TRAPPEY
RIVERFRONTDIST.
your gateway TO HIGH RETURNS AND IMPACTFUL GROWTH
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Acadiana's Transformative Riverfront Development
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Location: Trappey Economic Development District. Development Space: 21.5-acre Trappey facility Community Assets: Adjacent to Beaver Park (42.8 acres), Heymann Park (40 acres), Lil Woods Playground (2.5 acres), and 17.9 acres of public land. Vermilionville Connectivity: Linked to the internationally renowned Vermilionville Living History Museum and Folklife Park. Design:Mixed-use riverfront destination envisioned by world-class architects. River Activation: Features water sports, boating, and kayaking to attract visitors and engage the community.
INTRODUCTION
The Trappey Riverfront District is uniquely positioned to redefine Lafayette’s riverfront, offering unmatched potential for investment and partnership.
The Trappey Riverfront District offers a transformative investment opportunity in Lafayette, Louisiana, incorporating 125 acres along the Vermilion River. This visionary project combines immediate revenue potential with cultural, recreational, and economic benefits.
Trappey Riverfront district
The Trappey Riverfront District is set to become one of Louisiana’s most transformative developments. Spanning 125 acres along the Vermilion River, it combines historic significance, strategic connectivity, and financial incentives to redefine Lafayette’s riverfront. Impact:Positioned to transform Lafayette’s riverfront into a vibrant mixed-use destination. Location:Incorporates 125 acres along the scenic Vermilion River. Significance:Blends historic value with modern development opportunities. Call to Action:A unique opportunity for visionary investors or partners to bring this ambitious project to life, backed by three years of planning and groundwork.
Visionary Investment Opportunity
Riverfront district experience
THE NEIGHBORHOOD
Unmatched Connectivity and
Project Connectivity: Integrates seamlessly with Beaver Park (42.8 acres), Vermilionville (40 acres), Lil Woods Playground (2.5 acres), and nearby areas to create a network of cultural, recreational, and economic opportunities. Master Plan: Features over 1,600 feet of publicly accessible riverfront and green space, which accounts for more than 25% of the land. Public Bridges: Two new bridges will connect Trappey to Beaver Park and Vermilionville, enhancing accessibility and community connections.
Integration
Partnerships with Lafayette Economic Development Authority (LEDA) and other stakeholders provide comprehensive support for the project. Benefits include hosting public events, promoting inclusivity, and creating Lafayette’s premier riverfront destination. The development will improve Lafayette’s quality of life while driving tourism, business, and investment.
Public-Private Synergies
Pedestrian Access and Connectivity
Strategic Financial Incentives
Historic Tax Credits: $15 million in secured historic tax credits to reduce development costs. State Grant Funding: $10 million from the Louisiana Capital Outlay Bill (HB2) for riverfront improvements. (PENDING) Economic Development District (EDD): A Cooperative Endeavor Agreement allows an extra $0.02 sales tax in the district to fund public improvements like parking, infrastructure, sewer, drainage, roads, and landscaping. City of Lafayette Funding: $5 million allocated for two bridges to improve connectivity between the Trappey project, Beaver Park, and Vermilionville Historic Village. (PENDING)
Phase 1 , 2 & 3
Temporary Activation of Phases 2 & 3
Phase 1 Programming Vision plan
CAPITAL ALLOCATION
Construction Debt: $99.8 million (65%) Historic Tax Credit Bridge Loan: $12.8 million (8%) Historic Tax Credit Investor Cash Contribution: $2.3 million (1%) Equity Required: $36.4 million (24%) Total Phase 1 Funding: $151.3 million
Phase 1 Sources of financing
Multifamily Development: $65.4 million (42%) Hospitality Development: $22.7 million (15%) Garage and Site Improvements: $30.1 million (20%) Commercial Development: $36.2 million (23%)
stabilized Year 1 NOI = $7,000,000
Phased Development:Project milestones are divided across three phases to mitigate risks and ensure consistent returns. Return Potential:The financial model anticipates net operating income (NOI) growth from $7.6MM in Year 1 to $12.2MM by Year 10, with a projected reversion sale yielding $182MM.
