About 10 years after Mike Wampold began acquiring property along Nicholson Drive near downtown, the developer has closed on what he calls the final piece of his grand puzzle—a 30,000-square-foot parcel at 1564 Nicholson that adjoins two of the parcels he previously acquired.
Wampold bought the latest property for $320,000 from Living Word Church, which is moving to North Sherwood Forest Boulevard. Altogether, he now owns four tracts making up nearly seven acres that abut the planned River House multifamily development—formerly the site of the Prince Murat Hotel—and just blocks from the Water Campus research park, which broke ground last month. Wampold also owns a separate block of Nicholson Drive between Oklahoma and Tara streets, which backs up to the Water Campus.
“The area hasn’t completely turned yet, but it is definitely starting to turn and there are a lot of good things happening there,” he says.
Wampold says he doesn’t know yet what he will do with the 7-acre site. However, with plans for more than 2,000 residential units already announced for developments at the Water Campus, River House, River District—a mixed-use project further down Nicholson—and LSU’s South Gates, he suggests the area could use entertainment venues.
Wampold says he isn’t in any hurry to develop the site, adding it could be a few years before his plans take shape.