Unique Development Opportunity in Growing Ruston Area

Ruston, Louisiana continues to see growth and expansion despite pandemic and economic challenges. The flourishing growth has developed an avenue of potential exploration and investment in off-campus student housing.

Prior to 2019, a regulation was implemented emphasizing a max limit of three stories for on-campus student housing at Louisiana Tech, this limited how many rooms could be constructed in building development.

In 2020, NorthMarq announced news of $12.5 Million Financing for a 588-Bed Development Near Louisiana Tech University. According to the development’s website, The Preserve at Tech released a completion date of Fall 2021.

“As Louisiana Tech continues to grow enrollment, the strategic importance of the University to Ruston and Lincoln Parish is difficult to understate,” Professor of Economics Dr. Patrick Scott says. “It is the largest employer in the parish and every student that attends Tech sends out numerous capillary waves throughout the local economy.” - Read Full Source Here

Ruston, Louisiana is expected to experience a tremendous amount of growth in years to come in part due to the city of Ruston’s contributions that started in 2017 of over $80 million towards improving infrastructure. Another growth factor includes an expected increase in Grambling State enrollment from the recently implemented strategic plan to grow the college, the recent multimillion commercial development bringing in more national retailers, and the BUILD grant awarded to Ruston for transportation improvements.

Jeremy Knicely, Sealy Real Estate (SRES) Agent, and Owner of Jeremey Knicely Construction recently released a listing, the Pelican Pointe project, a unique opportunity for a potential build to rent development, single-family homes and/or student housing across 50+/- acres.

What makes this listing more interesting is that engineering, clearing, and city approvals required for development have already been approved.

The projected home sizes range from 1,600 - 2,500 SF. There are 162 total lots which equal a density of 3.25 lots/acre. One commercial lot contains 1-acre and can be used in a multitude of ways to bring added value. This development opportunity addresses the shortage of single-family homes in the 2,000+/- SF size range within this area and is an excellent location for student housing to support LA Tech University and Grambling State University.

Knicely emphasizes, “Differentiating Pelican Pointe Subdivision’s approved plat from similar developments in the area is connection throughout to municipal sewer, water, and electric utilities, adequate site drainage, a zero-dirt deficit plan, and 3 city approved curb cuts.”

The Pelican Pointe property is in Ruston, Louisiana just 1.2 miles south of I-20 off the new Tarbutton exit. It’s situated on the southwest corner of Highways 818 & 3012 between two of Lincoln Parish and northeast Louisiana’s largest universities, being Louisiana Tech and Grambling State.

The Pelican Pointe project differentiates itself from developments in larger nearby cities like Shreveport/Bossier due to a high demand with lower construction costs. Comparable homes in Shreveport are selling for as much as $10/SF less which creates opportunity for a better return. Due to the recent lift on Ruston’s moratorium for college housing and the expected growth, the demand for new residential construction has increased dramatically.

For more information on Pelican Pointe click here, or contact SRES Agent, Jeremy Knicely.