The LSU System Board of Supervisors recently paid $2.2 million to the LSU Foundation for 22 acres of undeveloped land four miles south of the main campus.
During the next three years, the board will purchase three more pieces of land from the foundation to be constructed with South Campus. The LSU Foundation is a non-profit, privately funded foundation designed to advance and develop the University.
Ernie Ballard, director of public affairs, said the foundation purchased the entire tract of land for the University to buy back.
“The foundation acted as a bank on LSU’s behalf,” Ballard said. “After the fourth installment is purchased, the land will be developed. They are definitely getting a place down there for technology dollars.”
Charles D’Agostino, executive director of the Louisiana Business and Technology Center, said the property will be the University’s Innovation Park — a place developed for economic purposes.
“It’s a concept all over the United States and all over the world where universities want to save campus space for academic purposes,” D’Agostino said. “They take the site off-campus and make that the business-type center to create jobs. Businesses will hopefully employ graduates and help LSU research and