As noted in the Plan, Historic Spanish Town and Beauregard Town are valuable assets that cannot be underestimated. Many initiatives in the Plan are designed to protect the integrity of the two historic neighborhoods. But it is crucial to increase the number of residential units in downtown, both upscale and mixed income. The issue of affordable housing in or adjacent to downtown has been the subject of meetings with Congressman Richard Baker, Baton Rouge Area Foundation, Local Initiatives Support Corporation, Housing Authority of East Baton Rouge, Office of Community Development, and Mid City Redevelopment Alliance, CALEB Community Development Corporation and LSU School of Architecture. A Residential Task Force has met numerous times to hear presentations from New Orleans developers, non-profit banking entities, and local community development corporations.
In the Parish Assessor’s reevaluation of property values in 2000, there was a 2%-4% increase across the parish in property values, but an 11% increase in downtown property valuations.
A project is underway that will have great impact on the residential density of downtown. Developer Richard Preis bought the riverfront property now occupied by General Lafayette Inn and plans to build a 140-unit highrise condominium development with office and retail space included. Preis retained architect Russell Washer of Washer, Hill & Lipscomb to design the building.