The LSU Board of Supervisors today is set to vote on preliminary approval for the long-awaited redevelopment of a massive downtown building -- the old Charity Hospital.
A search committee formed by the LSU Real Estate and Facilities Foundation chose a developer last fall: 1532 Tulane Partners plans to convert the massive former hospital into residences, offices, and research space.
"It's a mixed use development, and you have to do that when you have such a large amount of building area," said real estate analyst Wade Ragas. Ragas there's a huge need for medical offices, especially in that area that is surrounded by hospitals and medical schools.
"It's in a wonderful location, in terms of its proximity to the CBD," Ragas said. "It would be a great place for medical offices."
It will take years to bring the $245 million plan to fruition for a building that has been empty since it was evacuated in the aftermath of Hurricane Katrina more than 13 years ago.