Case Study: HRI Communities
Bottle Art Lofts
The Bottle Art Lofts development breathed new life into an underutilized block with blighted historic buildings while creating a resilient residential community for local artists.
The “Four Corners” intersection and neighborhood once stood as a hub of Lafayette community, culture and commerce, however more recently it had remained neglected and disinvested. In 2020, HRI Communities made a catalytic investment in the Four Corners neighborhood and transformed a vacant and blighted Coca Cola bottling building and adjacent warehouse into a 40-unit affordable artist housing property, known as the Bottle Art Lofts (Phase I). This first phase of Bottle Art Lofts opened in May 2021 and includes a computer center, fitness studio, shared art studio, art gallery, picnic area, community garden space and gated parking. The property has a partnership with the Acadiana Center for the Arts (AcA) to feature and promote community-oriented art exhibitions in the art gallery, known as the MoreArt Gallery.
Shortly after construction began on Bottle Art Lofts Phase I, HRIC started construction on an adjacent, new construction 65-unit multifamily building which is the second phase of the Bottle Art Lofts community. This phase has the same affordability components and leasing preference for artists and was completed in April 2022. This second phase also includes various disaster resilient and environmentally sustainable design features with a certification from Enterprise Green Communities and the first ever designation from the Insurance Institute for Business and Home Safety as a FORTIFIED Multifamily Gold structure. The resilient and sustainable features of the project include: a permeable paving system, rain cistern, chambermaxx subsurface stormwater retention, enhanced roofing system, impact windows and wall systems, floodproofing materials for the first floor, raised electrical and mechanical system, improved insulation, high-SEER HVAC, and a natural gas generator for life safety systems, as well as to power all unit refrigerators.
Residents of both phases have access to all amenities on the property, which serves as one residential community. The Bottle Art Lofts community has breathed new life into one of the underutilized “Four Corners” and serves as a catalyst for other public and private reinvestment initiatives in the area. Project financial partners include: the Louisiana Housing Corporation, Louisiana Office of Community Development, Lafayette Consolidated Government, Acadiana Planning Commission, First Horizon Community Investment Group, Enhanced Capital, Berkadia Commercial Mortgage, and JPMorgan Chase.