LAFAYETTE Lafayette city leaders and the Lafayette Chamber of Commerce struck a deal this week that allows the city to buy the chamber-owned Starkey Building at 309 S. Public Road for $400,000.
“It’s acquisition is strategic in nature” given the building’s prime location next to Festival Plaza downtown, Lafayette city manager Fritz Spraguesaid during Tuesday’s City Council meeting during which the sale was approved.
Owning the structure will provide additional opportunities to host public events at Festival Plaza and gives the city more space to house municipal employees, he said.
“Holding this asset has value in and of itself” due to the likelihood of appreciation, Sprague said.