WEST LAFAYETTE, Ind. (WLFI) - The 2021 Student Rental Report is out and the Tippecanoe County Area Plan Commission is recommending to lift the moratorium on high rises in West Lafayette.
As we previously reported back in 2019 APC had recommended the moratorium because they were concerned the rental market may get to saturated and vacancy rates would become higher then normal. But with Purdue University's student population continuing to grow those large high rise apartments have maintained a healthy vacancy rate, so now APC said the city is ready for some new developments.
"Their vacancy levels are still very healthy as of Fall 2021 so clearly the market has kind of absorbed those units as the vacancy rates remain low so I think we can kind of move on now," said Ryan O'Gara, the Assistant Director of APC.
O'Gara said they have already started accepting new project proposals.
However, the project must meet the requirements of the West Lafayette Downtown Plan and the New Chauncey Neighborhood Plan as well.
To read the entire 2021 Tippecanoe County Student Rental report click HERE.