Industrial expansion and retail demand are the main drivers in Ascension Parish’s land market as residential developers become more selective, according to Peter Laville with Elifin. Laville says Ascension’s strongest momentum is currently tied to industrial growth in Geismar and along the west bank, where major projects such as Hyundai Steel are creating demand for support businesses, warehouses and laydown yards. Peter Laville, vice president – land sales, Elifin “Geismar is the hot hand right now for land sales in Ascension Parish,” Laville said. “Hyundai Steel, you’re going to see a lot of transactions come in associated with that, where a lot of these land sites may be purchased and turned into storage facilities, laydown yards, warehousing for all these new companies that are going to follow Hyundai Steel.” Laville says industrial growth is driving activity for smaller tracts, particularly sites between five and 10 acres that can accommodate local service and supply companies expanding alongside the region’s manufacturing sector. While residential development remains active, Laville says higher interest rates, zoning considerations and drainage regulations have made developers more cautious about where they invest. “Developers seem to be much pickier right now about what they’re going after, depending on whose district it’s in and what the current zoning is,” he says. Retail growth, however, continues to present opportunities. Laville says Ascension still has available land along Airline Highway, Interstate 10 corridors and Highway 30, with several pad-ready sites positioned for future commercial development. “We hope to see some of these guys start calling and expanding sites down there because there’s definitely people that don’t want to travel to Baton Rouge for certain goods and commodities,” he says.  Laville adds that the parish is trending positively, with industrial investment continuing to fuel growth across multiple sectors. “They’re allowing for smart growth,” he says. Tell us what Ascension business news you’d like to read. Email Ascension Business Report News Editor Jordan Arceneaux. ...read more read less