The former Don’s Seafood restaurant in downtown Lafayette has been bought by a group of investors with plans to convert it to a mixed use space.

Hub City Holdings bought the 12,000-square-foot building and adjoining land and will convert it to a space that will accommodate retail, food and beverage, residential and shared space, Downtown Development Authority officials announced Friday morning.

Purchase price was just over $1.5 million, land records show. 

The group consists of business owners Ryan Pecot, Gus Rezende, BJ Crist and John Peterson. The space, which dates back to the 1930s, will be redeveloped to be “a vibrant touchstone in the heart of the downtown district,” officials said.

The property, which is 50,000 total square feet and includes the parking lot across the street, will be redeveloped in phases, starting with the existing building and the adjacent parking lot.

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“We are beyond elated to announce Hub City Holdings’ acquisition of the former Don’s Seafood property,” DDA CEO Anita Begnaud said. “This is a wonderful opportunity to breathe new life into a piece of downtown Lafayette history. We look forward to continuing the momentum of activating more areas off of Jefferson Street, and we’re confident this redevelopment will drive even more people to this corner of downtown.”

Said Rezende: “Our top priority is to create something vibrant that fits into the context of our urban environment and is both a huge success for our investors and for downtown Lafayette.”

The restaurants closed at the start of the coronavirus pandemic, but the owners did not release a statement when it did. An employee's social media post in mid-May indicated that staff received their final paychecks and would not return to work.

Other Don's Seafood locations, including the Johnston Street location, are under different management.

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Email Adam Daigle at adaigle@theadvocate.com.