Park7 Group Takes Student Housing Project Another Step Forward
- Jun 22, 2015
By Adrian Maties, Associate Editor
New York-based Park7 Group, a firm founded in 2010 by a group of student housing professionals, has taken another step towards the start of construction for its planned 280-unit apartment complex in Baton Rouge, La. This month, the company has finalized the acquisition of the site where it intends to construct the new building.
Park7 announced the project last fall, when it also filed an application with the city-parish Planning Commission to rezone a 2.62-acre area bordered by West Parker Boulevard, East Boyd Drive, Swire Avenue and Dodson Avenue. The project is called Park7 Apartments. In addition to the 280 units, the six-story building will also include numerous amenities, such as a pool, clubhouse, a fitness center, a theater, a game room and a six-story parking garage with 749 spaces.
The Advocate reported that Park7 Group purchased the site for $9.3 million, in four separate deals. The New York-based company paid $5 million to DB Boyd Holding LLC, $2.6 million to Ivy at Southgate LLC, $1.2 million to Campus Edge Apartments, and $650,000 to TK Properties.
Dallas-based Humphreys and Partners is the project’s architect, with the Duplantis Design Group in charge of design and engineering. If the project breaks ground this summer, it could open in time for the 2017 fall semester.