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Engquist Development inks deal to build Rouzan multifamily
Rouzan-homes • Feb 18, 2020
Engquist Development inks deal to build Rouzan multifamily
Rouzan developers John Engquist and Charles Landry announced this morning they have signed a purchase agreement with New Orleans-based Key Real Estate Co. for a 4-acre, mixed-use multifamily site in the heart of the traditional neighborhood development’s commercial district.
The $50 million, mixed-use multifamily complex will feature 280 high-end rental units with one-, two- and three-bedroom floor plans, as well as 15,000-square feet of retail space. The development will be behind the Sprouts grocery store and adjacent to the TND’s restaurant district, which has yet to be developed.
Sunshine Cleaners has acquired a roughly .25-acre tract in Rouzan from Engquist Development and plans to open a new location on the site. The property, which sold for $249,640 in a deal that closed Wednesday, is on an outparcel adjacent to the site of the East Baton Rouge Parish Library’s planned south branch neighborhood library, which is currently in design.
Rouzan developers John Engquist and Charles Landry have filed a final development plan with the planning commission for 167 residential lots that will be developed on the remaining 30 acres of undeveloped land in the Southdowns-area Traditional Neighborhood Development.
After a dozen years of on-again-off-again deals and failed attempts to find a home for a new south branch library, the East Baton Rouge Parish Library Board of Control secured a site today for the long-awaited branch, when the city-parish acquired 1.96 acres in Rouzan for $1.7 million. The deal was announced in March 2018, just weeks after Enquist Rouzan Commercial Development acquired the Southdowns-area development from original developer Tommy Spinosa. But it has taken nearly 18 months to get to the closing, which was completed earlier today. The city-parish acquires all land for the library, but building costs are covered by library system funds set aside years ago for the project. “We could not be happier to be a small part of what will be an amazing asset of south Baton Rouge,” says attorney Charles Landry, who serves as the developer of Engquist Rouzan Commercial Development.
Construction to begin immediately on 49 new single-family homes in Baton Rouge’s most anticipated traditional neighborhood development Level Homes has started construction on The Cottages at Rouzan — a cluster of single-family detached homes in the center of the highly-anticipated traditional neighborhood community recently acquired by Engquist Development. Offered exclusively by Level Homes, the homes will feature rear vehicle access and will front onto manicured, fully-landscaped green spaces. “The Cottages have been designed to offer the best of everything,” said Jennifer Waguespack, Director of Sales for Level Homes. “These homes will be in the center of the community, close to all of the amenities and perfectly sized for everyone from growing families to empty-nesters.” The Cottages will be centrally-located within the Rouzan community — walking distance from the planned amenities and the Village Center which will be a mixed use commercial district anchored by the recently-announced Sprouts Farmer’s Market grocery store slated for completion in early 2019. Other planned amenities in the development include a private community pool, clubhouse and fitness center as well as a community farm, outdoor fitness trail, bike paths and several parks. Buyers at The Cottages will be able to choose from five unique floorplans ranging in size from 1,550 to 2,250 square feet of living space. The ‘Mignon’ plan is a 1,565 square foot, single-story home featuring three bedrooms, two full bathrooms and classic cottage-inspired details. The ‘Adalai’ plan is a 1,761 square foot, two-story home featuring three bedrooms, two full bathrooms, one powder room and timeless Southern styling. The ‘Margeaux’ plan is 1,956 square foot, two-story home featuring three bedrooms, two full bathrooms, one powder room, a second-story loft and traditional farmhouse detailing. The ‘Brigitte’ plan is 2,052 square foot, two-story home featuring four bedrooms, three full bathrooms, one powder room, a second-story loft and classic painted brick exterior styling. The ‘Madeleine’ plan is 2,249 square foot, two-story home featuring four bedrooms, three full bathrooms, one powder room, a second-story loft and Charleston-inspired exterior styling. “We are excited to see this project get started,” said Charles Landry, developer of Rouzan. “This is the ideal location for new residential construction and these homes will be a great start to what we know will be the best place to live in Baton Rouge.” The Cottages at Rouzan will range in price from low $400s to the mid $500s and are available for immediate construction. The plans have been assigned a pre-determined lot location within the development and availability is extremely limited. For more information, visit LevelHomesLifestyle.com. Interested buyers should contact Jennifer Waguespack for availability at 225.663.1807 or via email at Jennifer@LevelBR.com
Revision to Ordinance Unanimously Approved
Development To Provide A Connection From The Baton Rouge Health District To The University Lakes
