The market will dictate the future of the Lafayette high-rise project

0



The next few months are crucial in a dizzying plan that could change the skyline of Lafayette.

In June, Cliff Guidry, owner of Guidry Land Development, announced plans to Seven16 Tour Lafayette. The 20-story project next to the Lafayette Federal Courthouse is expected to include parking garages, commercial spaces, a hotel and condominiums.

“The market is going to dictate what happens with the project and whether it goes ahead or not,” Guidry said. “All I know is I’m making a 100 percent effort.”

Guidry, originally from Lafayette, has mainly developed housing estates, but he is expected to inaugurate his first skyscraper next month: Atlas condominiums in Orange Beach, Alabama.

For Seven16 Lafayette Tower, commercial and residential spaces are offered by The Gleason Group.

“We have a commitment [Thursday] for a hotel, floors eight through thirteen are now under contract, ”said listing agent Will Taylor. “About half of the building that we hope to pre-sell before construction begins.”

Residential Advertisement for Seven16 Lafayette Tower also went public this week. The price of condos ranges from $ 600,000 to $ 2.4 million. Jim Hummel from KATC asked Guidry if he thought there was a market for condos.

“I guess we’ll both find out, right?” So I’m not so sure, ”he said. “The initial vision was not for downtown condos. And a number of people have told me to keep an open mind because studies show there is a need for downtown condos.

The high price, design and location of the project also drew criticism and even ridicule from some on social media.

“All of these negative things that I don’t have time for,” Guidry said. “If I focused on this, I wouldn’t be able to do my job. “

Guidry says development is currently in a due diligence phase. The space can be booked for a $ 10,000 deposit, and in the fall the developers will be assessing where things stand.

“We have to have enough sales to move this thing forward,” Guidry said. “So I’m not saying that it’s 100% certain that this project is going to happen, but we are working in that direction. “

If all goes as planned, construction of the first tower could begin in early 2022. The project could be completed by 2024.

————————————————– ———-
Keep in touch with us anytime, anywhere.

To join the newsroom or report a typo / correction, click HERE.

Sign up for newsletters sent by email to your inbox. Choose from these options: Latest News, Evening News Headlines, Latest COVID-19 Headlines, Morning News Headlines, Special Offers

Follow us on twitter

Like us on facebook

Follow us on Instagram

Subscribe to our Youtube channel





Leave A Reply

Your email address will not be published.