Construction begins on Centennial Townhomes in Lafayette
Lafayette, Ind. - November 24, 2014 - The 10 Centennial Neighborhood
residents who pitched in a combined $130,000 of their own money to
help improve the historic area near downtown Lafayette have special
reason to celebrate this Thanksgiving.
Construction is slated to begin today, Monday, November 24, on the
first of 12 two-story townhomes on Fifth Street between Brown and
Cincinnati streets. Four townhomes are expected to be ready for
occupancy by late winter or early spring.
"I've always believed in the value of preserving this neighborhood and
returning it to the stature it once held," said Michael Hunt, a
Centennial Neighborhood resident who has worked over the years on
various neighborhood projects. "This area is a community treasure that
is again taking on the sparkle it well deserves."
A public/private partnership of the Centennial Neighborhood Investment
Group-the 10 residents who financially supported the project; city of
Lafayette Redevelopment Commission; and Lafayette Urban Enterprise
Association pooled their resources to purchase the site of the former
Midwest Rentals business at 506 Brown St. Lafayette real estate
developer John Teibel, 900 Place LLC, was selected for the project and
will build the townhomes, intended to be market rate, owner-occupied.
"Projects like this may not be simple to achieve, but in the end, the
rewards for the neighborhood and the city will be tremendous," said
Lafayette mayor Tony Roswarski.
"When local residents care and invest in their neighborhoods, everyone
benefits," said Dennis Carson, city economic development
director. "The neighbors' passion and persistence are the hallmarks of
this project, which certainly could be a model for other areas here
and other communities."
Ten of the townhomes will be 1,600 square feet, each with two
bedrooms, two baths, a private outdoor living space and two-car
garage. The remaining two units will be 3,200 square feet. Teibel will
construct four a year. Selling prices start at $179,000, plus the
costs of any custom finishes. The .8-acre site will feature 10 units
facing Fifth Street, one facing Brown Street and one facing Cincinnati
Street. The exterior design will complement other historic buildings
in the area, such as the nearby Italianate row houses as well as later
styles, such as Four Square and Arts and Crafts that are prevalent in
Platted in 1829, the Centennial Neighborhood is the city's
oldest. About 800 residents currently live in the 63-acre area, where
about half of the homes are historically or architecturally
significant. In 1983, Centennial Neighborhood was designated a
National Historic District and placed on the National Registry of
For More Information contact:
Dennis Carson, Director, Economic Development: 765-807-1090
Michael Hunt, President, Centennial Neighborhood Investment Group:
John Teibel, 900 Place LLC: 765-838-2406