OCTOBER 7, 2019 | REAL ESTATE | BATON ROUGE BUSINESS REPORT
Brian Dantin and Ross Bruce, with Dantin Bruce Real Estate, have acquired nearly 30 acres off Bluebonnet Boulevard and Burbank Drive for $2.3 million.
The property will be part of a planned mixed-use development called Bellegrove Square and will feature roughly 117 Dantin Bruce Real Estate-built homes that will be priced between $250,000 and $275,000. The site was approved last month by the Metro Council to be used as a residential neighborhood.
Bruce says they don’t know what size the homes will be or when construction may begin, but they’ve begun clearing the land and have applied for permits to install infrastructure and roadwork for the property. He hopes to begin selling homes in early 2021, though he’s unsure if the homes will be presold or sold as completed.
“I think homebuyers these days are looking for convenience and amenities that are nearby,” Bruce says. “We think this development will bring that and add more to the existing Bluebonnet and Burbank area.”
Dantin and Bruce bought the property from Mostafa and Donna Khosravanipour, who were represented in the transaction by David Trusty, of Trusty Commercial Property.
Trusty is also representing an adjoining 30 acres of Bellegrove Square, which he’s working to split and sell as four separate parcels to be used for office, multifamily and commercial retail. He’s received two letters of intent from interested parties and is talking with several others, including a few “out-of-town” restaurant groups that would be new to the market.
He’s aiming to have the commercial partners set in stone by October 2020, with construction starting possibly early 2021.