In the Daily-Report.com, Todays Headlines "Upgrading Apartments".

The new owners of Lakeshore Place Apartments at the edge of downtown, plan to invest roughly $2 million to upgrade the units. The apartment complex was purchased by Capital Housing Associates, which is owned by New Orleans businessmen who are among the largest apartment owners in the state. Capital Housing bought the apartments from Bob Dean in an auction for $3.2 million. James Favrot of Capital Housing said the company wants to improve the units to attract state employees, who are underserved with housing in the Baton Rouge area. The 140 apartments, about 80 percent occupied, fetch rents of $400 - $600. Favrot said the upgrade will raise rents over time but he didn't know how high the rates would go. The changes to the Lakeshore Place will take a year or more. Favrot said his firm had tried to buy Lakeshore from Dean before but couldn't come to terms. He wanted more than the company was willing to pay. At the auction though, Favrot paid a bit more than its undisclosed first run at the apartments. Favrot's firm could buy more apartments in Baton Rouge.

1st Lake Properties has apartment locations all over the New Orleans metro area - Metairie, Kenner, and 1stLake is constructing Palmetto Creek Apartments, a 216-unit complex in Elmwood Business area that will feature private garages, wood-burning fireplaces, oversized tubs, bookcases and enhanced sound-proofing. Also First Lake Properties is developing The Villas at Laketown and the Lakes of Chateau Estates North, both upscale residential communities in north Kenner.