Fieldhouse condominiums are located 600 yards from LSU Tiger Stadium.  They are being sold individually at www.CondoBid.com.   All pricing and unit details are located on the website.  You can make your selection at CondoBid.com and a purchase agreement will be mailed shortly thereafter.  You are bidding on the selection of the unit locations, not price, as this is a new release and we have the best pricing from the developer.  Prices range from $187,000 to $524,000 for a penthouse unit.

There will be a full time management company for the property which shall be paid through the monthly association dues.  If you want to rent or lease your unit, you can use this same company or hire your own.  Typically management fees in the Baton Rouge market are 10% to 15%, but you’ll have to make that determination.  Rental management fees for the onsite company have not yet been determined.  Regarding rentals, you can not rent to students as these are higher end units.  If you have a child attending LSU, you can rent to your student and a roommate, but general student rentals are prohibited.  Otherwise, you can rent to anyone you deem appropriate.  Game day rentals are allowed and in some markets similar units are achieving $250 to $350 per night.  Typical rental rates in Baton Rouge are as follows:

1 BR ($700-$1,250), 2BR ($1,220-$1,650), 3BR ($1,260-$2,685).  Of course there is no guarantee that a unit can be rented for any of these rates.

The required down payment is twenty-percent (20%).  More than half of the project has already been sold so don’t delay in selecting your unit.  The units that have been sold have been done so through purchase agreements and not reservations, therefore they have twenty-percent “non refundable” down payments.  The project is being built by Capstone Development, one of the southeast’s largest developers of university condominium units and apartment properties. 

This project will be built and construction is underway now.  Completion is expected to be mid December 2006, just in time for Spring Semester at LSU.  This is a really good project in a strong market, adjacent to one of the best followed college universities and football programs in the nation. 

Building A has a total of 40 units and Building B has a total of 64 units.  This is a pet friendly complex so pets are allowed.

Broker cooperation of two percent (2%) is being offered for each unit.

If you have any questions, please contact the developer’s representative, John Chapman at 205-414-6478.