River House, Baton Rouge, Louisiana

River House is a newly-constructed complex on a 9+ acre (3.64+ hectare) site which combines residential and commercial space in a unique location midway between downtown Baton Rouge – the location of the state capitol and government offices – and Louisiana State University (LSU). Located on a main artery in the city connecting these two centers of activity, River House will be poised to draw from both into its historic neighborhood along the banks of the Mississippi.

GOAL

River House will become a successful, mixed-use, new-urbanist project which will help to transform its neighborhood into a powerful bridge between downtown and LSU.

HISTORY

Purchased and operated initially as a 324-room full-service hotel until it was closed in 2003, the site of River House was cleared in 2006 to allow for future redevelopment. Phase I of River House, consisting of 224 apartments and completed in 2017, also includes a 4,200 ft(390 m2) clubhouse featuring:

  • Community center and co-working space
  • Resort-style swimming pool
  • Pet park
  • Training and yoga studio
  • Outdoor cooking areas

FUTURE

Given the demonstrated success and demand for apartments at River House, the Sponsors have decided to convert an existing three-story, 32,354 ft(3,005 m2) shell building located at the front of the project into 2 additional two-bedroom apartments which will be named River House Lofts. These units are modeled after the popular “Bocage” floor plan at River House and will range between 455 ftand 656 ft(42 m2– 60 m2). The design and interior finishes will be similar to the existing River House units, and River House Lofts will share in all of River House’s first class amenities. The project will benefit from operating efficiencies allowing current River House expenses to be spread across 264 units without meaningful incremental cost.

CRC'S ROLE

Owner, developer, asset manager

OPPORTUNITY ZONE

River House is located in an Opportunity Zone, and therefore can qualify for investments by Opportunity Zone Funds.

DESIGN AND AMENITIES

River House has been designed from the start to be the most exciting place to live in Baton Rouge. As a result, River House has one of the city’s most attractive set of amenities and architectural design packages, including:

Residential

  • 224 one- and two-bedroom apartments (ranging from 513-955 ft(48-89 m2)
  • A 4,200 ft(390 m2) communal clubhouse, complete with:
    • Swimming pool
    • Sundeck
    • Barbeque area
    • Fitness room
    • Central courtyard
  • Garage covered and uncovered parking available for all residents

Retail

  • Over 15,000 ft(1,390 m2) of retail space
  • Frontage along busy Nicholson Drive

EXPLORE

River House is situated about 1 mile (1.6km) away from Louisiana State University (LSU) and the downtown/state capitol complex – the economic, cultural, and political centers of Baton Rouge. River House’s location on Nicholson Drive, a heavily trafficked main artery, means that it can easily be reached from both locations without having to use the frequently congested highways. River House’s central location is its strongest asset.

CBD/Capitol Complex

  • The capital of Louisiana, and the location of most of its government offices
  • Over 10,000 government workers, 1,300 businesses, and 35,000 employees 
  • A young, educated, and well-paid pool of potential residents and tenants

Louisiana State University

  • Louisiana’s largest and most important university
  • Over 25,000 students, 1,500 faculty, and 5,000 support staff
  • Convenient access to school, work, and the rest of the city

In addition, River House will be served by municipal and university buses, and will have direct access to a 3 mile (4.8 km) bike path along the Mississippi River, which lies behind the property. River House’s ideal location will connect residents and businesses to both the university and the government, without tying them to either.

River House will also benefit from its location adjacent to The Water Campus, a 35-acre, high tech/science/ecology master-planned development that will consist of 1.6 million square feet of buildings supporting 4,000 working professionals. Three buildings on The Water Campus, which cost $60 million to complete, have opened and several more are now underway.

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