COMMUNITY AGRICULTURE EXPERT TO DESIGN THE HALF-ACRE ROUZAN COMMUNITY FARM Daron Joffe — better known as Farmer D — is a national leader in the design and implementation of urban and community-based farms. Joffe is well-known for his work throughout the United States, but most notably, as the founder of the farm at Serenbe — a traditional development outside Atlanta. Plans are slated to preserve the concrete silos that sit at the center of the Rouzan property. "The Silos have always been my favorite part of the property," said John Engquist, Co-Developer of Rouzan. "They have so much character and give us an opportunity to create a really unique amenity that is rooted in the history of the land." "This farm will have benefits that extend well beyond the Rouzan property," said Charles Landry, Co-Developer of Rouzan. "This farm will serve as a wellspring for educational and cultural programming that will
The New Owners Of Rouzan Have Reached A Tentative Agreement To Sell A 1.75-acre Tract In The Traditional Neighborhood Development To The East Baton Rouge Parish Library System For A New 15,000-square-foot South Branch Library. Plans for the proposed library, which still needs approval from the East Baton Rouge Library Board of Control, are being detailed tonight at a District 12 Community Meeting at St. Aloysius Church, hosted by councilmember Barbara Freiberg, who helped advocate for the new library site. The proposed site for the new branch comes after years of searching and ends where it began—in Rouzan. The TND’s original developer, Tommy Spinosa, reached a deal with the library board in 2010 to donate land in Rouzan for a library. But the deal fell through in 2013 and the board has been on a quest for a suitable site ever since. Earlier this year, a group of investors led by John Engquist and Charles Landry acquired all but five acres of the 117-acre Rouzan from Spinosa. Less than 45 days later, the library deal was hatched. Landry says a library was not initially on the minds of the new owners. But almost immediately after acquiring the property they started hearing from library administrators and board members as well as council members and other civic leaders asking them to revisit the idea. “Everyone asked us to consider it and we did,” Landry says. The team’s design consultant, architect Steve Oubre, spent two weeks brainstorming the best location and design for the facility, coming up with a rendering library officials are thrilled with, Landry says. Still, the library board can still retain its own architects and come up with its own design. The new arrangement is different from the 2010 deal with Spinosa in a couple of key respects. For one, the parcel on which the library will be built is not being donated to the library system but will be sold to it. The price has not yet been publicly disclosed. Also, Spinosa’s plan called for locating the library in the heart of Rouzan. This plan places it on Glasgow Avenue at the intersection of Tupello Street, where Landry says it will be more easily accessible for the entire Southdowns community. “This isn’t a Rouzan library,” he says. “It’s a Southdowns neighborhood library.” The library board must still approve the deal at its monthly meeting on Thursday, March 15. The Planning Commission will also have to approve modifications to the Rouzan Concept Plan to allow for a civic building to be developed in space that is currently designated for mixed use. Read Daily Report AM Wednesday for more details.
Roughly six weeks after a team of investors led by businessman John Engquist acquired the residential portion of Rouzan for $21 million, Level Construction & Development is set to begin constructing 46 homes on small and medium-sized lots in the Traditional Neighborhood Development. Level, represented by Ryan Engquist, purchased the lots for roughly $6.9 million in a deal that closed late last week. The seller is listed as Engquist-Rouzan Residential Development, a limited liability company represented by Todd Waguespack. Both Engquist and Waguespack—along with developer Charles Landry—are partners in the Rouzan deal. In addition to the residential portion of the TND, the group also purchased Rouzan’s commercial land and debt. The lots Level purchased are in the first of three residential filings planned in Rouzan. They’re located in the heart of the development, Landry says. The filing has a total of 74 lots, and the remaining 28 lots will be marketed to other builders. Other committed builders include Robert Scheffy III and Mike Telich. Level is building three and four-bedroom homes that will range in size from 1,500 to 2,200 square feet. The houses will be priced in the high $300,000s to the low $500,000s, Landry says. The company will start pulling building permits in the next two weeks and start building the first five houses in 45 days. “All of these lots are very very consistent in terms of the existing design and standards that are imposed by Rouzan,” Landry says. Infrastructure work on the second filing—which consist of 72 medium lots—will be finished in about two to three months from now, Landry says. The third filing will have 138 medium- and estate-sized lots that are expected to be finished in the next three to four months. Custom homes will be priced in the $700,000 to $900,000 range. “There will be plenty of product for people who want to be build houses in Rouzan,” Landry says. “The demand is astonishing.”
