Construction has kicked off on a brand new 92-acre mixed-use business and retail park on the North Shore in St. Tammany Parish, called the Versailles Business Park.
Gulf States Real Estate Services closed on the land in June, and envision a CBD-like development that will house office, retail, residential, medical and hospitals. The development comes with an estimated $200 million price tag.
Michael Saucier and Terry Blackwell, both of Gulf States Real Estate Services, are the developers on the project.
The developers have stated that the land development will be between $6-10 million, with total costs to run up to $200 million.
“We hope to bring some corporations to this area that will bring quality jobs and help boost every aspect of our economy,” said Saucier in a statement.
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.
They expect the first portion of the park to be done in early 2016.