Cabinet approves College Town land swap

Cabinet approves College Town land swap


"The second phase of College Town is moving forward following the Florida Cabinet's approval of a land swap between Florida State University and the Seminole Boosters today.
The deal gives the Boosters a 1.83-acre gravel lot previously owned by FSU and the state on the northeast corner of South Woodward Avenue and West Madison Street to build 89 apartments and nearly 25,000 square feet of retail, restaurant and office space. The space will be used to link Collier and Gaines streets and provide access to a 600-space parking garage.
FSU will receive 2.57 acres of adjacent land on two parcels: A piece of land at Stadium Drive and Call Street adjacent to the FSU College of Medicine considered a highly strategic corner of campus; and a parcel on Stadium Drive near Lake Bradford Road, which will be used as a training and organizational facility and will be redeveloped for campus expansion.
The land the Boosters received is worth $3.11 million compared to the $3.145 million worth of the land it gave up. The Boosters will forego the $35,000 difference.
FSU President John Thrasher said the swap is "another great opportunity for more jobs and more economic development, and I believe a benefit for our students ultimately."