Real Estate Recap: June 19, 2012

From the Real Estate Weekly:

On file: The number of construction projects permitted in East Baton Rouge Parish in May rose by 3.24% compared to the same month last year, the city-parish Department of Public Works reports. A total of 2,041 permits were issued in May, up from 1,977 in May 2011. However, total commercial projects permitted were down on the month: 57 this year, compared to 91 in May 2011. Total residential projects were also down to 127, from 160 a year earlier. Read the full story from Daily Report here.

Ciao: Enoteca Marcello's Wine Bar & Café at 4205 Perkins Road has been sold to the owners of Lafayette eatery Romacelli and was closed late last week for renovations, owner Gene Todaro says. "Romacelli will come in and make some changes and will be open by the end of July," Todaro says. The nearby Marcello's Wine Market at 4201 Perkins Road is not included in the sale, Todaro says, nor is the Marcello's Wine Market Café in Lafayette. Todaro says the sale "was just a good opportunity for both of us. They were looking to expand into the market." The sale price was not disclosed. To learn more about Romacelli, visit its website here.

Brand-new start: After nearly six years of sitting dormant, construction has resumed on the Bluebonnet Palms Office Park on Bluebonnet Boulevard at Jefferson Highway. Earlier this month, work crews began framing the 4,000-square-foot building that, when completed later this year, will become home to a downtown law firm. Groundbreaking is also expected in the next two weeks on a second 4,000-square-foot building that is currently under contract and will eventually house a physician's office. Read the full story from Daily Report here.

This week's poll question: Under current economic conditions, do you think it makes more financial sense to own a home or rent one?