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Board approves 50-year ground lease for multifamily housing at LSU Alexandria to expand student beds
Summary
The Board of Regents approved a long-term ground lease enabling a developer to build and operate approximately 176 two‑bedroom multifamily units on 11.5 acres of LSU Alexandria campus land to increase on- and near-campus housing.
The Board of Regents approved a long-term ground-lease arrangement to permit construction and operation of multifamily housing on LSU Alexandria (LSUA) campus land intended to increase available student housing.
Project overview Board staff said the project will use roughly 11.5 acres on the northwest corner of LSUA’s campus (the site of a nine-hole golf course) and provide about 176 two-bedroom units. The institution plans to prioritize students for occupancy while also permitting faculty, staff and community members to live in the complex. The developer identified in the application is Duran Construction; the proposed lease term is an initial 50 years with an option to renew for 49 additional years.
Waiver request and campus safety Because the developer will maintain the facility over the lease term, LSUA and Regents staff requested a waiver of the typical maintenance-reserve fund requirement that is standard for third-party student-housing projects. The lease requires the developer to substantially renovate or refresh the property in the 40th year, and LSU Alexandria Police Department will patrol the site. Regents staff recommended approval after confirming an RFQ-based selection process for the developer.
Campus rationale and reaction LSUA officials said rapid enrollment growth has created a substantial housing wait list (100–150 students) and that the golf course is underused and subsidized by the institution. Chancellor [name provided in transcript as "doctor"; transcript: "I actually was going to ask Chancellor to to come up..."] told Regents the housing will help retain students and spur nearby economic development. "We're the fastest growing 4‑year university in Louisiana," the chancellor said; she added that gating, safety checks and priorities for students are part of the plan.
Board action Regent Aubrey moved and Regent Finley seconded approval; the motion passed on a voice vote. Regents asked staff to confirm security and lease protections to address potential risks including foreclosure or change of ownership; LSU representatives described standard lease safeguards and experience renegotiating long-term third-party projects when needed.
Ending Regents approved the lease so LSUA can move forward with developer agreements and construction planning. The lease includes long-term obligations for the developer and a required refresh at year 40; Regents waived the maintenance-reserve requirement because the developer will carry facility maintenance during the lease term.
