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CASTRO REAL ESTATE SERVICES WAS FOUNDED WITH THE GOAL OF HELPING CLIENTS WITH ALL THEIR REAL ESTATE NEEDS, ONE CLIENT AT A TIME.
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2020
In Business Since
195
Transactions
390
Clients Served
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Commercial
Developer has commercial aspirations for residential land on Burbank
By Domenic Purdy
A developer is looking to turn 33 acres of residential land on Burbank Drive into a variety of commercial ventures.
According to public records, Windy Gladney Jr. submitted a comprehensive plan amendment to the Planning Commision to change the current zoning of his property on Burbank, west of South Kenilworth Parkway, from residential to commercial use.
Gladney, who has owned the land for the last five years, has never developed anything on it. Since owning the land, he says that he has noticed an increase in businesses along the corridor, adding that he wants to be a part of this expansion in south Baton Rouge near LSU.
“It’s really more suitable to commercial,” Gladney says. “[I want] the land use to reflect the current area.”
Business Report
Residential
Louisiana Realtors leader urges agents not to panic over $1.78B verdict
By David Jacobs
A federal jury in Missouri has found the National Association of Realtors and some residential brokers liable to pay $1.78 billion in damages for conspiring to inflate commissions, which could establish a precedent and lead to copycat lawsuits in other states.
The head of the Louisiana association defends the current system and stresses to agents that the decision, which will be appealed, does not affect their businesses―at least not yet.
“We’re asking everybody to be patient,” Louisiana Realtors CEO Norman Morris says. “Don’t panic. Continue to do business as you have been doing until further notice.”
The plaintiffs take issue with the “cooperative compensation” rule that requires listing brokers to offer compensation to buyers’ brokers in the Multiple Listing Service. They claimed the practice violates antitrust statutes and inflates costs for buyers, who in many cases are able to find a house online without help from a professional.
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