Phase 1 project overview
Total Return over 5 years $50,000,000 10 year $98,000,000
Year 10 NOI = $12,000,000
Total Investment Required:$36MM - $40MM in equity. Internal Rate of Return (IRR):16%, indicating a strong annualized return for investors over the project's lifecycle. Debt Structure:$99.8 million in construction debt, contributing 65% of total project costs. Historic Tax Credits:$15MM in credits, supplemented by a $12.8MM bridge loan and $2.3MM in investor cash contributions.
Key Financial Metrics
Investment and Returns
The Trappey Riverfront District project requires a total funding of $151,300 million, with $36.4 million in equity contributions, supported by strategic use of construction debt and historic tax credits. This transformative development is designed to deliver significant returns while benefiting from public and private synergies.
StabILIZED YEAR 1 SNAPSHOT
33.5%
(Excluding reversion sale)
Year 10 Cash-on-Cash Return
Strong NOI Growth:Increasing operating income from $7.6 million to $12.2 million over 10 years. High Terminal Value:A reversion sale of $182 million, based on NOI and market cap rates. Reasonable Assumptions:The projected revenue growth and reversion value align with market conditions and investor expectations for a project of this scale.
2,900,000 x100 ≈ 8% 36,400,000
(CAP) = ______NOI_____ x 100 = $268,576 x100 Cash invested $1,000,000
IRR Internal Rate of Return
(Assuming proportional growth in FCF)
Year 5 Cash-on-Cash Return
12,200,000 x100 ≈ 33.5% 36,400,000
5,500,000 x100 ≈ 15.1% 36,400,000
16%.
8%
By Year 10, FCF is approximately $12.2 million:
Assuming annualized growth of FCF leads to approximately $5.5 million by Year 5:
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Stabilized Year 1 Cash-on-Cash Return
15.1%
Summary of Cash-on-Cash Returns: Year 1:~8.0% Year 5:~15.1% Year 10:~33.5% (without reversion) Year 10 (with reversion):Exceeds 100% due to substantial terminal value. This reflects a strong upward trajectory for cash returns, aligning with the project’s 16% IRR and ensuring attractive returns for investors. Let me know if you need further breakdowns!
RETURN on investment
NOI: $7.6 million Appreciation: $151,3 M × 2.5% = $3.8 million Depreciation: $3.088 million Principal Reduction: $2.5 million Cash Flow Contribution (before depreciation): NOI + Appreciation + Principal Reduction: 7.6M+ 3.86M+ 2.5M= 13.96M 7.6M + 3.86M + 2.5M =13.96M Cash Flow ROI (on equity): ROI = 13.96M (Cash Flow) / 36.4M (Equity)≈ 38.3%
Stabilized Year 1 ROI
NOI Growth (Estimated): $9.5 million Property Value Appreciation (2.5% per year, compounding): Value = $151.3 M × (1.025)^5 ≈ $175.0 million Annual appreciation Year 5: $4.4 million Depreciation: $3.088 million/year × 5 = $15.44 million cumulative Principal Reduction (Estimated): $2.5M/year × 5 = $12.5 million cumulative Cash Flow Contribution: 9.5M+4.4M+2.5M=16.4M9.5M+4.4M+2.5M =16.4M ROI (on equity):ROI=16.4M (Cash Flow)/36.4M≈ 45.1%
= 38.3%
Phase I Assumptions: Initial Total Investment: $151.3 million (including $99.8M construction debt and $36.4M equity). Depreciable Building Value: Assume 80% of the total property value is allocated to buildings = $123.52 million. Annual depreciation = $123.52M / 40 years =$3.088 million/year. Appreciation: 2.5% annual appreciation of the total property value. Principal Reduction: Estimated at approximately$2.5 million per year based on amortizing debt.
To calculate the Return on Investment (ROI) for Year 1, Year 5, and Year 10, factoring in 2.5% annual property appreciation, straight-line building depreciation (40 years), and principal reduction, we combine the following components: Annual Net Operating Income (NOI) Appreciation: Property value increases at 2.5% per year. Depreciation: The building value decreases based on straight-line depreciation. Principal Reduction: Part of the annual debt payment reduces the outstanding loan balance.
