Nicholson Gateway Development Summary
The proposed project is a public-private development venture to create the Nicholson Gateway, to revitalize an older section of LSU’s campus, create a significant new gateway onto the campus, and provide both new and renovated on-campus housing to meet the demands of LSU’s students. The project will also have a retail component, focused on meeting the needs of LSU’s residential and commuter students. LSU is working with the LSU Property Foundation (“Foundation”) and RISE: A Real Estate Company to collaboratively design, finance, construct, and operate the new facilities. The development will open in time for the Fall 2018 semester, with RISE guaranteeing on-time delivery. The proposal is based on a competitive selection process resulting in a recommendation and report from the LSU Property Foundation.
Nicholson Gateway at a Glance
All figures are approximate, based on estimates at the time and subject to change. Detailed designs were still being prepared; final costs were based on final designs. A Guaranteed Maximum Price was agreed before the contracts were executed.
- 1,547new on-campus student beds
- 7new residence halls
- 10,000square feet for a satellite University Recreation facility
- 34,000square feet of retail
- 1,464parking spaces (including 800 in a state-funded parking garage)
- $149Mtotal development cost (inclusive of total construction cost)
- $123Mtotal construction cost
- 700construction jobs created
- 125+permanent jobs created, in both public and private sectors
- $100M+construction dollars staying in Louisiana and the region
- $130M+total development dollars staying in Louisiana and the region
