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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 9:53 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 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 10:39 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 10:56 am to saint amant steve
quote:
So how the hell can so many college students afford $500+ in rent?
I miss how cheap BR was
$500/month is absurdly cheap
This post was edited on 7/24/15 at 10:57 am
Posted on 7/24/15 at 11:02 am to saint amant steve
quote:
Plus, most of them are borderline "luxury" apartments. So how the hell can so many college students afford $500+ in rent?
I know it was 20 years ago, but my college apartments were all in the $500/mo range and that was split 2 ways
also, there are still a number of apartment/condo project still in design or being bid out at the moment. so there are more to come..
over supply is a good thing and it keeps the costs down. But with the student loan bubble building, just like tuition rate growing, so is student housing. Kids just take out "free" loans to pay for it all
Posted on 7/24/15 at 11:32 am to saint amant steve
Target was supposed to be on Lee & Burbank....And now they will be starter homes and apartments 
Posted on 7/24/15 at 11:39 am to saint amant steve
quote:
Plus, most of them are borderline "luxury" apartments. So how the hell can so many college students afford $500+ in rent?
I'm "in the industry" so to say and this is the aspect that gets me. I know every apartment complex in Baton Rouge and I know roughly what the rent for and roughly what occupancy is. I am absolutely amazed that these out of state developers/owners think that this market can support the continued saturation of quasi luxury apartments. Even substandard market intelligence would tell them occupancy rates of 85% for that market is about standard. There are more in the works too.
Posted on 7/24/15 at 3:49 pm to saint amant steve
quote:
o how the hell can so many college students afford $500+ in rent?
It's honestly not that hard
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