Fishman Haygood Assists Development Project in Lafayette
January 5, 2015
A new 58-acre multi-purpose retail shopping center is coming to Lafayette, Louisiana.
Ambassador Town Center, which will be located at the corner of Ambassador Caffery Parkway and Kaliste Saloom Road, is expected to open in March 2016. It will feature approximately 425,000 square feet of retail shopping space and will include major retailers such as Costco, Dick’s Sporting Goods, Field & Stream, Marshalls, HomeGoods, Nordstrom Rack, Chuy’s Mexican Restaurant, Panera Bread, and Freddy’s Frozen Custard & Steakburgers.
The developer is Ambassador Town Center JV, which is a joint venture owned by Covington, La.- based Stirling Properties and CBL & Associates Properties, a Tennessee-based company. According to Lafayette officials, Ambassador Town Center is expected to create about 2,200 construction jobs, 1,000 permanent jobs and generate nearly $9 million annually in sales taxes for the City of Lafayette. Public infrastructure improvements are being funded through a payment in lieu of tax arrangement (PILOT) as approved by The Industrial Development Board for Lafayette Parish.
Fishman Haygood attorneys Steven Serio, Sterling Scott Willis, and Tyler Marquette represented Ambassador Town Center JV in the transaction.
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