Derbes Falgoust Commercial Real Estate
West Feliciana School Board to sell land for residential development
The West Feliciana School Board took another step Monday in its quest to sell about 19 acres of land in St. Francisville, signing a listing deal with real estate firm Mike Falgoust & Associates.
The property, on Feliciana Street, next to the Pecan Grove Neighborhood, is some of the last available land for development in that town. It’s listed at $1.4 million, according to an announcement from Mike Falgoust & Associates.
The school board said in June it planned to hire a broker by July 26 to sell the land within 6 months to a developer. The property is the former site of St. Francisville High School, which closed in 1979.
“They are looking for a local developer that will protect the integrity of the historic fabric of the town,” says Mike Gennaro, with Mike Falgoust & Associates.
The school district and St. Francisville Area Foundation have been working together to develop the property into a neighborhood within walking distance of downtown St. Francisville and the Mississippi River, for more than a year.
The potential neighborhood is the latest effort to develop in a West Feliciana residential market that has historically lacked supply—especially for first-time homebuyers and middle-class professionals.
Article Provided by The Business Report | Daily Report Staff | August 16, 2018