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Message
BR River District property taken over by the lender.
Posted on 2/16/17 at 4:16 pm
Posted on 2/16/17 at 4:16 pm
quote:
In a move that has been anticipated for months, Goldman Sachs has taken back the nearly 30 acres of property along Nicholson Drive that Lafayette oilman Michael Moreno and his sister, Dalis Waguespack, had hoped to turn into a mixed-use development called the River District.
Interesting to see a local developer poo pooing the property, and pointing out that its not LSU and its not Downtown, but it needs a Tram.
quote:
Developer Mike Wampold, who is “not interested, though curious” about the property, says given all the recent multifamily developments in the area, it could be a tough sell.
“It’s not LSU and it’s not downtown and there’s no tram (along Nicholson Drive) there yet, so what are you going to put there, more apartments?” Wampold says. “Do you really need them?”
Does BR need to spend tens of millions of dollars so the bank won't lose their shirts? Would the Tram resurrect this failed development? Is anyone going to do anything with all that vacant land or will the bank have to sell it in bits and pieces?
Stay tuned, but the city fathers want that Tram no matter what.
LINK
This post was edited on 2/16/17 at 4:18 pm
6
Posted on 2/16/17 at 4:19 pm to doubleb
quote:
Interesting to see a local developer poo pooing the property, and pointing out that its not LSU and its not Downtown, but it needs a Tram
Why?
What does a tram do that uber can't?
Posted on 2/16/17 at 4:20 pm to doubleb
The Tram is waiting on the development.
The development is waiting on the Tram.
Classic BR
The development is waiting on the Tram.
Classic BR
Posted on 2/16/17 at 4:20 pm to doubleb
quote:
“It’s not LSU and it’s not downtown
but its right in the middle of both which makes it a great residential area for both students and faculty at LSU and people who work downtown
Posted on 2/16/17 at 4:23 pm to doubleb
quote:
“not interested, though curious”
#alternativefacts
Posted on 2/16/17 at 4:24 pm to Brosef Stalin
It's only like a 3 mile stretch too. Make it walkable and design around ride sharing, a tram would get used 8 days a year if it were to ever get built.
Posted on 2/16/17 at 4:25 pm to doubleb
I'm hoping that once a good bit of the Water Campus is developed, the tram project will start to kick into high gear, therefore, the "River District," or whatever they may call it, will follow.
Another problem is that there is a ghetto across the street from all of this land. That needs to be dealt with too at some point in the near future.
Another problem is that there is a ghetto across the street from all of this land. That needs to be dealt with too at some point in the near future.
Posted on 2/16/17 at 4:26 pm to Brosef Stalin
Drive around LSU and tell me whether or not there are enough apartments and condos. They don't need more.
So that means houses, and who wants to buy a nice house less than a quarter of a mile from a huge area of urban decay, a RR in your back yard, and a state highway in your front yard?
IMHO, one of these days and not anytime soon, there will be office building, commercial building, etc. there and possibly later some condos or apartments.
So that means houses, and who wants to buy a nice house less than a quarter of a mile from a huge area of urban decay, a RR in your back yard, and a state highway in your front yard?
IMHO, one of these days and not anytime soon, there will be office building, commercial building, etc. there and possibly later some condos or apartments.
Posted on 2/16/17 at 4:28 pm to MettShow69
The Water Campus is well underway. Let's see how it does. Then let's see if the demand for more of the same comes. Office space, some commercial and more apartments.
Posted on 2/16/17 at 4:29 pm to Dire Wolf
quote:
a tram would get used 8 days a year if it were to ever get built.
you're probably right. There needs to be more going on in downtown for that tram to actually be very beneficial throughout a whole year. But for right now, it really wouldn't serve much purpose, especially for LSU students.
Posted on 2/16/17 at 4:59 pm to doubleb
The tram would be the most pointless project the city has ever spent money on. It would only be used for football games and a few random events like the spanish town parade. Lsu students live near lsu and they almost never go downtown. Most people who work downtown, don't live right next to tiger stadium, so why would they ever take a tram to work.
Posted on 2/16/17 at 5:15 pm to T
Actually, I would be very much in favor of some sort of transportation between LSU/Tigerland and downtown. This would continue the development of downtown, provide more upscale entertainment for students (e.g. attract better/richer/higher achieving students), and continue the gentrification of that corridor.
It doesn't have to be a $10M tram though -- a trolley system would be fine. Heck, just use the trolleys that our retarded CATS system wasted so much money on.
It doesn't have to be a $10M tram though -- a trolley system would be fine. Heck, just use the trolleys that our retarded CATS system wasted so much money on.
Posted on 2/16/17 at 5:23 pm to Brosef Stalin
quote:
It’s not LSU and it’s not downtown but its right in the middle of both which makes it a great residential area for both students and faculty at LSU and people who work downtown
Yes, but developing it into a high end mixed use neighborhood would involve having politicians, developers, and money people with vision and foresight. who can work together, and who aren't completely retarded.
Posted on 2/16/17 at 6:06 pm to LSUTigersVCURams
quote:
Yes, but developing it into a high end mixed use neighborhood would involve having politicians, developers, and money people with vision and foresight. who can work together, and who aren't completely retarded.
Well the guy that tried it went busted. It appears he was a victim of the financial collapse and he overpaid for the property.
The property has pluses, its between LSU and Downtown and close but not next to the new Water Campus. The parish is also suppose to build a 150 million dollar Tram line in front of it. Across the street is Magnolia Mound.
The negatives are there too. The developer overpaid, there are RR tracks in the rear with some old warehouses and an old sewer treatment plant (which can be demoed) and there's a state highway in the front. But worst of all there are blocks and blocks of major slum areas less than 1/4 mile away on the South and to the East which would have to be mitigated or overcome somehow.
In the long term I could see it do very well, but I mean a long time. In the near term it's a major risk.
Posted on 2/16/17 at 6:35 pm to doubleb
A tram is a drop in the bucket compared to all the money in construction and real estate. Why not just use a bus? Why is the tram more appealing than a bus?
Posted on 2/16/17 at 10:14 pm to MettShow69
Downtown is pretty busy with students thursday-saturday. Plus, Tin Roof is on this route, which has a ton of people on wednesdays and sundays
Posted on 2/16/17 at 10:15 pm to Rust Cohle
A tram could be (read should be) not in the travel lanes, thus would not get stuck in traffic like a bus.
Posted on 2/16/17 at 10:47 pm to kingbob
(no message)
This post was edited on 2/18/17 at 4:43 pm
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