LSUA On-Campus Living: Today, the TT reported that LSUA is consulting with five developers, only one of whom is from Louisiana, in order to plan the construction of a garden-style on-campus apartment complex. FINALLY! It's obvious there is a demand. But why, you may ask, aren't any local developers involved in this project? Well... please correct me if I am wrong, but it is my understanding that LSUA is attempting to get a developer to LEASE the land for a very limited period of time. They're looking for a partner, plain and simple. The problem is: The locals know that there is plenty of land for sale DIRECTLY across the street from LSUA, and why would anyone in their right mind want to incur most of the costs and the risks without the security of ownership? But still, it makes sense on LSUA's part, and I really, really hope this deal works. "One proposal suggested rent at $375 per bed, per month for a two-bedroom, one-bathroom apartment, and $400 per month, per bed for a four-bedroom, two-bathroom apartment." Incredibly expensive rates: $750 for a 2/1 and $800 for a 2/2! This would make it the most expensive complex in town (until the new one out at the Lakes opens). They'll probably be able to demand these rates due to the lack of housing out there.

This entry was posted by Blogger, on Tuesday, March 21, 2006.