THE BATON ROUGE AREA FOUNDATION
The Baton Rouge Area Foundation is ranked in asset value among the largest of more than 700 community foundations in the country. The Foundation has nearly $600 million in assets, with about half in real estate developments that share their profits for the betterment of all people.
The Foundation works in two ways to improve the quality of life across South Louisiana and the world.
One, the Foundation connects donors who open charitable accounts with nonprofits that provide services to the community. Over the last 50 years, fund donors and the Foundation have granted more than $350 million.
Two, the Foundation undertakes projects that solve fundamental problems and advance the communities it serves. The Water Campus is one of these projects. Others include creating The Water Institute of the Gulf to provide reliable science for guiding the Coastal Protection and Restoration Authority’s $50 billion plan for Louisiana.
The Foundation develops real estate for the public good through its real estate management firm, Commercial Properties Realty Trust.
COMMERCIAL PROPERTIES REALTY TRUST
CPRT works in partnership with the Baton Rouge Area Foundation as its real estate investment trust, managing and developing its property holdings. Together, the Foundation and CPRT have successfully redeveloped historic downtown Baton Rouge. Projects in downtown include The Shaw Center for the Arts, as well as the renovation of the Hilton Baton Rouge Capitol Center from an abandoned hotel.
As a result of an innovative partnership, the State of Louisiana, East Baton Rouge Parish Government, CPRT and the Foundation are building offices to house 800 IBM employees in a new software development center on the river. Further, this collaboration is triggering the expansion of computer science programs at LSU, as well as riverfront redevelopment in downtown Baton Rouge.
CPRT is also redefining downtown living in Baton Rouge with two residential buildings under construction. Onyx Residences is a five-story urban apartment complex with 28 one- and two-bedroom apartments built above 5,600 square feet of commercial space. The other residential building, 525 Lafayette, is Baton Rouge’s newest and most exciting downtown address. Connected to the IBM Complex, 525 Lafayette occupies a prestigious place on the bank of the Mississippi, boasting 85 riverview apartments and 6 separate luxury town homes.