*CVC rental (own property) $200K a year
*Champions Club (events, concerts, etc)
*College Town Phase 1, 2, 3
FSU Boosters are working HARD to diversity and find new sources of revenue.
http://www.urbantallahassee.com/index.php/projects1/item/896-1119-west-gaines-street
Location: 1119 West Gaines Street, Tallahassee, FL
Status: PROPOSED
Owner: Seminole Boosters, Inc.
Design: Genesis Group | m+a architects
Contractor: North American Properties
Website: ONLINE
ETA: TBD
Value of Improvements: TBD
Description: The proposed project is located on 1.46 acres at 1119 West Gaines Street. The project is the construction of a seven-story parking garage and a 115-unit (388-bedroom) student housing development. The properties are zoned UV (University Urban Village) and are located within the MMTD (Multi-Modal Transportation District), Downtown Overlay.
https://retail.naproperties.com/florida/tallahassee/stadium-centre
I really really hope this doesn't look exactly like NAP's 3 other projects on Gaines. I'm not sure who the architect was on those projects.
ReplyDeleteIf I had to guess, boosters is probably going to do this as the sole owner. They started college town with partners to reduce financial risk coming out of the recession. But since then the neighborhood is booming, economy is recovering (and is more stable in a government + university town like Tallahassee anyways), and boosters are looking into buying out their college town partners.