Carter Lands Second Project at University of Louisiana at Lafayette
- Nov 12, 2012
The investment, development and advisory firm Carter announced it has been selected for a second project at the University of Louisiana at Lafayette (UL Lafayette). The company will be responsible for managing the development of the university’s new 170,000-square-foot student union.
“We are thrilled to be a part of two side-by-side projects that are transforming the University of Louisiana at Lafayette campus in such a positive way. We are pleased to continue our relationship with both the University of Louisiana and The Foundation,” stated John Jokerst, senior vice president of Carter. John Joekrst will be leading the second UL Lafayette project.
The announcement comes after Carter’s September announcement of closings on development deals worth $100 million, as well as plans to start construction on projects worth around $200 million by early 2013.
Carter had announced in 2011 that it will be focusing on equity development in student housing, multifamily and mixed-use projects in core areas, as well as value-add office investment opportunities, and education-oriented project management. It had also announced it would expand its strategic consulting/advisory services practices.
Work is already in progress for the student union, and is expected to complete by fall of 2014.
Carter was previously involved in developing UL Lafayette’s new 1,934-bed student housing, which celebrated its official inauguration earlier in October, as reported on this page. The $98 million project razed five existing buildings and replaced them with four new structures totaling 470,000 square feet, while also renovating three other structures totaling 57,000 square feet. The project, which also included a 850-car parking deck and 8,000 square feet of retail, was delivered within a 30-month timeline. Carter handled evaluation and selection of proposals and development teams, and it stayed throughout the process as owner’s representative.
Carter’s higher education group has managed $2.5 billion in new projects and capital improvements, completing more than 70 projects on 30 separate campuses.
Rendering courtesy of Carter