A developer has been chosen to build a student housing project at Louisiana State University (LSU) through a public-private partnership (PPP), the Nicholson Gateway Development Project.

In December 2015, LSU shortlisted the following firms to carry out the student housing P3 project:

• American Campus Communities
• Capstone Development Partners
• Balfour Beatty Campus Solutions
• Corvias Campus Living
• RISE Real Estate

After that, American Campus Communities and Rise Real Estate were the two options under negotiations with LSU.

Finally, the LSU Property Foundation has chosen Rise Real Estate to design, build, finance, operate and maintain the mixed-use student housing complex. 

The Nicholson Gateway Development Project, which will be entirely privately funded, will be developed on a design, build, finance, operate, and maintain (DBFOM) basis. The project also will transform the largest underdeveloped tract of university-owned property that is adjacent to the campus core.

The new facilities will include, among others, approximately 1,260 apartment-style beds, 410 suite-style beds, study areas, meeting spaces, restaurants and about 40,000 square meters of retail space.

The LSU foundation was impressed with Rise Real Estate and is considering selecting it again to replace the six 1960s residence halls on campus over 15 years or more, reported The Acadiana Advocate.