5500 Weaver Rd, Lake Charles, LA 70605

An investment opportunity exists in the Lake Charles Southlake Village Development project. The seller seeks $3.5 million for this shovel-ready venture. The project is designed to accommodate 240 apartments in 10 buildings, constructed in one phase over 18 months. Lake Charles is experiencing an economic boom, with unemployment rates below 4% and a continuous influx of skilled labor. Approximately $118 billion worth of natural gas, petrochemical, and seaport-related projects are slated for construction between 2017 and 2027. Currently, $48 billion worth of projects are underway or approved for construction. An estimated 80% of the remaining projects will move forward, requiring up to 70,000 construction workers. Lake Charles has a population of around 92,000 people, and an additional 35,000 permanent residents are projected to require housing within the next decade. The demand for permanent housing is set to increase as mega projects progress and corporate offices relocate to Lake Charles. The city's natural gas pipeline infrastructure, the Port of Lake Charles, and the nearby Port Cameron contribute to new permanent employment opportunities. The property is situated on a 13.55-acre parcel in the 5500 block of Weaver Road, at the southern end of the city, where most residential development is concentrated. The city has expanded its infrastructure to accommodate the southward expansion. The partnership seeks a construction loan that will convert to permanent financing upon project completion and lease-up. A third-party market study and appraisal have confirmed the project's feasibility. The Lake Charles City Council has approved the project's zoning and site plan. The City Council approved the site plan and zoning application on October 4, 2017, and the project is fully entitled as proposed.