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Tuesday, March 26, 2019

The Standard At 509

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Move-in date is near; apartments available

Shreveporters are getting more options to experience downtown living with the first of 72 apartments coming available for lease at The Standard 509, located at the corner of Texas and Market streets.

Wesley Fulfer, property manager for the building, said workers are putting the finishing touches on units on the first few floors. He said he was glad to see that construction was catching up with interest in the building.

“For the longest time, people kept hearing that we’re opening, and it had to be delayed because the construction needs to be done properly,” Fulfer said. “Finally, we have a real move-in date. Some people jumped on it immediately the day it was available.”

Neil Kapadia is a principal with ViaNova Development, the group that owns the building. Based in Chattanooga, Tenn., ViaNova has developed several historic properties in the Midwest and Southeast.

“We are really excited,” Kapadia said. “We’re still in the process of building out the amenities. But we do want to extend our gratitude toward the Downtown Development Authority and City of Shreveport for making this come to life. It can be hard with out-oftown developers. We want to revitalize downtown. If there is anything the city needs from us, we are very excited to be involved in that.”

When construction is complete, the building will have 72 studio, one- and two-bedroom apartments, ranging from 300 square feet to about 900 square feet.

The units include new appliances, high ceilings and, in some cases, exposed brick. The apartments also include large windows offering views along Texas Street, Market Street, the Shreveport skyline and more. The pet-friendly building will feature a dog park on a portion of the roof of the first floor, so residents can take pets outside without going to ground level.

Fulfer said rent for the units starts at about $650 a month and goes up to about $1,450 a month, including water. Renters also have secured, covered parking and a secure entrance into the building.

The Standard 509, formerly known as the Commercial National Bank Building, is attracting a lot of attention for its modern conveniences and historic character, Fulfer said.

“It’s a little bit different than the usual, and I think people like the uniqueness, especially being in a building over 100 years old,” he said. “You don’t really get to see it that often, and they really renovated it very well. So, you get a nice, modern, brand new space with new clients, but you get the character of the nice, old building.”

The building will offer more than downtown living. The apartments are on the second through 10th floors and the main floor will include commercial spaces, including a food court. It also will include a fitness center and a media and business center. The mezzanine will feature micro-office spaces available for rent.

“What makes our building such an asset to downtown is it has so much great retail space and great visibility,” Kapadia said. “From our standpoint, what we are hoping to build in retail that adds to the fabric of the city. We want it to be an amenity for residents and for the office buildings and others who live downtown.”

He said the food hall would be one of those spaces.

“We are building a space where you can have multiple dining options,” he said. “Several quick-service options, with a bar in the middle. Lots of choices for lunch or an early dinner.”

Kapadia said ViaNova is seeking other commercial tenants for the main floor.

“We want to partner with the right people with enthusiasm for downtown,” he said. “We believe as we get move-ins it will make things easier. We have come a long way.”

Fulfer said he is glad to be part of a team breathing new life into an old downtown building.

“There’re so many buildings down here that are just empty,” he said. “If you’re here at night, you see which buildings have offices in them because they have windows lit up. And then you see these tall, multi-story buildings that are just completely blacked out. No lights on because no one’s using them. There are wonderful, historic buildings like The Standard. So there’s definitely room to grow.”

Fulfer said tours are available for anyone interested in renting either the residential or commercial space. To learn more or schedule a tour, visit www. thestandard509.com, or call (318) 505- 5254. Fulfer recommends scheduling a tour in advance while construction continues in the building.


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