Wang Hall construction may begin in one month

WEST LAFAYETTE, Ind. (WLFI) - It's been a long time coming, but in as soon as a month, construction of Wang Hall is expected to begin.

A stop sign on a one-block stretch of Garfield Street hasn't been needed for quite some time. Construction has not begun on a four-story project that in late 2011 was expected to be complete this spring, across Northwestern Avenue from Purdue University in West Lafayette.

Purdue Research Foundation Senior Vice President Joe Hornett says he can't wait for construction to get started.

"Absolutely, this is has been a very long gestation period," he said.

Hornett said delays can be blamed on two things, initially the zoning process, then the finances. He said it took longer than anticipated to get the lease for Purdue's School of Electrical and Computer Engineering to be approved by various state agencies.

"It's a lease that the state had never seen before because this is a forward funded lease," Hornett said.

The forward funded lease means the state paid $18 million for 30 years of use. Hornett said all construction had to wait for that approval which came from the state budget committee in September.

"The banks, especially with the economic environment that we're in, even with Purdue with its great credit rating, basically had to have the ink dry and know that there was a lease in place, that it was going to take place," Hornett said.

Hornett added plans and design have not changed for the 145,000 square foot building, and fortunately, neither has the price tag.
    
He said the ongoing recovery has kept the estimated cost at close to $39 million.

"The delay has not cost us anything except time," Hornett said.

Hornett believes nearby construction at 720 Northwestern will not affect his project.
    
He hopes primary tenant Purdue Federal Credit Union can move to Wang Hall in May 2014 and the school later in July. He's still looking to fill some retail and commercial space inside.

Hornett said construction on Wang Hall is expected to begin at the end of February or the first week of March at the very latest.