DALLAS-After finding success with an apartment project in Baton Rouge, LA, Prime Income Asset Management is moving forward with another development nearby, The Parc at Denham Springs.
Construction is underway on the 224-unit, class A project, which is situated on 12 acres at 31092 LA Highway 16. The multifamily project has a development price tag of $19.7 million, according to Al Crozier, executive vice president of residential construction. It was financed with a HUD 221(d)(4) loan.
Crozier tells GlobeSt. The Parc at Denham Springs is Prime Income Asset Management’s second property in the Baton Rouge market. The Dallas-based developer and investor opened the 166-unit Sugar Mill last year.
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