Landmark Properties, a Georgia company that develops apartment complexes aimed at college students, paid $9.7 million to buy up most of a city block on West Chimes Street.
The company completed the deals in a dozen real estate transactions that were filed Friday afternoon with the East Baton Rouge Clerk of Court’s office.
Last month, the city-parish Planning Commission approved plans for The Standard at Baton Rouge, a 247-unit apartment complex. The development will take up a 4.5-acre block bordered by West Chimes, Aster, Iowa and Alaska streets. It will be made up of a five-story apartment building and a six-story parking garage with a rooftop pool.
Construction of The Standard could start by the spring and the development may open in time for the 2014 fall semester.
Landmark Properties has student housing complexes mainly in cities such as Athens, Ga.; Oxford, Miss.; Tuscaloosa, Ala.; Knoxville, Tenn.; and Columbia, S.C.