Atlanta company investing $8 million in student housing complex on Coolidge Street at General Mouton.
As ABiz first reported in January, an Atlanta-based company is entering the Lafayette market with a unique $8 million student-cottage complex on Coolidge Street at General Mouton. Cottage Landing will break ground Friday at an 11 a.m. ceremony.
The back of the complex, across from the old Rodemacher plant, is in the 1800 block of West Pinhook Road, what was once the site of Evangeline Motors. Cottage Landing is about four blocks from UL Lafayette.
Cottage Landing Partners, a subsidiary of Barnhart Guess Properties, is developing the 47 cottages with 189 bedrooms, Frank Klemenc, director of architecture, planning and construction for Barnhart Guess, told ABiz in January. Barnhart Guess handles leasing, management and development of mostly mixed use and retail space, as well as retirement communities, throughout the Southeast but has been branching out into student housing.
"We're starting to do these all over the country where there is a need," Klemenc said.
The gated Oil Center complex has three-, four- and five-bedroom options. The cottages offer a private bathroom for every bedroom and include features like large closets, covered porches and grilling patios. The complex also will have a resort-style swimming pool.
Court records show that another Barnhart subsidiary, Red Lafayette LLC, purchased the 4-acre tract of land in mid-December for $1.25 million from Evangeline Oil Realty Co., which is owned by former U.S. Rep. Jimmy Hayes and several of his family members. The Pinhook Road location once housed Evangeline Motors but most recently was occupied by Styles Fashion Outlet.
Including the cost of the land, Klemenc said about $8 million would be invested in the project.