Formerly the site of Elmer's Auction House, this commercial structure was redeveloped in 2003 by Matt Sutter. Matt requested and received a rezoning of the property to NBU (Neighborhood Business Urban) designation. The NBU zoning change allowed him to create two apartments on the upper floor and use the lower floor for a commercial venture.

   On Mar 25, 2004, Redevelopment Commission members approved a grant from the city's Small Business Improvement Fund program. Two grants will go toward the same project, as Sutter Realty got $13,703.25 for facade work at 423 N. Third St. Matt Sutter wants to prepare the building as an office for Bison Financial. Funded through money raised in the city's tax increment finance district, the Small Business Improvement Fund, offers grants to eligible small businesses looking to expand or open their doors for the first time. Lafayette Urban Enterprise Association administers the program for Lafayette's Community and Redevelopment department.