Multi-phase Bottle Art Lofts celebrates completion of Four Corners neighborhood transformation : Redevelopment Grand Opening of Long Blighted Site Commemorated with Governor in Attendance : Project Receives One of First IBHS FORTIFIED Multifamily™ Designations Issued
LAFAYETTE, La. – Governor John Bel Edwards was joined by Lafayette Mayor-President Josh Guillory, Councilman Pat Lewis, Chief Executive Officer of the Acadiana Planning Commission Monique Boulet, Louisiana Senator Gerald Boudreaux, representatives from the Louisiana Housing Corporation, including Board Members AP Marullo and Willie Rack, as well as Interim Executive Director Brad Sweazy, Louisiana Office of Community Development Executive Director Pat Forbes, IBHS Managing Director of FORTIFIED Fred Malik, and Pat Trahan, Vice Chairman, First Horizon/IBERIABANK to celebrate the completion of the Bottle Art Lofts, a multi-phase adaptive re-use development with a leasing preference for artists on the site of the formerly distressed Four Corners neighborhood. Josh Collen, President of HRI Communities, served as emcee for the event having overseen the development of the project from conception.
“This complex has breathed new life into what used to be an underutilized neighborhood and will now serve as a catalyst for other public and private reinvestment initiatives in this area and beyond,” said Governor Edwards. “One of the most important aspects of this project is the safety and resilience that are built into it. As storms become more frequent and more intense, it’s critical that we create affordable housing that can provide a safe home for our most vulnerable residents. If we’re going to lead the country in disaster impacts, we’d better lead the country in how we prepare for and adapt to disasters. This development is a big step in that direction, demonstrating new techniques that can make all our housing more resilient in the future.”
A ribbon cutting and site tours for housing and economic development officials, project participants and stakeholders, along with food, music and artistic displays on behalf of the residents commemorated the transformation of the site. Additionally, the Insurance Institute for Business & Home Safety (IBHS) presented Bottle Art Lofts with a FORTIFIED MultifamilyTM – Gold designation highlighting the project’s commitment to design and construction practices proven to reduce the risk of damage from severe weather.
“The completion of this project is just the first of many that will revitalize a vital gateway into our city,” said Mayor-President Guillory. “The University Corridor Plan will completely elevate the experience of not only visitors to the city but our residents as well. I am proud of how HRI helped us to achieve this goal by transforming a once rundown eyesore into an architectural work of art.”
“The Bottle Art Lofts project, and others like it, are at the heart of HRI Communities’ mission, and today we celebrate the transformation of a historic part of Lafayette. We long wanted to utilize the creative culture innate to the city as an engine for revitalization, and this was the perfect opportunity to restore the Four Corners neighborhood to its former place as a vibrant, bustling city center,” said Collen. “We now offer current and future residents of the Bottle Art Lofts beautiful, resilient homes in close proximity to downtown Lafayette, with on-site amenities designed to once again foster a true community.”
RESTORING AN ICONIC NEIGHBORHOOD AFTER 40 YEARS OF DISINVESTMENT
Long blighted, the Four Corners once stood as a hub of Lafayette community, culture, and commerce. The neighborhood at the intersection of Cameron Street/Highway 90 and University Avenue was previously lined with restaurants, a theater and small businesses. The widening of U.S. Highway 90 displaced many cornerstone businesses resulting in a decline epitomized by the undesirable LessPay Motel, which became thought of locally as a hub for criminal activity.
Anchoring the site was the former Coca-Cola bottling facility which, built in 1948 and first owned by A.B. Freeman, was amongst Coca-Cola’s first bottling plants located in the State of Louisiana and is listed on the National Register of Historic Places. The bottling enterprise was later relocated in the 1970’s and eventually most of the adjacent properties became underutilized.
In 2017, the Acadiana Planning Commission received a $300,000 grant from the Environmental Protection Agency to assess contaminated properties of the Four Corners neighborhood. The planning commission’s ongoing interest in revitalizing the site helped attract HRI Communities to the Four Corners project. HRI then worked with Greg and Stephanie Cornay Dugan, owners of the bottling plant for more than 20 years, to obtain the building and surrounding properties to develop the Bottle Art Lofts.
The Bottle Art Lofts project has transformed the block, providing for rehabilitation of the historic bottling facility along with its associated warehouse building, which are now home to the first phase of the Bottle Art Lofts as well as for the demolition of the adjacent LessPay Motel, replacing it with a new, resilient, four-story modern apartment building that will serve as the second phase of the Bottle Art Lofts.
“Now that this project is complete, our citizens are able to see firsthand how investing in Lafayette’s existing cultural community can re-activate a neighborhood that was once a thriving part of Lafayette, thereby promoting the future creative efforts and improvements of the University corridor redevelopment,” said Boulet. “It has taken determination, persistence, and patience to make this happen but as you can see from today’s grand opening, it was well worth the wait.”
“Once a source of pride, the Four Corners area has seen an unfortunate decline over the past few decades,” said Councilman Lewis. “The residents of this neighborhood and the rest of the City of Lafayette have long-deserved revitalization of this landmark location to serve as a source of community pride, especially when welcoming visitors through one of Lafayette’s major gateways. The Bottle Art Lofts project is a great example of successful strides that could be made when the City of Lafayette and entities, such as HRI Communities, can partner in redevelopment efforts. The HRI team recognized the need to tackle disinvestment in Lafayette as a priority, for which we are grateful as this project’s footprint becomes completed.”
“Louisiana’s cities like Lafayette represent an investment already made in previous years of both public and private funds, and reviving this property demonstrates our fiscal responsibility,” said Sweazy. “The use of existing infrastructure and adaptive reuse of existing buildings restores the social well-being of the entire community and generates a sense of safety.”
