BATON ROUGE, LA (WAFB) - As development continues for the Electric Depot entertainment and residential complex on Government Street, investors are expressing interest in properties for sale near the project, according to the Greater Baton Rouge Business Report.
The recent draw of interest comes in light of a portion of Baton Rouge’s Downtown East was named a National Historic place, making it eligible for tax incentives and abatement. The opening of Red Stick Social, likely to happen as early as February, also contributes to the interest.
The two properties are being eyed as potential sites for redevelopment, and have been on the market for at least eight months.
One of the properties, a 6,810-square-foot space at 1606, 1608 and 1610 Government Street, is within this Opportunity Zone, and investors could have access to Historic Tax Credits and incentives to redevelop the property. The building’s sales price is $325,000 sales, and Robert Pettit of Walters & Pettit Commercial Real Estate is listing the property.
Elifin Realty is listing the other property,a 1,700-square-foot building at 1600 Government Street, as “sale pending.” Its sales price is $195,000.