re: What's the latest on the Rouzan development

quote:

---

False.

---

What's your version Tommy? I got my info from one of the Manager's on site when I asked why they were digging up the water transfer lines between the properties during the shut down. I then read some stories in the Business Report that confirmed (see below). If he was making it up, I would like to hear the other side of the story.

quote:

---

Before reaching deal with Spinosa, Perkins Rowe owners filed permit to build their own chilled water plant

BR STAFF OCTOBER 17, 2014 One week before developer Tommy Spinosa finalized the deal to sell his water-cooling plant at Perkins Rowe to the development’s new owners, the ownership group filed for permits with the city-parish Department of Public Works to build its own chilled water facility at the mixed-use development. According to records filed with DPW, on Sept. 30 Crawfish LLC—a subsidiary of the Texas-based investment group that has owned Perkins Rowe since late last year—applied for a new building permit for a 2,790-square-foot, $3.58 million chilled water plant at the development. One week later, Spinosa agreed to sell his chilled-water plant, Central Facilities, which was at the center of a dispute between him and Crawfish for months. Though Spinosa lost ownership of Perkins Rowe in a foreclosure battle, he continued to own Central Facilities and to charge what tenants claimed were unfair rates for chilled water. Was the building permit filed by Crawfish the tipping point in the high-stakes negotiation? Perhaps, though a spokeswoman for Perkins Rowe’s management company says the permit application was more than merely a bargaining chip. “We were looking to pull the trigger on a new plant if the deal was not made,” says Donna Taylor of Stirling Properties. Spinosa has declined to comment on the issue. —Stephanie Riegel

---

Reviewing another story it looks like they found out about the issue not after purchase but during foreclosure. So while the timing of the story is a bit off, the overall truth of it is the same.

quote:

---

Lenders in the Perkins Rowe case are asking the court to let them seize and sell developer Tommy Spinosa’s ownership interest in Central Facilities, which owns the plant that supplies chilled water for the tenants’ air conditioning system at the mixed-use development. In court documents filed Monday, an attorney for Ohio-based KeyBank National Associates says the bank is entitled to seize the water plant—which observers have characterized as Spinosa’s ace in the hole during his four-year-long foreclosure battle with lenders—because it doesn’t think a foreclosure sale of the property will yield enough to satisfy the $200 million judgment it was awarded in September 2012.

---

Add on shitty public schools.

Ruined Ford's Pasture and the surrounding woods. Used to whack bushy tails there with my ol' Benjamin when I was a kid.

quote:

---

And he conned the people in the area out of a library that was supposed to be on the Rouzan site

---

Last I heard, the Library Board was talking about taking over the building that the LA State Contractors Licensing Board has on Quail Drive, once they move downtown.

Today I was wondering about this as well. I'm tempted to contact their sales team to inquire about purchasing property to find out more about why the development is delayed. Maybe someone one here lives there or knows someone who does who has better information.

I'd really like for the street system in Rouzan to be finished at least. Huge traffic problems could easily be solved if we connected streets. And it would be nice to take Hyacinth instead of Perkins in the afternoon to avoid traffic. I'd also like a nice outdoor beer garden bar in the retail development within walking/biking of my house. One can dream......

quote:

---

Huge traffic problems could easily be solved if we connected streets. And it would be nice to take Hyacinth instead of Perkins in the afternoon to avoid traffic.

---

Envisioning Hyacinth as some kind of lesser Perkins Road ain't gonna happen. There is no way it is going to connect out in a straight enough line to make it a viable alternate route.

quote:

---

destroyed 1/3 of the housing in the city. The meighborhoods that didn't flood now fetch a huge premium.

---

This is not true

drove through there last week. roads are already torn to shite. as already said, houses literally on top of each other, on all sides. obviously no arch. review comm. with some of the front house color schemes. baby shite brown stucco is not appealing.

quote:

---

Last I heard, the Library Board was talking about taking over the building that the LA State Contractors Licensing Board has on Quail Drive, once they move downtown.

---

It was the Library Board as much as Spinosa. He wanted it because it would have been a great draw for his commercial section.

And to the OP the equipment sitting is used doing the next filing. It hasn't been sitting for years. He did test piles a couple years ago and that is what has been sitting. He had several pull out, the library, Alamo Draft House and a couple others so the commercial side is sitting.

And there was no shut down of chilled water at Perkins Rowe. Stirrings contractor started digging up the concrete for the new system when Spinosa finally realized it was time to settle.

I know several people that have bought in Willow Grove and all have money and all have had plenty of yards before and just don't care for it. The older I get the less I like mine-small lots are very desirable for a lot of people and I'll be one of those at some point.

If anyone thinks the economy is tanking in Baton Rouge they just don't know what's going on. There is still a ton of industrial work that is just starting or about to start that oil prices or flooding play no part in. I don't know anyone in any industry that isn't going full out. Finding qualified personnel is a huge problem.

I'm no Spinosa fan and I do know several that took a hit on Perkins Rowe but if anyone knows his history he was a solid developer for the most part until Perkins Rowe. And my belief on it was he tried to do it all himself and never had it on the market. His intent was to keep it and run it in lieu of developing and selling to a hedge fund or real estate investment trust. He was getting jammed by the first general contractor out of Texas and when he got rid of them he decided to finish the buildout with his own company and that was a very bad decision.

quote:

---

financial crap of the 08-09 recession.

---

That's nearly a decade ago. Why isn't there any more development of Perkins Rowe?