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2
Posted on 12/13/15 at 4:43 pm to jordan21210
Rent keeps going up even though there are vacancies everywhere - my tiny 1BR is supposed to go over $800/month next year, and it's an old place not even close to LSU with a bunch of openings. I'm looking into buying a house or building on my parents property I inherited and getting the hell out of BR.
This post was edited on 12/13/15 at 4:44 pm
Posted on 12/13/15 at 4:47 pm to Horsemeat
Rent in and around Baton Rouge is inexplicably expensive compared to other similarly sized cities. Tallahassee, Mobile, Montgomery, and Jackson, MS are all around the size of BR and are way more affordable than BR.
Posted on 12/13/15 at 4:49 pm to jordan21210
quote:
Except lowering prices
He says they're doing that too, but he might just be falling for a good sales pitch. I haven't done any research and just going on what he says.
Posted on 12/13/15 at 4:50 pm to Paul Allen
All 4 of those metro areas are way smaller than BR, FWIW. By a good 250k
Posted on 12/13/15 at 4:58 pm to TulaneUVA
They're being filled with Syrian refugees according to my Facebook feed.
Posted on 12/13/15 at 5:09 pm to LucasP
quote:
He says they're doing that too, but he might just be falling for a good sales pitch. I haven't done any research and just going on what he says.
I've been in BR since 2007 and rent seems to have consistently risen despite the rapid construction of complexes. Co-worker of mine has a 1 bedroom in BR and they told him rent is going up next year...$1,000+/month. BR is not a renter's market, unless you want to live in the hood.
Posted on 12/13/15 at 5:11 pm to Golfer
Let's no do metros. Let's look at city proper. BR is around 230,000. So why don't you list regional cities comparable to BR and tell me why BR is so expensive to live in for a city that is woefully inadequate of many vital resources.
Posted on 12/13/15 at 5:13 pm to Paul Allen
Well if that's the case then the majority of these complexes being discussed aren't within the city limits of BR.
Posted on 12/13/15 at 5:20 pm to Golfer
quote:
Well if that's the case then the majority of these complexes being discussed aren't within the city limits of BR.
Lee Dr. is definitely BR city limits. Nearly all of Lee between Nicholson & Burbank, corner of Lee & Burbank, and Nicholson between Lee & Ben Hur are all being cleared for development or developed right now - also have had a few new ones go up on Brightside in the last few years. That is all just near LSU...plenty more going up on Perkins and also the Jefferson/Corporate area.
Posted on 12/13/15 at 5:29 pm to Golfer
I guess I'm not seeing what you are. I don't mean it as a slight as I know you're an adamant defender of BR, which by the way, is my hometown. I just find it to be overpriced, and by a lot.
Posted on 12/13/15 at 5:31 pm to TulaneUVA
They keep coming and we keep landscaping them. Dolla Dolla Bills
Posted on 12/13/15 at 5:34 pm to jordan21210
The new developments being discussed off Ben Hur and Burbank are not in BR city limits.
Posted on 4/8/16 at 4:35 pm to TulaneUVA
Bump
Posted on 4/9/16 at 1:48 am to TulaneUVA
LSU & the State of LA are supposedly broke yet these developers are building massive complexes to house students that don't exist...there isn't a shortage of on or off campus housing at or around LSU. So who are all these tennants supposed to be?
Is LSU about to increase enrollment by 10,000 & we just don't know it yet?
Are more companies like IBM moving to BR looking to hire recent grads & we just don't know it yet?
Somebody knows something &/OR there is a wildly crooked game of real estate back door deals going on. These developers don't just build for the hell of it. They're after the dollars. But where are those dollars coming from?
Is LSU about to increase enrollment by 10,000 & we just don't know it yet?
Are more companies like IBM moving to BR looking to hire recent grads & we just don't know it yet?
Somebody knows something &/OR there is a wildly crooked game of real estate back door deals going on. These developers don't just build for the hell of it. They're after the dollars. But where are those dollars coming from?
Posted on 4/9/16 at 6:58 am to forever lsu30
You've mentioned the Burbank and Parker projects. Don't forget the massive new student housing complex LSU is planning to build on Nicholson across from the track stadium.
This won't be geared towards students, but continue down Nicholson towards downtown and you've got even more apartments going up.
I have no idea how its sustainable, but to see ground breaking on most of these is unbelievable. The entire corridor from downtown to south of campus will be completely different in 5 years.
What will be interesting to see is which areas start to drop in value because of this new construction.
This won't be geared towards students, but continue down Nicholson towards downtown and you've got even more apartments going up.
I have no idea how its sustainable, but to see ground breaking on most of these is unbelievable. The entire corridor from downtown to south of campus will be completely different in 5 years.
What will be interesting to see is which areas start to drop in value because of this new construction.
This post was edited on 4/9/16 at 6:59 am
Posted on 4/9/16 at 7:06 am to Martini
quote:
I believe they are getting close to saturation and there are several more in the works. The older ones are going to really suffer in the next few years.
And it is not my money and a lot of the Real Estate Investment Trusts that buy these apparently know the risk versus rate of return but I have to believe the above link overpaid for that complex.
This is the entire point. The ghetto is taking over near LSU which is why super safe and secure luxury condo and apartments, especially places like an 18 story building, will be where all of the parents want their kids to live. These places will thrive and make bank while the people who own homes near the ghetto will struggle to find tenants. Those homes close to LSU and the ghetto are a good long term investment because eventually gentrification will do what it always does but if you are looking for short term rental income RUN from those homes.
Posted on 4/9/16 at 8:03 am to jordan21210
All the developments they are talking about are within city limits
Posted on 4/9/16 at 9:14 am to TulaneUVA
There is another large complex going up South of Ben hur as well. I hate to think what will happen with all these complexes when they are 15 years old. Nobody will pay what they are asking to live in them and it will be too expensive to renovate/maintain them.
Posted on 4/9/16 at 10:30 am to Creamer
shite like these giant complexes in an area where the traffic infrastructure can't support them with zero architectural context and fueled by a cynical business model is exactly why Baton Rouge will always be a shitty place to live.
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