= 45.1%
Year 10 ROI
These ROIs reflect strong cash flow growth, property appreciation, and consistent equity gains through principal reduction, aligning with the project's 16% IRR and ensuring significant long-term returns for investors.
return on investment (roi)
NOI Growth: $12.2 million Property Value Appreciation (compounded): Value = $151.3 M × (1.025)^{10} ≈ $196.8 million Annual appreciation Year 10: $4.92 million Depreciation: $3.088 million/year × 10 = $30.88 million cumulative Principal Reduction (Estimated): $2.5M/year × 10 = $25 million cumulative Cash Flow Contribution:12.2M+4.92M+2.5M=19.62M ROI (on equity):ROI=19.62M (Cash Flow)/36.4M≈ 53.9%
Year 5 ROI
= 53.9%
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Marcel Wisznia, an Architect/Developer, has built a legacy of delivering transformative projects through strategic partnerships and innovative solutions. His leadership, honored by the Tony Goldman Award, enabled HUD-guaranteed loans to pair with federal and state incentives, resulting in developments like Union Lofts, The Maritime, and The Saratoga in New Orleans. Committed to design excellence, Wisznia | Architecture+Development brings cross-disciplinary collaboration to every phase of a building’s life cycle, ensuring its award-winning work continues to set new standards.
Founded in 1984 by David Lake and Ted Flato, Lake|Flato Architects has produced acclaimed work rooted in modernism, vernacular solutions, and a deep respect for the Texan landscape. Known for their early adoption of sustainable design, their projects—ranging from small homes to major institutional buildings—reflect simplicity, serenity, and a strong sense of place. Recognized with the AIA Firm Award in 2004, Lake|Flato continues to design notable projects across the country, including Rice University’s Recreational Sports Center and Austin’s new central library.
Founded in 2016 by Stephen Ortego, SO Studio is a Lafayette-based architecture and urban design firm specializing in innovative designs and historic preservation. We create master plans for neighborhoods, design interiors for new and renovated spaces, and develop mixed-use projects that enhance how people live, work, and play.
The Team Behind the Vision
Creation of a District
Collaborating with the world-renowned Lake Flato Architects of Texas, the team has crafted a master plan inspired by successful developments like the Pearl Brewery District in San Antonio, which re-imagined a historic space into a thriving mixed-use community. Additional inspiration was drawn from iconic projects such as Lone Star Brewery(San Antonio),Music Lane(Austin), Broadmoor District (Austin), and District Wharf (Washington, D.C.). By studying dozens of successful global developments, the team has incorporated scalable design features and lifestyle elements that promote community engagement and economic sustainability. With a focus on innovation and inclusion, this collaborative team has designed a project that integrates cultural, recreational, and economic opportunities, ensuring that the Trappey Riverfront District will stand as a landmark development for Lafayette and beyond.
The Trappey Riverfront District is being developed by a powerhouse team of visionary architects and developers: Wiznia ArchitectureandSO/Studio Architecture. Known for creating catalyst developments across the South, their impressive portfolios include transformative projects in Lafayette, New Orleans, Birmingham, Corpus Christi, and Washington, Louisiana.
For decades, Lafayette has dreamed of activating the Vermilion River as a cultural and economic centerpiece. In the 1980s, the Vermilion Queen dinner boat captured our community's imagination, yet we never fully embraced the potential of our riverfront. Now, we have the chance to rediscover the Vermilion River and redefine Lafayette for generations to come. Communities like Greenville, North Carolina and San Antonio’s Pearl District transformed their rivers into thriving hubs of activity, connectivity, and culture. The Trappey Riverfront District gives Lafayette that same opportunity—an opportunity to create a vibrant destination where people can gather, celebrate, and enjoy our rich cultural heritage.
This is more than just a development. It is a vision to activatethree city parks, the Vermilion River, and Vermilionville into an interconnected, inclusive space that will become the heartbeat of Lafayette. Like Moncus Park, this project represents the powerful impact of public-private partnerships—but why stop at just one park? We can do more. We can connect our community, celebrate our culture, and create a legacy that will endure for generations. Lafayette hasn’t seen a project of this magnitude since the construction of the Cajundome. The time is now. This is your opportunity to invest not only in extraordinary financial returns but also in a vision that willtransform Lafayette’s future. Join us in making history.
BE A PART OF CAJUN HISTORY
Warm regards, Jim Keaty
NEXT STEPS
We invite you to review the detailed proforma and site plans to explore the immense potential of the Trappey Riverfront District. Partner with us to transform this vision into reality and redefine Lafayette’s riverfront as a vibrant hub for commerce, culture, and community.
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MASTER PLAN
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