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Apartment Complexes Being Constructed Along Burbank
Posted on 7/24/15 at 9:43 am
Posted on 7/24/15 at 9:43 am
So I have noticed while driving down Burbank the last few days that they are clearing out yet another large plot of forest to make way for what appears to be additional student-oriented housing (there was a sign advertising leasing for fall 2016).
It amazes me how much Baton Rouge is going to royally frick up one of the least-congested stretches of road in the city by cramming an enormous amount of residential property into such a small area. Why not purchase the land for commercial development or recreational purposes? With so many young people living in close proximity, businesses could make a killing at that location.
I know the current intent is to devote a large number of resources into constructing a massive commercial and residential development along Nicholson to link the downtown/LSU corridor, but it seems to me like this is a golden opportunity being wasted.
How much damn student housing does a university with an enrollment of approximately 31,000 need? LSU has already constructed a number of additional dorms during the last several years to accommodate the projected influx of incoming, out-of-state students. So why is there such a need for more housing? Better yet, how is there still a demand?
These are massive complexes being built which will be able house hundreds of students. Plus, most of them are borderline "luxury" apartments. So how the hell can so many college students afford $500+ in rent?
It amazes me how much Baton Rouge is going to royally frick up one of the least-congested stretches of road in the city by cramming an enormous amount of residential property into such a small area. Why not purchase the land for commercial development or recreational purposes? With so many young people living in close proximity, businesses could make a killing at that location.
I know the current intent is to devote a large number of resources into constructing a massive commercial and residential development along Nicholson to link the downtown/LSU corridor, but it seems to me like this is a golden opportunity being wasted.
How much damn student housing does a university with an enrollment of approximately 31,000 need? LSU has already constructed a number of additional dorms during the last several years to accommodate the projected influx of incoming, out-of-state students. So why is there such a need for more housing? Better yet, how is there still a demand?
These are massive complexes being built which will be able house hundreds of students. Plus, most of them are borderline "luxury" apartments. So how the hell can so many college students afford $500+ in rent?
13
Posted on 7/24/15 at 9:47 am to saint amant steve
Will all go to shite/Section-8 in 15-20 years when the north side of campus get cleaned up and becomes the hot spot
Posted on 7/24/15 at 9:49 am to saint amant steve
People smarter than you have determined there's a demand.
College apartments go through a 20-25 year cycle anyways. This is nothing new.
College apartments go through a 20-25 year cycle anyways. This is nothing new.
Posted on 7/24/15 at 9:51 am to saint amant steve
quote:
So how the hell can so many college students afford $500+ in rent?
They can't. Today is a different world, parents pay for anything their "perfect" son/daughter wants.
Posted on 7/24/15 at 9:52 am to Golfer
Smarter or more greedy
Posted on 7/24/15 at 9:53 am to saint amant steve
I saw it yesterday for the first time. I, too, am disappointed that yet another generic Cottages type shite hole will plague the area. Make it stop.
Posted on 7/24/15 at 9:53 am to saint amant steve
I'm pretty sure I've heard stories of students complain about the lack of student housing (at least when I was in college).
Posted on 7/24/15 at 9:59 am to mattz1122
quote:
Smarter or more greedy
Not sure how greed plays into this.
Posted on 7/24/15 at 10:02 am to waiting4saturday
quote:
Will all go to shite/Section-8 in 15-20 years when the north side of campus get cleaned up and becomes the hot spot
Correct. This method of development depresses the shite out of me. There are complexes in Gardere that have no utilities, with squatters living in them. You can bet your arse that is going to happen in other sections of the city in time. What's sad is how god damn predictable the cycle is. Oh well gettin paid gettin laid I guess.
Posted on 7/24/15 at 10:03 am to c on z
quote:
I'm pretty sure I've heard stories of students complain about the lack of student housing (at least when I was in college).
It really is tough out there to find affordable housing in a safe area, especially if your budget is maxed out at $500, including utilities.
Apartments on Burbank aren't just attractive to students, it's a great place to set up for young professionals just out of school.
Posted on 7/24/15 at 10:05 am to waiting4saturday
They really need to control the growth out there. It's going to be Tigerland (in a bad way) within a few decades. It's much easier to handle single family homes and duplexes.
When I was at LSU, their on-campus housing sucked. They need to get their act together.
When I was at LSU, their on-campus housing sucked. They need to get their act together.
This post was edited on 7/24/15 at 10:06 am
Posted on 7/24/15 at 10:10 am to dewster
i sure wouldn't mind investing some of my money into them
Posted on 7/24/15 at 10:11 am to saint amant steve
They likely aren't local developers. Like the cottages and woodlands, they will be built and then occupied. The developer will then look to sell it at a profit. Rinse and repeat all over the country.
The only factor that is worth investing in long term(now and on a large scale) in student housing is location. There will always be something newer. Rarely will anything be closer than the new one "the standard" or anything around chimes on state street area.
The only factor that is worth investing in long term(now and on a large scale) in student housing is location. There will always be something newer. Rarely will anything be closer than the new one "the standard" or anything around chimes on state street area.
This post was edited on 7/24/15 at 10:12 am
Posted on 7/24/15 at 10:15 am to saint amant steve
I find it odd that the locations for LSU students housing require the students to have a car/be dependent on the bus. When I was in college I didn't want to live anywhere where I couldn't both walk to/from class and stumble home from the bars.
Posted on 7/24/15 at 10:22 am to c on z
quote:
I'm pretty sure I've heard stories of students complain about the lack of affordable student housing (at least when I was in college).
I think this is what you meant.
Posted on 7/24/15 at 10:23 am to BRIllini07
quote:
I find it odd that the locations for LSU students housing require the students to have a car/be dependent on the bus. When I was in college I didn't want to live anywhere where I couldn't both walk to/from class and stumble home from the bars.
I agree this is a a problem, but pretty much par for the course at a lot of the SEC schools.
Posted on 7/24/15 at 10:23 am to PhiTiger1764
quote:Supply & demand. LSU doesn't have enough housing for the enrollment it receives every year.
I saw it yesterday for the first time. I, too, am disappointed that yet another generic Cottages type shite hole will plague the area. Make it stop.
Posted on 7/24/15 at 10:39 am to saint amant steve
TOPS is creating a windfall for a lot of students/families.
Middle and upper class families that saved thousands of dollars for college have to spend the money somewhere.
With excess cash on hand, students are moving into these resort-type complexes. If the TOPS bubble were to ever burst, this would become an interesting situation to say the least.
Middle and upper class families that saved thousands of dollars for college have to spend the money somewhere.
With excess cash on hand, students are moving into these resort-type complexes. If the TOPS bubble were to ever burst, this would become an interesting situation to say the least.
This post was edited on 7/24/15 at 10:43 am
Posted on 7/24/15 at 10:47 am to JBeam
quote:
Supply & demand. LSU doesn't have enough housing for the enrollment it receives every year.
Trying to wrap my head around this as there has been 3-4 new complexes put up in the same amount of years. I'm doubtful they are all to capacity.
Posted on 7/24/15 at 10:55 am to mattz1122
quote:
Smarter or more greedy
You don't understand how a small company or partnership of developers who don't give a frick about a community will rush into a hotbed of construction, throw up a neighborhood, apt complex, hotel, collect their return and hit the road?
Very common and profitable when timing is right. The only thing they care about is the timing and not being on the tail end of getting their project finished and occupied.
quote:Wasp Knows whats up. This is exactly it.
They likely aren't local developers. Like the cottages and woodlands, they will be built and then occupied. The developer will then look to sell it at a profit. Rinse and repeat all over the country.
This post was edited on 7/24/15 at 10:56 am
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