Student Union Construction.

[HelmutVII]

Time schedules and other information are in this link

http://louisiana.edu/news-events/new...jects-approved

[NewsCopy]

Link to photos of the last beam going up.

Advertiser
_ photos _

[Ragin' Realtor]

I think the Lourdes property is a must buy for the University. The opportunity to purchase that amount of raw land that close to the current main campus, will likely never come available again. Add to that the fact that the Saint Landry portion could become a corridor connecting the main campus to the property already owned by the University around Blackham coliseum, and its a no brainer.

I hope the University is currently being pro-active locking down the purchase of this property, as once the old hospital buildings come down I believe the demand for that raw land will be high. The last thing the University needs is to get in a bidding war with some developer with deep pockets.

The current asking price on the 25 acre site is about $36 million; the money UL got for the horse farm is only gonna cover a downpayment. Regardless now is the time to strike as once it becomes raw land, it could be subdivided and sold off in parcels.

[HelmutVII]

I hope the University is currently being pro-active locking down the purchase of this property, as once the old hospital buildings come down I believe the demand for that raw land will be high. The last thing the University needs is to get in a bidding war with some developer with deep pockets.

This is exactly what Lourdes wants. They are not crazy. The only reason they are demolishing the hospital is to open up the tract of land to people that don't want an ancient hospital building (loaded with asbestos) on it.

If somebody made an offer on a piece of property at $3.00 a square foot would the owner accept another offer at $2.00 a square foot?

[LaCajunsFan]

OMG, Helmut. Didn't realize how much of a FB person I had become: I kept looking for the "like" button on your last post, lol.

[CajunRebel]

Am I the only one who thinks the $36 million asking price is about $30 million too high?

[Boomer]

I thought that I had posted this --well I did somewhere ----that the Diocese of lafayette owns the property and they have a long term lease with the hospital and they are right to demand their due rent--but there has to be a way to get around this and have UL get the property!!!

[Turbine]

Am I the only one who thinks the $36 million asking price is about $30 million too high?

They are not asking what they think it is worth, they are asking what they think they can get.

I bet they would have traded straight up for the Horse Farm.

Like me, they probably would have valued the HF at $40 mil.

[HelmutVII]

I have check the assessors records and I estimate the total acreage owned or controlled by "Lourdes" is about 18.11 acres. This includes the property that the old hospital is on and the large vacant areas heading to St. Julien. The 18.11 acres includes the satellite parking garage on St. Patrick Street. Lourdes DOES NOT OWN any property fronting St. Mary Street. Once the hospital is demolished the only thing standing (to my understanding) on the Lourdes property will be the two parking towers.

18.11 acres is 788,871 square feet. Placing a square foot value on the raw land is not what I do so I don't know. Maybe a real estate pro on this board can take a guess. I would GUESS that the value of the two parking towers would be between 3.5 to 4.0 million. 788,871 square feet at $x.xx per square foot plus 3.5 or 4.0 million would be the value of the property. The only question would be what is the property "worth" to a potential buyer and if the owner is willing to sell at that price.

I don't have the time right now but I will draw up a map and post it later.

[CajunRebel]

I have check the assessors records and I estimate the total acreage owned or controlled by "Lourdes" is about 18.11 acres. This includes the property that the old hospital is on and the large vacant areas heading to St. Julien. The 18.11 acres includes the satellite parking garage on St. Patrick Street. Lourdes DOES NOT OWN any property fronting St. Mary Street. Once the hospital is demolished the only thing standing (to my understanding) on the Lourdes property will be the two parking towers.

18.11 acres is 788,871 square feet. Placing a square foot value on the raw land is not what I do so I don't know. Maybe a real estate pro on this board can take a guess. I would GUESS that the value of the two parking towers would be between 3.5 to 4.0 million. 788,871 square feet at $x.xx per square foot plus 3.5 or 4.0 million would be the value of the property. The only question would be what is the property "worth" to a potential buyer and if the owner is willing to sell at that price.

I don't have the time right now but I will draw up a map and post it later.

Awesome! Thanks for the info.

[MelRock]

I do not know the exact locations of the property boundaries, but I thought I would help with an aerial view of the area.

[HelmutVII]

MelRock you are pretty close however the tracts are all convoluted and not as straight forward. It is a result of them buying tracts of land over time. It will take me some time to get a map together that I can post. I hope to get it done by tonight.

I made a mistake on the location of the satellite parking garage. It is located on St. Louis Street not St. Patrick like I said before. It is on a 1.0 Acre tract of land across St. Landry adjacent to the branch of the Coulee Mine. It is just off of the photo above to the north near the bend on the Coulee Mine.