21 deposits placed
BERWICK, La. — Deposits have been placed on 21 of the 33 lots in Phase 5 of Renwick Subdivision.
Gary Beadle, Berwick Planning and Zoning director, said another deposit is pending today and six new inquiries have come in since lots became available May 30.
Once the 21 sales are finalized, they will mean about $1 million in revenue to the Berwick Development District and eventually to the town, Beadle said. Lots average $50,000 each.
According to the district budget, Renwick lot sales are expected to bring $1.6 million in to the town over the fiscal year and about $90,000 would be profit.
Berwick is the only public entity in the state that develops and sells subdivisions, according to Mayor Louis Ratcliff.
The plots are $4.15 per square foot and range from 10,000 square feet to 17,000 square feet. It was the first-come, first-served sale requirement that brought the prospective buyers to town hall around 2 p.m. May 29 for an overnight stay. A total of 13 lots were being sought by the campers on the first day of the sale.
A deposit of $2,000 is required at the time the buy-sell agreement is signed.
Lot owners are required to begin construction no more than four years from the date of the sale with completion in two years.
For more information about the sale process or to obtain a plat of the lots for sale, call Carla Loupe of Thorguson Realty at 985-384-3700.