The Lafayette Economic Development Authorityannounced the completion of a Market Value Analysis for the city of Lafayette on Thursday.
The study was done by Reinvestment Fund, a community development financial institution. To read it, scroll down.
A release states that "this milestone represents the latest in a series of deliberate, data-driven steps LEDA has taken since the Louisiana legislature formalized LEDA's expanded role as the region's redevelopment authority."
“Since LEDA’s redevelopment legislation was finalized, we have spent time building our team, engaging the right experts, and gathering the research and data needed to ensure every decision we make is grounded in evidence and positioned for real, lasting impact,” said Mandi Mitchell, president and CEO of LEDA. “The Market Value Analysis will be a cornerstone to bring together the data, partners, resources, and strategy to maximize the impact of each investment.”
According to the LEDA release, Market Value Analysis is a powerful, data-driven tool used by communities to guide revitalization and investment strategy. Rather than relying on anecdotal observation, the MVA creates an internally referenced index of a municipality's residential real estate market — mapping areas of high demand alongside areas of greatest distress and identifying every point on the spectrum in between. Using Census block groups as the unit of analysis, the MVA allows policymakers, planners, and investors to see variation in market strength and weakness at a granular, neighborhood level. Critically, it guides interventions not only to where there is clear need, but also to places where targeted public investment can stimulate private market activity and catalyze larger revitalization efforts. For Lafayette, the MVA establishes a factual foundation for how LEDA and its partners will prioritize redevelopment strategies — ensuring that public resources are deployed where they will have the greatest impact and that investment decisions are evidence-based, equitable, and strategic.
“Reinvestment Fund’s Market Value Analyses are designed to equip policymakers, investors and other stakeholders with the data they need to make decisions that will strengthen their communities,” said Sara Patenaude, Director of Policy Solutions for the Southeast at Reinvestment Fund. “We’re proud to work with LEDA and local partners to lay a strong, data-driven foundation for a new phase of planning and development in Lafayette.”
LEDA's release says they "assembled a cross-sector Steering Committee to ensure the MVA reflected deep local knowledge and community expertise," with members including Latweeta Smyers, Lafayette Housing Authority; Erica Taylor, Realtor Association President, representing the private realtor community; Bill Bacque, retired long-time Lafayette real estate expert; Alex Lazard, LPTFA and EDD Administrator; Melinda Taylor, Lafayette Habitat for Humanity; Cathie Gilbert, LCG Planning; and Anne Famoso, Planning & Development Consultant with experience at both LEDA and LCG.
This diverse group participated in data validation, field review, and strategic discussion throughout the process — ensuring the analysis reflects the real conditions on the ground in Lafayette's neighborhoods, the release states.
The MVA is one piece of a broader, coordinated strategy LEDA has been building since stepping into its new role.
The release provides this summary of work underway:
• Shortly after legislation was finalized, LEDA engaged the resilience practice team at CSRS to help build a framework for fulfilling LEDA's three-part mandate as a redevelopment coordinator, development authority, and land bank.
• LEDA engaged Anne Famoso, a seasoned urban planner with experience at both LEDA and the City of Lafayette, to help move private development forward and ensure alignment across institutions.
• LEDA launched a capacity building program to support local, small-scale developers — investing in the homegrown development talent that is essential to sustainable neighborhood revitalization.
• LEDA is formalizing its role as administrator of the Economic Development Districts at Mile Markers 101 and 103, positioning LEDA to help attract private investment to key North Lafayette gateway corridors.
• LEDA has joined a coalition of partners investing in a comprehensive Housing Needs Assessment being spearheaded by LPTFA in partnership with Lafayette Housing Authority and LCG — complementing the MVA with a demand-side view of Lafayette's housing landscape.
• LEDA is in early discussions with the City of Lafayette on a strategy for adjudicated properties, a critical component of effective land bank work and neighborhood stabilization.
• LEDA is already engaged as a Redevelopment Resource Navigator supporting the Northgate Mall redevelopment, one of Lafayette's most significant near-term opportunities.
"LEDA's plan is to layer MVA findings into its broader redevelopment plans and to integrate those efforts with complementary initiatives across the region, including the ETRT Economic Action Plan and the work of partners such as the Downtown Development Authority," the release states.
Here's the report:
You also can see the report here: www.lafayette.org/mva
