The transfer of property from the LSU Property Foundation to the flagship university for the expansion of the South Campus has been completed. According to records filed with the East Baton Rouge Clerk of Court on Tuesday, the LSU Board of Supervisors bought the remaining 20 acres fronting Nicholson Drive for slightly more than $2 million from the foundation.
The foundation handles all of the university’s property transactions, LSU Media Relations Director Ernie Ballard says. It buys property first, then is reimbursed by the LSU board later.
LSU does not initially buy property outright because it needs approval from the state Legislature, Ballard says, and that process is handicapped when lawmakers are not in session. As an entity that’s completely separate from LSU, the foundation can buy property and recoup costs afterward.
“The foundation can buy the property and serve as the bank for us,” Ballard says.
The university is using $2 million from the state and $25,084 in private funds from the LSU Foundation to pay for the new tract. The new acreage is in addition to a bit less than 79 acres LSU has purchased from the foundation since 2011, completing a roughly 99-acre expansion that has been in the works since 2005.
Ballard says the 20.05-acre tract is currently undeveloped. According to the South Campus Master Plan, the new land will be used for classroom, lab and research buildings, as well as a Traditional Neighborhood District. Building design will mimic the architecture at the main campus. Part of the South Campus’ mission is to expand the university’s research capabilities.
