Taryn Eilers, a pre-nursing sophomore, moved into one of themost high-end apartment complexes near campus.
“It’s nice, there is a gorgeous pool you can always go in,tanning beds you can actually use, there’s a big theater room withmassive reclining chairs with a big screen and you can go out [tothe community center] and get breakfast and coffee in the morning,”Eilers said.
Eilers recently moved into the Venue at North Gate, an apartmentcomplex offering amenities such as a fitness center, tanning beds,garage parking, valet dry cleaning and a maid service.
Eilers does not think that, contrary to what people might think,the apartments are only for older students.
“I’m only a sophomore but I know some people who live here whoare my age or even freshmen,” she said.
The two newest apartment complexes near campus are the SouthgateTowers on the corner of Nicholson Drive and Burbank Drive, and TheVenue on West State Street.
Southgate Towers
Southgate Towers currently are in construction, with 175 oftheir total 344 apartments scheduled to be completed between Aug. 7and Aug. 15, said Shana Babin, a leasing associate for SouthgateTowers. The company will complete the remaining apartments beforethe end of this year.
Condominiums also will be available at Southgate and will beready for tenants in fall 2005, Babin said.
Babin said studio apartments cost the least at $755 a month. Thehighest rent is for a four bedroom apartment costing up to $2,868,she said.
Trey Duncan, another leasing associate at Southgate Towers, saidthe apartments are not geared toward students.
“We’re geared to young professionals and retirees,” he said.
But Duncan said they have interested students because of theproximity to campus. Students who are interested must meetqualifications to rent one of these apartments, he said.
Duncan said anyone who wants to rent an apartment must gothrough an application process including an income requirement,credit requirement and a background check.
Duncan said the prices for the apartments reflect theirpotential leasers.
“Being we’re not targeting students, we’re not looking forstudents to be able to afford it, but if they can afford it and doqualify — then hey, come on,” he said.
The Venue at North Gate
The Venue at North Gate’s first building was completed in June,while the second building is scheduled to be completed by Aug. 16,according to their Web site.
According to leasing associates, studio apartments at The Venuestart at $498.
Individual leases for multiple-bedroom apartments can be from$550 to $570 — depending on whether it is furnished orunfurnished.
Eilers said The Venue is not just for older students, but it isalso not for everyone.
“It’s probably for more serious students from the way it’s setup — it’s not really open,” she said. “It’s good for youngerstudents who have never lived in an apartment, but it’s also goodfor older students because it’s quiet.”
Eilers said there are many reasons why a student would want tolive in one of the newer apartments near campus such as theVenue.
“We don’t have to worry about appliances — they are brand new,”she said. “Everything is clean; I don’t have to worry about whatother people did in the apartment before me because I’m the firstone in it. If you get it furnished, nobody has used your bedbefore, nobody has used your couch before and nobody has used yourbathroom before.”
The Venue did not return phone calls from The Reveille by presstime.
Ideal for students?
L.J. Firmin, an owner of investment properties around BatonRouge, thinks high-end apartments are a trend.
Firmin, who owns several houses and apartment complexes, said heis not even in competition with large apartment complexes such asThe Venue and Southgate Towers, because his market is for olderstudents who move out of that type of housing and are looking forsmaller, more private homes.
“The more they build, the better it is for the smaller apartmentowners because they will live there for only a short term,” Firminsaid.
He does not think most students can afford to live in high-endapartments.
“I just cannot imagine very many — if any — students havingthat kind of discretionary income,” he said. “This is a stateschool. They don’t even have that kind of housing at Harvard andYale. I don’t think the amenities are there to justify therent.”
Firmin said these new apartment complexes are built close tocampus because of the University’s popularity.
“A lot of these complexes are owned by out-of-state conglomeratecomplexes,” he said. “It’s a baseline — LSU is not going anywhereelse,” he said. “Where it is [now] is where it is going to be untilthe end of the world. So any property around LSU is going to beworth a lot.”
As for the clientele, Firmin does not think non-students willwant to live in an area close to campus.
“I cannot imagine anybody who is not a student wanting to livethat close to campus and put up with the inconvenience,” hesaid.
The future of high-end housing
In addition to the condominiums at Southgate Towers, morecondominiums will be built next to One Lakeshore Place, on StanfordAvenue across from the University Lakes.
Mike Wampold, Chairman and CEO of Wampold Companies, owns OneLakeshore Place as well as other apartment complexes around BatonRouge, and is building the new condominiums.
Wampold said all of his apartments are geared toward olderstudents and professionals, and the condominiums will be thesame.
Wampold said non-students want to live near campus for manyreasons.
“LSU has so many different interests — you’ve got the sportscomplex there and you’ve got continuing education, you’ve got thearts and music,” he said. “Plus, you’ve got the beauty of thecampus and you’ve got the lakes right there.”
Wampold said University alumni also might wish to live neartheir alma mater.
“LSU alumni have a high regard and an affinity for the schooland so forth,” he said.
Wampold said he has had the idea to build the condominiums for10 years now, and the trend is nothing new.
“This has been going on for a while across the country and it’sfinally reached Baton Rouge,” he said. “It’s not a new concept atall. People are looking for lifestyle, people are looking tosimplify, for someone to take care of the grounds, a swimming pool,but one taken care of. They don’t want to have to be paintinghouses.”
Wampold said his condominiums will be based on service andconvenience.
His condominiums, like Southgate Towers, will not be geared tostudents, either.
“We’re going to have strict rules and regulations, it’s notgoing to be a student kind of place at all,” he said.