As first reported by ABiz in its June issue, the apartment complex adjacent to the mall of Acadiana is back on track after being abandoned for more than 1.5 years. But the new owners have just announced that they’ve changed their minds about keeping the name Reserve at Acadiana and have settled on The Greystone Apartment Homes.
In the June story “Complex Problems Solved,” ABiz reported that Dallas-based Hayman Woods, a real estate private equity fund manager, and Vintage Resources LLC, a Baton Rouge-based developer, assumed ownership of the project in April and hired Block Builders to handle construction. The complex consists of one-, and two-bedroom apartments from 648 to 1,240 square feet. Rental rates will range from $800-$1,250 per month.
This week Block Builders, a general building and construction management firm based in Baton Rouge and division of Block Companies, announced that the 276-unit, garden-style apartment complex at the intersection of Johnston Street and Guidry Street should be ready for rental by early November.
“We’re thrilled to be working on this complex and expanding Block’s presence into the Lafayette market,” says Jason E. Keller, CEO of Block Builders. “Now with the expertise and leadership of the Block team in control, and a under new ownership and direction, everything’s in place for a successful completion.”
“We believe the robust economic climate in Lafayette as well as increased demand in the once-crowded rental market will combine for a project that provides work for the local labor pool and a fitting complement to other development in the area,” says Clay Likover, managing director of Hayman Woods.
The Greystone will offer prospective residents amenities that include a washer and dryer in each unit, attached and detached garages, a “resort style” swimming pool, and a luxury clubhouse that will include a fitness center, basketball court, and community room.