Workers broke ground Wednesday for luxury condominiums that will be built across the street from the LSU lakes on Stanford Avenue.
  Wampold Companies is building Crescent at University Lake, a 90-unit, three-story condominium complex with a first-story parking garage. Construction will begin soon on the complex that is modeled after the University’s Mediterranean architectural style, and will be completed in the spring or summer of 2007, said Brian Dantin, a broker and agent for Wampold Companies.
The units start at $280,000 and can cost as much as $700,000.
Mike Wampold, CEO of Wampold Companies, owns the purple-painted brick building, which made headlines last fall when it was vandalized. The building will be knocked down to make way for the condominiums. Wampold also owns One Lakeshore Place apartments on Stanford Avenue.
Dantin said there are no upscale condominiums like Crescent in Baton Rouge.
“It’s a new concept,” Dantin said, more similar to complexes in Dallas and Houston.
Dantin said agents from Wampold Companies traveled throughout the country and looked at different developments for Crescent’s concept.
Walter Morales, former Stanford Place neighborhood’s Civic Association President and University finance instructor, said the complex is “a little grander, and it fits in better with the area.”
Although the condominiums, built with extra storage and large bedrooms, are geared more toward retired clientele, all age groups can buy into Crescent.
“Some students will be interested, but it is also suitable for professors,” Morales said. “A lot of faculty invest in condos.”
Crescent is not Wampold’s first attempt to develop the land. Wampold bought the property in 1985 and tried to develop it into a 336-unit complex in 1990, but he was met with resistance from area residents who voiced concerns about traffic and drainage to the Planning Commission.
Wampold, who was trying to get the commission to vote in favor of his project, eventually dropped the plans to build.
“Neighbors went to war against the project,” Morales said.
Residents of Stanford area neighborhoods are always worried about having renters, including students, living in their area, Morales said.
The quality of the apartments depends on the landlord, Morales said.
Morales said residents did not want the apartments and condominiums to look like developments on the north side of campus. They were also concerned with the possibility of increased traffic.
Another developer proposed to build Lakeshore Place, a 44-lot subdivision, in 1992, but that deal fell through as well, according to the Business Report.
Wampold proposed a third project, Renaissance Point – a stepping stone between the apartment and complex format and Crescent at University Lake’s upscale amenities. Renaissance Point featured 88 condominiums and 120 upscale apartments, ranging from $150,000 to $250,000.
Residents came again to protest the project, Morales said, and the Commission denied Wampold’s project.
Wampold and another developer sued the city-parish in federal court, accusing the city of illegally diminishing the value of private land without compensation, according to the Business Report.
Wampold also sued the Commission, Morales said.
Wampold alleged that the Commission had rejected Wampold’s projects for “arbitrary and capricious” reasons, according to the Business Report. Wampold later withdrew the suit.
After withdrawing the suit, Wampold began to meet residents in neighborhoods adjacent to Crescent’s site and familiarize himself with the issues important to the residents, such as traffic, Morales said.
“He went back to the drawing board,” Morales said.
Crescent’s 90 units is a drastic reduction from the 1990 336-unit Harbours at Lakeshore complex, which, to Morales and other Stanford-area residents, means less traffic.
Although Wampold’s gesture may attempt to mend the rift between the developers and residents, Morales said it is not necessary.
“He’s in real estate and into building things,” Morales said. “That’s his job. He would much rather a consentual building, but if neighbors aren’t happy, he can still build.”
Wampold did not respond by press time Wednesday.
 
Contact Leslie Ziober at [email protected]