Stirling Properties’ River Chase is designated as a Louisiana Economic Development Certified Site
COVINGTON, Louisiana—- (DECEMBER 22, 2010) River Chase, a master planned, multi-use Stirling Properties’ development in Covington, satisfies all requirements set forth by the Louisiana Economic Development (LED) Certified Sites Program and has been designated as an LED Certified Site. After a rigorous review process by LED and URS, an independent third-party engineering firm, the certification means that River Chase is suitable for economic development projects.
“The LED Certified Sites Program is designed to make Louisiana more competitive for economic development deals by certifying sites that have the ability to break ground within 90 days because all rights to build are in place,” said Townsend Underhill, Vice President of Development for Stirling Properties. “River Chase’s new certification positions St. Tammany Parish for great economic success, and the Development Team at Stirling Properties remains committed to bringing national caliber businesses into the area.”
Since the inception of the LED Certified Sites Program earlier this year, LED has only certified two other Louisiana sites; the Donaldsonville Technology and Industrial Park in Donaldsonville and North Whittington Property in Shreveport. River Chase is now Louisiana’s third site, and only development in the New Orleans Metro, to be recognized with this significant honor.
Stirling Properties’ Development Team worked to receive this certification by performing due diligence with regard to legal control of the property for possible sale and/or lease, zoning restrictions, surveys, title work, environmental studies, wetlands permits, road and utility infrastructure, access to primary shipping routes, elevations, flood plain, soil analysis, traffic studies, and public infrastructure engineering. LED Certified Sites are identified by a special notation and logo. For additional information about LED Certified Sites, visit OpportunityLouisiana.com/Sites.
To view the Site Plan or for more information about River Chase contact:
Retail:Rhonda Sharkawy, Leasing & Development Executive | (504) 620-8145, or rsha@stirlingprop.com
Outparcel & Hotels:William Barrois, Sales & Leasing Executive | (985) 246-3736, or wbarrois@stirlingprop.com
Office:Lee de la Houssaye, Leasing Sales Associate | (985) 246-3774, or ldel@stirlingprop.com
Stirling Properties Sells Two Commercial Development Sites at River Chase
Tuesday, September 14th, 2010
Infrastructure Progress is Underway for Development’s Next Phase
COVINGTON, Louisiana – Since unveiling plans in April for River Chase, a master planned, multi-use development in the heart of Western St. Tammany Parish, Stirling Properties successfully closed two land sales and has begun construction on the next phase of development. In August, two prime outparcels were sold in River Chase. Lakshmi, LLC purchased a 1.795 acre tract to build a 54,000 square foot Candlewood Suites Hotel. This extended-stay hotel chain owned by InterContinental Hotels Group will house a combination of approximately 93 studio and one-bedroom suites. Also purchased was a 1.634 acre tract by Fidelity Homestead Savings Bank. The purchaser intends to build a new 5,500 square foot Fidelity branch location, the second in the Covington area, which will provide a full array of banking services to the community.
The next phase for River Chase began in June and includes work to construct roads and utility infrastructure. Stirling Boulevard currently provides access to the existing retailers by way of Brewster Road. Road work to extend Stirling Boulevard will be completed before Thanksgiving which will create access to an additional 74 acres of developable land and open the development up for future phases of River Chase retail. Mark Salvetti, Director of Project Management for Stirling Properties, explained that telephone and gas distribution along with drainage expansion are among the other additional infrastructure enhancements already in progress. Lighting and traffic signals are also under construction for Stirling Boulevard and Brewster Road along with comprehensive signage and branding upgrades.
“In an environment that has very little positive development activity, Stirling Properties is excited to be able to move forward with this project,” stated Townsend Underhill, Stirling Properties’ Vice President of Development. “River Chase will offer something unique to the community and is a project we are fortunate to be able to provide.”
To view the Site Plan or for more information about the development contact:
Rhonda Sharkawy, Retail Leasing & Development Executive (Retail)
(504) 523-4481
rsha@stirlingprop.com
William Barrois, Sales & Leasing Executive (Outparcel & Hotels)
(985) 898-2022
wbarrois@stirlingprop.com
Lee de la Houssaye, Leasing Sales Associate (Office)
(985) 898-2022
ldel@stirlingprop.com
