Extra downtown household: Old mail processing building to be converted to apartments | Small business

Far more downtown Lafayette apartments are in the pipeline as a developer has started converting the former mail processing making on Cypress Street into 5 units.

Architect Dillon Van Way with DVW Homes will change the 5,000-sq.-foot previous DMS Mail Administration creating at 136 E. Cypress St. into five residences that could be obtainable for tenants by February.

The venture, to be referred to as Cypress Flats, is another household project slated for downtown, which experienced 54 units open up previous calendar year and has at the very least one more 145 planned with a 2nd section of Vermilion Lofts with maybe 40 models announced past calendar year.

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Cypress Flats will element two one particular-bedroom, just one-tub units with three two-bed, two-tub models, Van Way mentioned. A great deal like the Previous Federal Courthouse task, it will be great for students or younger pros amid a escalating demand from customers for downtown housing.

Downtown Lafayette Authority officials have a goal of 500 units by the 12 months 2025. The 7 16 skyscraper undertaking could also element condominiums.

We will preserve you posted on the Acadiana economic system. Indication up these days.

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“At the stop of the working day it is a new market place,” Van Way stated. “Everybody has been contacting for it. I believe that the market place is there, but it’s nevertheless untested. I really don’t know if there’s ample people today doing work downtown — youthful professionals — that could help it. The backup is we’re near sufficient to the college that it could be terrific for students, as well.”

The building, which Van Way bought in April, was crafted in 1948 and at first housed the Dalferes Cigar and Tobacco Co. ahead of it bought to DMS in 1996 for $75,000, land data present.

The vacant constructing was an opportunity for Van Way, who graduated from LSU in 2016 and has done house development jobs alongside St. Antoine Street in north Lafayette space of Fightinville. People tasks have been thriving, he explained.

“I’m at the level in my job exactly where I’d do everything from a doghouse to a skyscraper — just check out not to starve to death in between,” he reported. “I wasn’t likely out of my way to be downtown, but I am mindful massive points are going on. I’m often seeking for possibilities seriously any place.”