The southeast corner of South and 3rd streets in downtown Lafayette will be transformed over the next year. Lafayette Community Bank is planning a two story building there for its main branch.
The former auto repair shop and title company structures currently there will be torn down soon.
Bank President and CEO Brad Marley says the goal is to have a groundbreaking for the new building soon.
"We need to secure the permits, but we think we can be in the ground in early November with idea to be finished with construction in about a year or so. We'd really like to be in there in fall of 2013 or so."
Marley says the alley between Blue Fin Bistro and the new building will be widened, which will allow the bank’s drive-thru traffic to enter from or exit to either South or Alabama streets. The city is making Alabama Street two-way between 3rd and 4th streets, instead of its current one-way pattern.
Marley says the move comes at a time when the bank has outgrown its current branch across the street.
"It's going to give us room for expansion, which we're growing and we plan to grow in the future, so we're going to need some room for that. In the current location, we have to lease some space nearby. The new building will be totally occupied by the bank, so that gives us some control."
He thinks the expansion shows the bank’s commitment to the area and long-term prospects.
The new building will have roughly 16,800 square feet of space and blend in with surrounding buildings.
"Archway windows throughout the second floor of the property. It will be predominately brick, but there will be some limestone and other stone accents. We'll incorporate limestone columns that will support a parapet roof design."
Marley says the parking lot will have 32 parking spaces, and there will be some on-street parking along the eastside of 3rd Street.
He says the current Lafayette Community Bank at South and 4th streets will be sold.