Another major development on the way to BR. Developer has bought 29 commercial lots for a development on Nicholson Drive. Possibly another TND. How many TND's are now open, being developed or planned in BR? Richy?
Lafayette development group has purchased twenty-nine residential lots along Nicholson Drive, which were being marketed together in an attempt to stimulate development in the area between downtown and LSU. Moreno Properties, headed up by oilman Mike Moreno, purchased the lots, which total more than 10 acres, in a deal that wrapped up earlier this week. While Moreno Properties would not disclose what it paid for all of the land, the company made eight purchases on Nicholson since November for a total value of $4.25 million. David Trusty, an agent with Gully, Phelps & McKey, packaged the lots together in 2006 when he got a group of homeowners along Nicholson to agree to sell together for the right price. In a statement, Matthew Emory of Moreno said the land was purchased for investment purposes. There have been rumors that a TND will be built on the site.