Curtis Doucette
CEO
Iris Development
Iris Development is active in new construction and substantial rehabilitation of mixed-income rental communities and affordable home ownership. Though delayed a few months by Hurricane Ida, the company is nearly finished with its Bywater development, which includes the construction of 70 apartments, 10 of which are permanently affordable, and 2,500 square feet of commercial space. Doucette touches every aspect of a project from deal sourcing to operations. He brings particular expertise to complex finance layering strategies, government relations, construction management and operational oversight.
What are you most excited about for the coming year? I’m super excited about the opportunity to restore the historic Dew Drop Inn in Central City back to its former uses as a music venue, hotel and bar. This former Green Book site that featured performances by the likes of Ray Charles, Little Richard and Etta James, as well as local greats like Irma Thomas, Allen Toussaint and Deacon John, means a lot to the music community, the city, and even our region. People have longed for its reopening for many years. I believe that its revival will bring great joy and a sense of triumph that is much needed in these difficult times.
What is the biggest challenge facing your industry today? The biggest challenge right now is a confluence of problems brought on by the pandemic and now Hurricane Ida. Construction pricing and resources were already strained. That problem is exacerbated with the mass destruction from Ida in our region and as far away as New York that will leave us all competing for the same resources, which will increase prices and extend the time for recovering damaged properties. Less obviously, companies like ours will suffer the opportunity cost of rebuilding versus taking on new growth opportunities.