Overview
- Tulane signed a purchase-and-sale agreement with 1532 Tulane Holdco on Tuesday that formally shifts the university from tenant to prospective owner and lead developer of the roughly one-million-square-foot Charity Hospital building.
- The university plans to occupy more than 650,000 square feet for the Celia Scott Weatherhead School of Public Health and Tropical Medicine, the Tulane University Innovation Institute, and parts of the School of Medicine with labs for about 700 researchers.
- Project funding is structured around roughly $500 million in public and private support, including a lead gift from the Goldring Family Foundation and backing from the state and City of New Orleans, with a financial closing targeted by fall and a planned 2029 construction completion.
- A private developer will convert the portion of the building not used by Tulane into market-rate apartments, and the overall project is expected to create about 2,500 permanent jobs and thousands of construction jobs during build-out.
- Key steps remain before major construction can begin, including finalizing a development agreement and resolving outstanding issues between Tulane and 1532 Tulane Holdco, with a groundbreaking planned after financial close.