NEW ORLEANS – The LSU Health Foundation has announced plans to build a $150 million multi-use living and retirement community on 29 acres of land in Mandeville. The property, valued at $7 million, was donated by the family of late restaurateur Al Copeland.
The partnership, which includes Woodward Interests, said the development adjacent to Mariners Village will include restaurants, a marina, a hotel, apartments for active adults and healthcare services provided by LSU Health Sciences Center.
In addition, the partnership dictates that $20 million in land lease revenue will be dedicated to cancer research funding over the next 40 years.
“This partnership with LSU Health Foundation is a longstanding one, and it is my honor to donate this land in our father’s name,” said Al Copeland Jr. in a press release. “We are proud that the Al Copeland Foundation chose to partner with LSUHSC which was ultimately responsible for finding the cure to the cancer that took his life, and they continue their groundbreaking clinical trials that will change the face of cancer care for generations to come. This development is just the next step in our mission to save lives and end cancer.”
“We are bringing a newly developed community based on and incorporating the beauty of the location, providing a true icon for Mandeville and the Northshore that everyone can be proud of,” said Matt Altier, president and CEO of LSU Health Foundation. “We’ll be supporting our mission of training the next generation of medical professionals and reconnecting with our 240,000 alums, while also addressing our nation’s aging population, and most importantly, providing a 100-year steady stream of revenue dedicated to the research and the elimination of cancer.”
The developers said this is the first university-affiliated retirement community in the state of Louisiana.
