News alert: Bernhard buys RiverPlace site
Jim Bernhard has purchased a 1.3-acre tract of riverfront property in downtown Baton Rouge that Richard Preis has long tried to develop into a residential project called RiverPlace. Preis confirms the $3.3 million, all-cash deal closed Monday, just hours before the start of the new year. He declines to identify the buyer, though multiple sources tell Daily Report it is Bernhard. A call to The Shaw Group, where Bernhard is chairman, president and CEO, was not returned in time for publication. Preis says he does not know what the buyer plans to do with the site, but adds the buyer “shares my vision for the future of downtown.” Preis concedes he did not intend to sell the property, but adds when the offer came unexpectedly in mid-December “it was good for the buyer and good for the seller.” —Stephanie Riegel
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