'Real Estate Weekly': Ground lease for new LSU Foundation headquarters OK'd
The LSU Board of Supervisors on Monday approved a ground lease for a site at Nicholson and Skip Bertman drives where the LSU Foundation intends to build a new, $20 million headquarters. Daily Report has more on the project here. Also on Monday, the LSU board approved a master plan for Nicholson Gateway, a mixed-use development adjacent to the area where the LSU Foundation plans to build its new headquarters. Steve Waller, director of LSU's Department of Residential Life, says a steering committee is considering four options for how to proceed on Nicholson Gateway: LSU develops the project itself; LSU partners with a private venture; the LSU Foundation or a nonprofit created for the purpose partners with a private developer; or LSU hires an outside entity to develop the project. "I think we're in the middle, with a partnership," Waller says, adding that the committee plans to make a recommendation within a month or so. While the basic "blueprint" for the project has been approved, he says, it is subject to change with the board's approval. Nicholson Gateway will be built on Nicholson Drive, between West Chimes Street and Skip Bertman Drive, and is to include a retail/housing center and a student residential district. You can read more about it here. —David Jacobs Read the rest of the new Real Estate Weekly e-newsletter here.
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