Baton Rouge developer Mike Wampold has purchased a tract in the Perkins Rowe development for $1.1 million from Terry Saban, the wife of Nick Saban, former LSU and current Alabama football coach.
Wampold said Friday he expects to decide within the next three months what he will do with the 1.8-acre site.
Wampold bought the land in a deal that was filed late Thursday with the East Baton Rouge Parish Clerk of Court’s office.
The land is between Orvis and the NeuroMedical Center on Park Rowe Avenue. It doesn’t have frontage on Bluebonnet Boulevard, Wampold said.
The plan is to determine in the next 90 days what to do with the land.
“We’re moving quickly,” Wampold said.
One plan could be a mixed-use development, with a hotel and a restaurant. A hotel had long been planned for Perkins Rowe, which opened in 2007. But that was put on hold due to the Great Recession and the financial troubles of Perkins Rowe. KeyBank National Association bought the development at a foreclosure sale in August, with an assumption being the property will be sold soon to an outside buyer.
Wampold already owns two hotels near Perkins Rowe: the Wyndham Garden at Bluebonnet and Interstate 10, and the Renaissance Baton Rouge Hotel at Bluebonnet and Anselmo Lane.
If a hotel is built in Perkins Rowe, Wampold said it would be different from his two nearby properties, both of which feature restaurants and bars.
“It would probably be a limited service hotel,” he said.