Gulf States Real Estate Services has completed the purchase of the 92-acre Versailles Business Park in Covington.

Developers are planning 16 different lots, which will include residential, medical offices and hospitals.

“We hope to bring some corporations to this area that will bring quality jobs and help boost every aspect of our economy,” said Michael Saucier, president of Gulf States, who partnered with commercial real estate agent Terry Blackwell for the project.

The duo has pre-sales pending in some of the lots while marketing is being done both in the area and across the country for other potential tenants.

The cost of land development is around $6 million, and the rest of the project will be between $150 million and $200 million.

Construction is expected to begin in July and be completed towards the beginning of 2016.

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