May 11, 2012 10:03 AM by AP
LAFAYETTE, La. (AP) - The Louisiana Housing Finance Agency has awarded the Lafayette Public Trust Financing Authority a $1 million grant to transform a brick warehouse near downtown into loft-style apartments for artists.
John Arceneaux, chairman of the Lafayette Public Trust Financing Authority, tells The Advocate the 15-unit development is estimated to cost about $2.2 million and construction could start in October.
The Public Trust Financing Authority acquired the warehouse, along with other buildings and an adjacent apartment development now under construction, for $1.1 million from the Acadiana Outreach Center in January. Arceneaux says the 15,000-square-foot warehouse is nearly 100 years old and its roof is in need of repair.
The apartments will be available for working artists who meet affordable housing income requirements.
11 hours ago