A $21 million upscale apartment complex is under construction in Bossier City, near Interstate 220 and Shed Road. The managing partner of the family-run Fortis Company, Jeff Lowe, says the 240-unit LeRivage will be a cut above other apartment communities. He says one selling point will be its $1 million pool and outdoor living complex.
“I feel it’s different than any other property in Bossier at this time, in that it will offer the resident really a resort lifestyle," Lowe said.
This is Lowe’s first local apartment development. He owns five other apartment complexes in the Dallas area. He aims to add four more this year, with a target 3,000 apartment units in his portfolio. Interest rates are still very low and that is encouraging him to develop. He also said the market for apartment rentals is strong in a slowly recovering economy.
"The occupancy for multi-family is driven somewhat by the change in the economy," Lowe said. "The tougher, more strict qualifications for home ownership have driven some people to apartment living.”
Pre-leasing will begin next month for LeRivage, Lowe said, and tenants will start moving there in May.