FAQs
What happened to the larger 700 Block Redevelopment Project?
Background on the 700 block of Public Road Request for Proposals (RFP)
In March 2019, LURA entered into an Option for Purchase of Property Agreement with the then-property owner of 705, 707, 709, and 711 S. Public Road in hopes of forming a collaborative partnership and facilitating the re-development of this commercial block in Old Town. Subsequently, in November 2019, with input from Lafayette residents, business owners, and other stakeholders, LURA published an RFP that resulted in the submission of two proposals from potential developers. Due to the COVID-19 pandemic and ongoing restriction of public gatherings, the community open house and plan review scheduled for March 2020 has been delayed.
LURA action on November 10, 2020
At the Nov. 10 LURA board meeting, members of the Authority voted unanimously to terminate the Option for Purchase of Property Agreement with the previous property owner, citing the inability to finalize the entitlement and selection process before the Mar. 16 agreement expiration.
What this means
Because LURA no longer has a financial commitment to the 700 block of S. Public Road, the property owner proceeded with selling the individual properties. Any new development will be subject to zoning regulations and rules pertinent to the Old Town corridor as well as LURA’s review.
“I want to thank the property owner and RFP respondents for their time, effort, and partnership during this process, “ said LURA Chair Kevin Muller. “LURA, as the public entity to affect revitalization and redevelopment in the downtown area, looks forward to any future efforts to improve or redevelop the properties.”
Can this property be turned into a public park?
It is not typical, or desirable, for an Urban Renewal Authority to own property for long periods which is why we are looking to sell the property. Once we sell the property, the new owner will have the responsibility of construction, maintenance, and operation of the new use. At this this, the City of Lafayette has determined this is not a key acquisition site as detailed in the Parks, Recreation, Open Space Master Plan.