The McEnery Company was engaged by a national lender to appraise the Phase II portion of the Lafitte Greenway Apartments in the 4th Quarter of 2018. This 142 unit apartment complex will be located along the Lafitte Greenway in the Mid-City neighborhood and will feature 1 bedroom, 2 bedroom, and studio unit apartments. The Edwards Group out of Ohio is developing the property in conjunction with their Phase I development located adjacent to the subject property. The property will include ground floor retail, off-street parking, bicycle space, and outdoor landscaping/patio areas.
The scope of work of this assignment required As Is, As Proposed, and As Stabilized market value conclusions. An exhaustive market rent survey was performed in order to conclude a reliable value conclusion.