MANDEVILLE, La. (WGNO) — According to the LSU Health Foundation, more than 10,000 people are retiring daily, and in the Northshore community there is a growing need for healthcare.
The LSU Health Foundation, New Orleans announced one of the largest economic development projects to happen on the Northshore on Thursday.
An estimated $150 million dollar private partner investment will bring a ‘state of the art’ housing project to the Northshore of Lake Pontchartrain.
Along with a new facility, training opportunities, jobs, and other public and commercial amenities are to be developed.
The project is being built on 29 acres of land donated to LSU Health Foundation from the Al Copeland
President and CEO of LSU Health Foundation envisions the development to be adjacent to Mariners Village and include restaurants, a marina, a hotel, apartments for active adults, and healthcare services provided by LSU Health Sciences Center and its students.
LSU, Mandeville, and St.Tammany Parish residents will benefit from the new development that will produce revenue and be invested directly into cancer research.
The deal is set to dedicate and restrict more than $20 million in cancer research funding over the next 40 years as part of the partnership from the land lease revenue.
“This partnership with LSU Health Foundation is a long-standing one, and it is my honor to donate this
land in our father’s name” said Al Copeland, Jr.
The development will be the first university-affiliated retirement community in the state of Louisiana, which will allow the university to grow and the Foundation to engage in the type of projects that provide value to the community but also expand LSU Health‘s mission.
“The partnership, growth, and symmetry between the LSU Health Sciences Center and the LSU Health
Foundation absolutely shines through this project,” says LSU Health Sciences Center Chancellor Larry
Hollier, MD. “I am so very proud that the LSU HSC will play such a significant role in the development
and future operation of this exciting new community on the Northshore. Having the ability to help train
students in geriatric health care while providing new funding for faculty research in fighting cancer, not
to mention building a beautiful place for LSU alum (and the public) to retire and enjoy life in a wonderful
community is the best of every world.”