Archived

This topic is now archived and is closed to further replies.

breaux

Downtown Lafayette Hotel Closer to Reality

6 posts in this topic

hotellafayette.jpg

Hotel Closer to Reality

Developer gets preliminary approval for $20 million in Go Zone funds to build Hilton Homewood Suites

http://www.theadvertiser.com/apps/pbcs.dll.../604210315/1046

With the help of the federal Gulf Opportunity Zone Act incentive package, Lafayette attorney Jeff Speers received preliminary approval Thursday for a $20 million tax-free loan at a 4.25 interest rate to build a new hotel in downtown Lafayette next to the Federal Courthouse on Lafayette Street.

Share this post


Link to post
Share on other sites


That is some good news Breaux. The Hotel is going to look great in Lafayette. If it starts as soon as this Summer that will be great !

I also hear a $20 mil. Surgical Center and Office will get started in Abbeville too !

The people from the BR Camber of Commerce pushed this issue as well. The GO Zone funding was dragging-along in a stalemate. They had been waiting to hear something new since this past December. Now City Plaza II Office Tower in BR can start by this Summer too ! Finally !!!

Share this post


Link to post
Share on other sites

Good to hear, but why is Lafayette elligible for Go Zone funds? I've also heard that Baton Rouge is elligible as well. How do we expect people to re-invest in New Orleans and Cameron Parish if all these other places have the same incentives? Seems to defeat the purpose of the measure.

Share this post


Link to post
Share on other sites

The devestated areas of Cameron and Orleans will still get the bulk of the $ GO Zone funds. Lafayette and Baton Rouge areas are set to recieve a smaller portion, but still qualified.

Share this post


Link to post
Share on other sites

Good to hear, but why is Lafayette elligible for Go Zone funds? I've also heard that Baton Rouge is elligible as well. How do we expect people to re-invest in New Orleans and Cameron Parish if all these other places have the same incentives? Seems to defeat the purpose of the measure.

I think the hotel looks great, and I think it's a great thing for Lafayette, but I'm with Tsmith here... why are Lafayette and Baton Rouge eligible? If even for a small amount, the fact that they're eligible gives them an unfair edge over cities like Shreveport. I've heard this discussed recently, when a developer my wife is working with from Jackson mentioned they have some 7 new projects planned in "Go Zone" areas. Developers in Shreveport feel very slighted, because if cities like Lafayette and Baton Rouge are included, why aren't Shreveport, Monroe, Alexandria, etc?

I feel like the only areas in Louisiana that should benefit from any "Go Zone" incentives should be from greater New Orleans and areas southeast of there.

Share this post


Link to post
Share on other sites

I think the hotel looks great, and I think it's a great thing for Lafayette, but I'm with Tsmith here... why are Lafayette and Baton Rouge eligible? If even for a small amount, the fact that they're eligible gives them an unfair edge over cities like Shreveport. I've heard this discussed recently, when a developer my wife is working with from Jackson mentioned they have some 7 new projects planned in "Go Zone" areas. Developers in Shreveport feel very slighted, because if cities like Lafayette and Baton Rouge are included, why aren't Shreveport, Monroe, Alexandria, etc?

I feel like the only areas in Louisiana that should benefit from any "Go Zone" incentives should be from greater New Orleans and areas southeast of there.

I'm with y'all in that I don't think developments in Lafayette and Baton Rouge should be given incentives. Any and all money devoted to development should go to the areas that need it MOST.

At the same time, a hotel in Lafayette is a possible evacuation destination for people closer to the coast in case of a hurricane, and a surgery center in ravaged Vermillion Parish is certainly a valid investment.

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.