EB-5 Visa Opportunity

Burbank Drive and Pelican Lakes Parkway in Baton Rouge, Louisiana

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EB5 Opportunity
EB5 Visa Investment Pelican Lakes Apartments

Pelican Lakes Apartments is a 345 unit luxury multifamily development located on a 27 acre site on Pelican Lakes Blvd, at Burbank Drive, in South Baton Rouge, LA. The successful apartment developer, R. W. Day & Associates has extensive multifamily development and management experience having completed and operated over 1,800 units in the region over the past 27 years, as well as numerous Commercial and Single Family subdivision developments.

Fugleberg Koch Architects has completed the architecture, planning, and design. The construction estimate is now complete and the project is expected to commence in late 2019. East Baton Rouge Parish Planning and Zoning is approved and Site Work including Lake Excavation is in process which includes $800,000 in site work, approx. 8 acres of amenity lakes, fill, compaction, and subsurface drainage.

About the Site

The 27 acre site is a portion of a 200 acre site acquired by R. W. Day over 15 years ago in anticipation of rapid development along the Burbank Drive Corridor. Over the years the entire 200 acre Master Planned Site has been planned, approved, and developed, in which several tracts have been divested for the development of single family subdivisions. One subdivision is complete, while national tract builder D.R. Horton is almost complete with another.

In 2005/06, Phase I (60 units) of the planned 134 unit Stonelake Condominiums, a part of the Pelican Lakes Planned Unit Development, as well as Pelican Lakes Boulevard infrastructure was developed and completed along with several lakes. Including the D R Horton Single Family Tract, and Phase II Pelican Lakes Condos, approximately 700 “new/owner occupied” Single Family Homes and Condos/Townhomes will enjoy sharing the 200 acre initial site with the  345 unit Pelican Lakes Apartments.

EB5 Visa Opportunity

Pelican Lakes Apartments is Conveniently Located Close to Shopping & Dining Downtown and only 4 miles from Louisiana State University.
The EB5 Visa Opportunity Pelican Lakes Location

Surrounding the site to the immediate SSW (1/4th mile), is the area’s “newest and finest Casino“, L’Auberge Casino and Hotel, Phase I which has been completed and operating several years now ($357 Million) on a small portion of its to be developed 550 acre site along the Mississippi River, recently employing in excess of 1,800 employees in dire need of multifamily housing.

A few miles SSE extending south for miles on both East and West Banks of the Mississippi River , which has since 2010 has undergone a rapid expansion with in excess of $30 Billion in new plant construction and expansions. While this is still underway, it has created a level of growth beyond any experienced in the last 100 years, driving high salary job growth in the Baton Rouge Metro area.

Baton Rouge has led the State and Gulf South in Industrial expansion and job growth for the past five plus years and continues to do so. This growth is and continues to be driven by low Natural Gas prices, producing a huge “competitive advantage” in the production of domestic petrochemical products. Most new permanent jobs produced in the Petrochemical Industry are high paying jobs in the range of $65,000 to $150,000 plus, most average well over $75,000.

To the immediate north of the site is the Baton Rouge Regional Medical Corridor which is undergoing rapid expansion, with many new hospitals as well as major developments underway, and a multitude in advanced planning stages. Four miles WNW is LSU, which employs in excess of 10,000 in high salary Research and Professorship positions and support staff, with LSU’s new South Campus expanding now, 1/8th of a mile WSW of the Site. Additionally, Pennington Biomedical Research Center, recognized as one of the premiere centers worldwide for Nutritional Research, is located approximately 2.5 miles NW, while the Baton Rouge Central Business District and State Capitol Complex is located approximately 6 miles WNW, which is the major white collar employment center of the 850,000 citizens in the MSA. United Plaza, the Metro’s largest Class A Suburban Office Center Complex is located 3 miles North of the Site, between Interstate 10 and Interstate 12, Baton Rouge’s two major traffic arteries.