COMMERCIAL PROPERTIES REPORT
Lofty Idea

Loft Twelve 45 brings loft-style living to Lafayette

Loft Twelve 45 will be Lafayette's first full-scale loft living development, bringing a taste of New York's SoHo to South College Road. Developed by Lafayette native Ruth Ann Menutis and her son Dimitri and marketed by Midge Parker at Coldwell Banker, the $15 million project is being designed by Architect Steve Oubre of Architects Southwest. Loft Twelve 45 will be constructed in three phases, the first of which will offer 24 two- and three-bedroom units. The project has been approved by the city planning department, and financing is being finalized before construction begins this summer. BEO will serve as contractor and Paul Myers as engineer.

The development site is located on 4.5 acres at 1245 South College, from Coulee Mine to Girard Park Drive. Loft amenities will include high ceilings, high speed Internet access, custom elevator cabs, home security systems with fire detection, European kitchen cabinets and spa-like bathrooms; an exercise studio, spa, hot tub and sun deck, golf putting green, outdoor fireplace and grill and walking path will be located on site.

Oubre says this is a special project for Lafayette because of the dynamic of the spaces being designed. "His vision was something that was very modern but still classical", he says about Dimitri. "That's a very interesting approach to a design." Oubre is modeling the development after his work in other new urbanist sites, like River Ranch and Old Towne at Millcreek. "The idea was to develop a small hamlet of lofts that could provide a village concept," he says. Commercial development on the bottom floor of the building could include a coffee shop and library, ideas that are still on the drawing board.

Loft Twelve 45 units range from $145,000 for a one-bedroom, available in phases two and three, to $350,000 for a three-bedroom penthouse. All together, the phases will include a total of 80 units. Living spaces range from 800-2,100 square feet. "The spaces at Loft Twelve 45 evoke the culture and energy of a great loft," the Web site states. "Each loft features large open spaces, high ceilings, large floor to ceiling windows, incredible design, a few spiritual elements, and modern electronics."
Dramatic interior lighting, bamboo floors, walk-in closets and granite countertops are added touches. Oubre describes the look of the lofts as "tight-skinned," with little ornamentation and industrial-type materials, like steel and glass. The exterior of the development will blend with the existing neighborhood, he says, and contain materials like stucco, brick and wood.

The developers plan on attracting empty nesters and young professionals to the lofts, in addition to commercial businesses. Parker with Coldwell Banker says nine units have already been presold and that buyers are excited at the concept of loft living in Lafayette.
"We've gotten a really nice professional clientele," says Dimitri. (Kitchens with a View, currently located on South College, is designing the European cabinetry in the loft units and will be the first tenant to locate in the commercial space.) Dimitri Menutis' background is in real estate, and the 33-year-old developer completed his first course at the age of 14. He works for his family airport retail business in New Orleans and has also developed and renovated many commercial and residential historic buildings in the French Quarter, along with his mother.

After completing Loft Twelve 45, Menutis plans to co-develop 65 acres near the Mall of Acadiana into a residential community named Tuscany.

LOFTY IDEALS A new South College Road development will offer modern urban loft spaces. Courtesy of DesignVision Design by Architects Southwest/Illustration

A young New Orleans developer has teamed up with local architect Steve Oubre to bring a $15 million “true New York style SoHo loft living” project to Lafayette. The first phase of Loft Twelve 45 gets under way on South College Road in about six months, says Dimitri Menutis, and will offer 24 two and three-bedroom units. “It’s a very new product for Lafayette,” notes the 33-year-old developer.

Units in Loft Twelve 45, located on a 4.5-acre tract from Coulee Mine to Girard Park Drive, range from $145,000 for a one bedroom (coming in Phase 2 and 3construction) to $350,000 for a three-bedroom penthouse. Spaces climb from 800 to 2,100 square feet. Tenants also receive a complimentary amenity package that includes a workout room, tanning and spa facilities, a putting green, and outdoor grilling area.

Menutis hopes the complex will attract “empty nesters and young professionals wanting a wide open floor plan with modern flair.” Elevator service is offered to each loft — all single level spaces with large floor-to-ceiling windows, walk-in closets and state-of-the-art electronics. The fourth floor of Phase 1 offers granite appointed penthouse units with 14-foot ceilings in the living area and hard wood floors throughout.

The bottom floor of the development will offer commercial lease space; Sharon Brothers already is planning to relocate her year-old South College Road Kitchens with a View, what she refers to as “a unique cabinetry boutique,” to Loft Twelve 45 when the first phase is completed in the spring of 2006. Her live-work space is now on the property slated for development, as are two other homes. All three will be leveled.

Menutis has worked for his family’s airport retail business, opening more than 90 concession outlets in airports across America, and has developed and renovated historic buildings in New Orleans’ French Quarter.

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