest technology,” stated Gonzales Mayor Barney Arceneaux in a press release.<\/p>\n

Photo credit: Emerson Process Management\u2019s Facebook page<\/em><\/p>\n

Chart courtesy of Hendricks & Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

One of most major projects proposed for Baton Rouge is moving forward. 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