The building that occupies the space on the corner of Jefferson and Main was once known as the Federal Courthouse. In the future that building and two others or at least buildings on that piece of property will be known for something else now that the Lafayette City-Parish Council has approved the sale of the property.

The new owners of the buildings say they plan on developing the property into a mixed-use space. Among the uses for the space are a proposed 68 downtown apartments. There are also plans for some commercial applications in the three-building complex as well.

Under the agreement reached between the City-Parish Council and developers OFCH, LLC , there is a stipulation that construction on the project must begin by July 1st of next year and be completed by December of 2020. The developers would be subject to a $20,000 per month fine for each month the project isn't complete.

Many civic and political leaders are pointing to this agreement as a catalyst for downtown redevelopment and rejuvenation. There is speculation that more lenders and developers will now take an interest in investing in downtown. The property in question had been vacant for several years prior to these recent developments.

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