A vacant office building in downtown Baton Rouge has been sold for $5.5 million to a New Orleans development group that plans to build luxury apartments on the site.
Key Real Estate bought the 1.4 acre property at 617 North Blvd. in a deal that was filed Monday with the East Baton Rouge Clerk of Court’s office. The seller was North Boulevard Properties LLC of Baton Rouge.
The building had been a branch of Baton Rouge Bank and Whitney National Bank. Whitney closed the location in 1999, when it moved into the City Plaza office building a few blocks down North Boulevard . The Louisiana Department of Health & Hospitals had some offices in the building in the early 2000s.
Michael Lang, managing principal, development for Key, said the building had been vacant for several years. The plan is to demolish the building and build a complex that will complement The Heron. The Heron is a 142-unit apartment development at the corner of Florida and Sixth streets that Key manages.
Units in The Heron rent for between $1,199 for a 690-square foot one-bedroom, one-bath model to $1,799 for a 1,042-square foot two-bedrooms, two-baths model.
Further details about the apartments will be released in a month, Lang said in an email.
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