Construction Continues at $200 Million Business Park in St. Tammany Parish
Gulf States Real Estate Services is developing a 92-acre mixed-use business and retail park in St. Tammany Parish.
Versailles Business Park is being developed as a business district-type development with residential space, medical space, office space and retail. Gulf States Realtor and developer Terry Blackwell says sixteen lots will be established, some of which have pending pre-sales, the others which are being marketed to regional and national prospects.
Jason Reibert, vice president of Gulf States' construction division says the project is on schedule with the right of way having recently been cut and cleared. Gulf States is developing the infrastructure for the park which includes the extension of Holiday Square Blvd. along with 2,400 linear feet of paving and utilities. Site work will also include the construction of detention ponds and the installation of landscaping features and street lighting.
"Other than two existing utility relocations which had to occur due to the proposed improvements, the project has been progressing well with work scheduled to be completed by February 2016," says Reibert.
Artist renderings show a large water feature viewable from the interstate with green zones designed to buffer the development from the residential neighborhoods in the area. Centrally-located at the intersection of I-12 and Highway 190 in Covington, developers are hoping it will become the central business district of St. Tammany Parish.
The cost of land development is roughly $6 million with construction of facilities estimated to be between $150 million and $200 million. Larry Lloyd Construction Co. of Mandeville is serving as the civil general contractor.