Audubon, RCG Longview Purchase Flood-Damaged Multifamily Community in Baton Rouge for $33.3M
BATON ROUGE, LA. — Atlanta-based Audubon Communities, in conjunction with New York-based RCG Longview, has purchased St. Jean, a 624-unit apartment complex in Baton Rouge, for $33.3 million. The property will be renovated and renamed The Reserve at White Oak following significant damage from a flood in 2016. Constructed in 1997, the property comprises 66 buildings on 49 acres and includes two- and three-bedroom units averaging 1,100 square feet. Planned capital improvements include the complete renovation of damaged first-floor units, upgrades to second-floor units, the addition of granite countertops and stainless steel appliances in some units, a new standalone leasing office and two amenity buildings, energy efficient windows, new exterior doors and a new fitness center. A select number of units will be offered as affordable housing.