River Park Property for Sale | Offers Due 12.15.2020

Vacant Land for Sale
Call for Offers
Catylist Listing ID: 30656220
Property Subtypes: Hospitality, Industrial, Multi-Family, Office, Retail, Retail-Pad, Vacation/Resort
Gross Land Area: 23.52 Acres
Sale Price: $1
Unit Price: $0.04 Per Acre
In Opportunity Zone? Yes
Sale Terms: Cash to Seller
Call for Offers: Yes
Cap Rate: Undisclosed
Last Updated: 1/5/2021

Overview / Comments

Rare opportunity to acquire a large development tract on the Mississippi River. Situated on high ground with no view obstruction from the levee, this incredible property is in the heart of Downtown Baton Rouge, directly across from the State Capitol Building, and immediately adjacent to Hollywood Casino Baton Rouge on the south. The offering is 23.52 acres of land with 1,846 linear feet of frontage on the Mississippi River.

The River Park Development concept gained approval for incredible density under an existing Planned Unit Development, centering around a 125,000 square foot Mississippi Riverfront entertainment district with both indoor and outdoor performance venues, a public park and board walk, and including a approximately 500 hotel rooms, 1,100 multi-family units, 400,000 square feet of retail space and up to 600,000 square feet of office space.

The phased development plans are incentivized by economic development zone designation, and a TIF, which was was secured in order to levee a 2% tax on anything sold on the property. Corp of Engineers permits had also been secured.

Phase I was the construction of a four-lane, interstate grade underpass that allowed unobstructed ingress & egress to the property, as access was previously obstructed by the Canadian National Rail Road. Phase I has been completed.

Conceptual Plans & renderings demonstrate the potential of what could be developed on the property in future phases of development and are available upon request.

Additional Details

Nearest MSA: Baton Rouge
County: East Baton Rouge
Submarket/Township: 70
Tax ID/APN: 003-6422-3
Zoning: PUD
Property Located Between: River Road and the Mississippi River
Property Visibility: Excellent
Largest Nearby Street: River Road
Rail Access: Yes
Zoning Description: Planned Unit Development (PUD): A special zoning classification requiring a unitary development for property ten acres or more in size indicating the land uses, circulation, parking, setbacks, housing densities, building locations, land coverage, landscaping, relationships, streets, and architectural treatments.
Part of Planned Development?: Yes
Development Name: River Park (Proposed)
Topography: Level

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,845 67,577 154,540
Median Age: 36.33 33.57 32.27
Households: 1,502 26,302 59,607

Contact

Photograph of Listing Agent

Gordon McLeod

The McEnery Company Inc New Orleans, LA 70112
LACDB Member
Photograph of Listing Agent

S. Parkerson (Parke) McEnery

The McEnery Company New Orleans, LA 70112
LACDB Member
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.