The McEnery Company provided multiple appraisals of the proposed Faubourg St. John Apartment development, a long-planned apartment development project in Covington, Louisiana. The project, which comprises a total of 240 units, has not yet commenced development. An introduction at this scale required a careful approach to determination of market supported occupancy and rental levels within the Suburban Class A apartment market on the North Shore. The assignment was also particularly unique in that the land had previously been developed as a for sale town home community with all streets, utilities and remaining infrastructure in place. Thus, the adaptive use to apartments was planned to be tailored into the existing and developed nature of the land.