“Lafayette is a historical, social, cultural and political core,” said Marullo. “The Bottle Art Lofts will stand the test of time and be a true testament for residents to have pride in their local heritage and identity.”
RESILIENT CONSTRUCTION AND DESIGN
Guided by LHC’s PRIME program, the Bottle Art Lofts Phase II project creates quality housing opportunities for the City of Lafayette with a principal focus on maintaining the habitability of these residential units during and after natural disaster events. This urgent need for disaster resilient housing was made apparent in the aftermath of Louisiana’s widespread flooding events in 2016 when damage to homes caused significant and lengthy displacement for many families.
In response, the Bottle Art Lofts Phase II’s planning, design and construction evolved based on a comprehensive analysis of hazard exposure and advanced planning aimed at identifying and mitigating potential impact from future natural disaster events. In addition to reflecting best-practices in resiliency from HUD, FEMA, LSU AgCenter, and OCD. Not only does Bottle Art Lofts Phase II implement the specific standards for sustainability with its certification under the Enterprise Green Communities, it received one of the first FORTIFIED Multifamily – Gold designations ever issued by the Insurance Institute for Business & Home Safety. Developed based on decades of IBHS research, FORTIFIED is a voluntary, beyond-code construction and re-roofing standard shown in lab tests and real-world events to strengthen homes, commercial buildings and now, multifamily properties against severe weather such as high winds, hail, hurricanes and even tornadoes.
“Every family deserves to live in a strong home, including the millions of people who live in multifamily housing. That’s especially important here in an area that has so frequently been battered by hurricanes,” said Malik, managing director of the FORTIFIED program. “HRI Communities utilized the FORTIFIED building standard to strengthen the roof and other potentially vulnerable components of the building, helping to ensure residents of Bottle Art Lofts will have a home to return to soon after severe weather hits.”
“As storms become more frequent and more intense, it’s critical that we create affordable housing that can provide a safe home for our most vulnerable neighbors. This development is a big step in that direction, demonstrating techniques that can make all our housing more resilient into the future,” said Forbes.
BOTTLE ART LOFTS TRANSFORMATION AND AMENITIES
Located at 1506 Cameron Street, Phase I of the Bottle Art Lofts provides for 40 residential units with amenities including community spaces with a computer center, fitness studio, shared art studio, picnic area, garden space and secure parking. Welcoming its first residents in June of last year, Phase I is currently fully occupied.
Today’s ceremony also celebrated the official completion of Phase II of the Bottle Art Lofts development, a four-story multifamily apartment building on the former site of the LessPay Motel, which offers 65 spacious mixed-income one- and two-bedroom apartments available in April of this year. Phase II also includes similar amenities to Phase I, such as a fitness center, community room and innovative, resilient design features. Interested parties should visit www.bottleartlofts.com to learn more and sign up for the wait list.
Additionally, the Bottle Art Lofts announced in September of last year a new partnership with Acadiana Center for the Arts that features and promotes community-oriented art exhibitions in its MoreArt Gallery.
“The Acadiana Center for the Arts is proud to be a part of helping make Bottle Art Lofts an inclusive part of the community by presenting rotating local artists in the MoreArt Gallery,” said Samuel Oliver, the organization’s Executive Director. “We’re excited to keep partnering with HRI Properties on more positive developments that help our unique culture thrive.”
BOTTLE ART LOFTS FINANCING
HRI Communities received awards from the Office of Community Development and the Louisiana Housing Corporation for Community Development Block Grant – Disaster Recovery funding to facilitate the development of both phases. Additional financial partners include: Iberia Civic Impact Partners as the Low Income Housing Tax Credit and Federal Historic Tax Credit Investor, Enhanced Capital as the State Historic Tax Credit Purchaser, JP Morgan Chase Bank as the Construction Lender and the Permanent Lender for Phase I, Berkadia Commercial Mortgage, LLC as the servicer of a Freddie Mac Tax-Exempt Loan for Phase II, the Louisiana Housing Corporation as Bond Issuer and Housing Finance Agency, and Lafayette Consolidated Government and Acadiana Planning Commission as additional lenders.
“Safe, affordable housing should be available to all,” said Trahan. “It takes extra effort and many entities working together to bring high quality housing to low to moderate income neighborhoods. The First Horizon/IBERIABANK team is happy to be partnering with so many friends to make this happen in this important historical neighborhood.”
About HRI Communities and HRI Properties
HRI Communities, an affiliate of HRI Properties, LLC, is dedicated to developing high quality, mixed-income and affordable housing that revitalizes neighborhoods. From artist lofts that infuse creativity while spurring economic development to sustainable housing developments that improve neighborhoods and address critical needs, HRIC excels in its mission of transforming underserved communities into places where people want to live, work and play.
HRI Properties, LLC (“HRIP”) is an internally managed, fully integrated owner, operator and developer of premium branded hotels and upscale apartments in top urban U.S. markets. Since 1982, HRIP and its predecessor have completed more than 95 projects involving more than $3 billion of total invested capital, which include over 6,900 apartment units, over 7,300 hotel rooms, and more than 1.4 million square feet of office and retail space. HRIP is a full-service real estate development company, with affiliated property management, architectural design and construction management services companies and is a national leader in the adaptive reuse of historic structures. For more information, please visit our website at www.hriproperties.com
About FORTIFIED
The FORTIFIED construction method is a voluntary standard that goes beyond standard building codes to help protect homes and businesses against severe weather. Backed by decades of research, FORTIFIED is a program from the Insurance Institute for Business & Home Safety (IBHS). More than 35,000 homes in the U.S. have been constructed to the FORTIFIED standard. Please visit fortifiedhome.org to learn more about FORTIFIED Home, FORTIFIED Commercial and FORTIFIED Multifamily
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