A local group will invest $5.1 million in a north Lafayette residential neighborhood with the intention of bringing affordable homeownership to residents.
The group led by developer Ravi Daggula bought 83 residential properties in the Bayberry Point neighborhood with an aim to bring sustainability and economic development to the area. The project is in conjunction with First Horizon Bank and partnerships with organizations like One Acadiana, Lafayette Economic Development and the Greater Southwest Louisiana Black Chamber of Commerce.
State Sen. Gerald Boudreaux, D-Lafayette, announced the transaction for the neighborhood, which lies near the intersection of North St. Antoine Street and Hammond Road. The seller was Olympia Management of Alabama…