The controversial Rouzan development has been acquired by the team behind the Americana traditional neighborhood development in Zachary, who plan to resume work on the stalled Rouzan project Monday. The team led by John Engquist, chief executive officer of H&E Equipment Services, acquired the commercial and residential portions of Rouzan from Tommy Spinosa in a deal completed Friday. Engquist-Rouzan Residential Development LLC paid $21 million for 65 acres of land, which will be carved into 375 to 400 lots, said Charles Landry, a Baton Rouge attorney and business partner with Engquist. Engquist-Rouzan Commercial Development LLC paid an undisclosed sum for a stake in the 32 acres of commercial property in Rouzan. Spinosa will become an investor on the commercial side of the development and maintain ownership of a 4-acre tract in the development. “Anybody who buys a piece of property believes they have the best piece of property in town. Well, I do believe I have the best piece of property in town,” Landry said. “I do believe that Tommy has the crown jewel of real estate in Baton Rouge.” Rouzan is located on a 120-acre tract near Perkins and Glasgow roads. About 75 homes have been built on the site. Rouzan has been dogged by controversy for years. Nearby residents were opposed to the development because they feared it would make traffic worse. The 1st Circuit Court of Appeal ruled in 2014 that Spinosa improperly took and obstructed a 30-foot-wide servitude that belonged to two homeowners whose property is surrounded by the development. In September, District Judge Janice Clark awarded $97,000 to the homeowners, Dr. Bob Welch and Danny Hoover, and ordered Spinosa to restore a servitude to their homes. Spinosa donated land for an East Baton Rouge Parish library branch in the development, but the library board voted to end the agreement after years of disputes over permits, traffic studies, infrastructure and who was responsible for each step in the construction process. And the legal and financial woes associated with Spinosa’s nearby Perkins Rowe development spilled over to the property. To make matters worse, First NBC Bank provided financing for all of Rouzan. When that New Orleans bank was abruptly closed by federal and state bank regulators in April, Spinosa was stuck in limbo. “That put all of Rouzan into suspension,” Landry said. “There was not a bank for Tommy to get a release from the mortgages,” Landry said. At the time, Engquist had a purchase agreement to buy 100 Rouzan lots, but the deal couldn’t go through. Whitney Bank absorbed much of First NBC, but all of the Rouzan loans were sold by the Federal Deposit Insurance Corp. to a Boston-based investment group. When that happened, Engquist and Landry started negotiating to get Rouzan on track. “We bought all of the Rouzan notes and all of the other notes Tommy had for his other ventures,” Landry said. “When we acquired the notes, it allowed him to have someone to talk to.” As part of the purchase agreement, Engquist funneled $97,000 to an escrow account to pay off Welch and Hoover, and a lot has been identified that will provide access to their lots. “That’s part of what we feel are the best outcome from acquiring Rouzan,” Landry said. “There were a lot of disputes and issues with neighbors. We’re coming in to address all these quickly so we can have Rouzan fulfill what it was intended to be: the best mixed-use, multi-family traditional neighborhood development in Baton Rouge.” “There’s a huge need for office space in this area,” Landry said. He expects some demand to come from Rouzan tenants who would like to have an office they could walk to. Plans are also in the works to revisit some of the development plans that didn’t materialize in Rouzan, like the Alamo Drafthouse movie theater that would have been the centerpiece of the development. Alamo Drafthouse dropped plans for a Rouzan location in 2016 because of delays in getting the major street plan for the development. “A lot of these newer movie theater concepts that offer food and beverage and like to be embedded in a mixed-use development, those are opportunities for us,” Landry said. However, Landry said getting a library located in Rouzan isn’t as important to him as getting commercial developments to come in, such as restaurants and retailers. Engquist has a history of taking over stalled developments. In 2009, he led a group of investors who bought the 413-acre Americana development out of bankruptcy. Today, Americana has about 65 homes and a number of commercial tenants, including a Walk-On’s Bistreaux & Bar. An additional 20,000 square feet of retail is set to open in a month, along with 60 apartments, Landry said. “This is a natural extension for us,” he said.