A new developer was signed on to the Teche Ridge project this week, a move that those close with the project say will bring a $150 million economic impact to Iberia Parish. 

Southern Mutual Help Association announced that Guidry Land Development will be serving as the developer of the Teche Ridge project, a choice that leaders of the SMHA and Teche Ridge LLC. are excited about. 

Teche Ridge, a Traditional Neighborhood Development, overcame many barriers over the years that required changing local ordinances that made a TND illegal to build, according to the SMHA. 

Lorna Bourg with the SMHA said that the deal with Guidry Land Development came after about 12 years of the not-for-profit working to clear the barriers of a traditional land development in Iberia Parish, and after many meetings with the heads of the company, Bourg said Guidry understands the vision of the project. The deal was signed this week. 

Although SMHA was crucial to the success of the beginning of the project, the plan was always to move it to a developer who understood the scope of the project and had the resources to invest in Teche Ridge. 

“We corrected local law that prevented developers from entering into pre-sale agreements until a final plat was approved by the Parish,” according to a prepared statement. “We transformed the thinking of the public.”

“Guidry Land Development sees SMHA’s vision and will continue building with commercial and additional residential development in different phases to bring this to fruition,” according to the statement. 

The Teche Ridge Project has been undertaken with the help of local officials and national lenders like the Local Initiatives Support Corporation and NeighborWorks Capital.

Project leaders said the timing of the next phase of the project could not be more perfect due to the growth of Iberia Parish economically and the forecast that more people will be coming to the city thanks to the First Solar facility and other job opportunities in the parish. 

SMHA thanked Cliff Guidry from Guidry Land Development, Former State Sen. Fred Mills, Gail Romero, Theresa LaCour, former Mayor Hilda Curry and the SMHA staff for their hard work and for standing by the Teche Ridge vision. 

Construction work in the development should become visible in the very near future. Landscaping work was already underway this week for Teche Ridge.