The Commerce Building is located in the heart of downtown Baton Rouge showcasing views of the Mississippi River and extensive resident amenities.
Location: Baton Rouge, LA
The Challenge: Highland was trusted to help facilitate substantial rehabilitation to the historic Commerce Building in downtown Baton Rouge. This financing included the Federal and State Historic Tax Credits, a private ground lease and a real estate short term tax abatement.
HCM Solution: Highland was able to assist in financing the Commerce Building by providing a section 221(d)(4) loan to redevelop and reinvigorate the previously vacant building into a Class A mixed-use property with 93 upscale residential units and approximately 6,246 SF of commercial space.
Community Effect: The Commerce Building prompted a resurgence in the area, as the access to downtown is a walkable distance. It is also home to multiple dining and bar establishments. Commerce building provides residents with upscale apartments in the Central Business District.
Loan Amount: $17 million
Loan Details: Section 221(d)(4)