LCG has re-issued a Request for Proposals (RFP) for two undeveloped parcels adjacent to the Buchanan Garage.
The Lafayette Downtown Developement Authority says that the previous RFP issued in 2018 included the garage, however, the Parish Council recently voted to allocate $3.5 million to renovate the garage.
The site in this RFP is comprised of two parcels totaling approximately 0.9 acres, located along the 800 block of S. Buchanan Street with some frontage on W. Convent and Jefferson Streets.
According to the RFP, LCG envisions the Buchanan Redevelopment Site as an opportunity to enhance the value of the site while meeting the following goals:
- Leverage the expertise of the real estate industry to reposition the Buchanan Redevelopment Site as a viable asset
- Redevelop the Buchanan Redevelopment Site to its highest and best use
- Provide a lucrative financial return to LCG
- Deliver a redevelopment that recognizes current best planning practices
- Supports the Downtown vision of a vibrant, walkable, mixed-use center of commerce attracting employers, residents, tourists, and shoppers
- Contribute to the vitality of Jefferson and Buchanan Streets, Downtown Lafayette, and greater Lafayette Parish
"This commitment to funding infrastructure improvements resulted in a more market-friendly RFP. We are hopeful it will be more attractive to the development community and garner responses that meet the priorities of the Downtown Action Plan," DDA CEO Anita Begnaud said in a release.
Notification of intent to propose is due November 2, 2020. The deadline for RFP responses is January 4, 2021 at 4:30 p.m.
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