LSU Property Foundation Selects Two Developer Finalists for Nicholson Gateway

12/02/2015
BATON ROUGE – The LSU Property Foundation has selected two leading master developer firms as finalists for a public-private partnership to design, build, finance, operate and maintain new student residence halls and other amenities on a 28-acre site of the Nicholson Drive Corridor, between West Chimes Street and Skip Bertman Drive. American Campus Communities and RISE Real Estate have been invited to enter into parallel, in-depth negotiations for the project, with a developer to be selected in spring 2016.

Rob Stuart, chair of the Nicholson Gateway Development Project Committee, said, “American Campus Communities and RISE Real Estate are recognized leaders in this industry. We appreciate the opportunity to work more closely with these firms and will ultimately choose the best partner to bring this exciting project to fruition for the benefit of the LSU community.”

The LSU Property Foundation will contract with the chosen developer, and the developer will then contract directly with its project team members. The developers have initially proposed the following firms as teammates; the final composition of each team might change, solely as determined by each individual developer.

American Campus Communities proposes a project team including Baton Rouge-based Coleman Partners Architects, Lincoln Builders, Saurage Rotenberg Commercial Real Estate and Provident Resources; Shreveport-based Shreve Land Constructors; Hanbury Evans Wright Vlattas & Company; and RBC Capital Markets. RISE Real Estate proposes a project team including Baton Rouge-based Remson Haley Herpin and Provident Resources Group; The Lemoine Company and Stirling Properties, both with Baton Rouge offices; Niles Bolton Associates; Stantac; and RBC Capital Markets. 

A request for qualifications, or RFQ, was publicly issued by the LSU Property Foundation on July 24, 2015, with a submission deadline of Aug. 21. The evaluation of the proposals aimed to identify private master developers with the best qualifications, experience, financial capacity and proven track records of executing similar projects. The 10 submissions received, representing nationally recognized firms with experience developing similar projects, were evaluated by the LSU Property Foundation with its development advisor, Brailsford & Dunlavey/CSRS, and narrowed to five developers to be invited to participate in the request for proposals, or RFP, process. The RFP was issued on Sept. 25, with a submission deadline of Nov. 6. The shortlisted developers were each invited to visit campus on Oct. 13 and Nov. 11 to discuss the project.

The Nicholson Gateway Development Project is envisioned to include approximately 1,260 apartment-style beds and 410 suite-style beds with associated residential support spaces, such as lounge spaces, study areas, community gathering places and retail food service. The project also is expected to include 30,000 to 50,000 square feet of new retail space to primarily serve residents of the project, the LSU community and visitors. The LSU Property Foundation, an affiliate of the LSU Foundation, is facilitating the project for the benefit of the LSU community.

The Nicholson Gateway project, focused on the largest underdeveloped tract of university-owned property that is adjacent to the campus core, will turn what has traditionally been the back of the campus into an exciting new gateway district. For more information, visit www.nicholsongateway.com.  

  

 

Contact Sara Crow
LSU Foundation
225-578-8164
scrow@lsufoundation.org

or

Ernie Ballard
LSU Media Relations
225-578-5685
eballa1@lsu.edu