WEST LAFAYETTE, Ind. – Construction will begin this month on a new apartment complex on the west side of the Purdue campus.
The announcement came Tuesday from developer Balfour Beatty regarding what will be the first facility in a $1 billion development district.
The 387,000-square-foot complex will be comprised of three four-story buildings and will be located in the Discovery Park District. It will be called “Aspire at Discovery Park.”
The development will include two-bedroom and four-bedroom apartments and rental pricing of the apartments will be within the range of similar rentals in the area.
Balfour Beatty has also plans on reserving 18,000 square feet for community and retail space within the facilities.
“The Balfour Beatty team is excited to be the first major construction in the transformation of the west side of the Purdue University campus,” said Bob Shepko, president of Balfour Beatty Campus Solutions. “Aspire at Discovery Park will be situated in an ideal location for residents to take advantage of all that this new development will offer.”
Discovery Park is planned to be a 450-acre district and is being developed in partnership between Purdue Research Foundation and Browning Investments. The development will take place over 15 to 20 years and will feature 7 million square feet of interior building space including a hotel with conference center, restaurants, retail, office and business spaces, parks, research facilities, and industrial space.
“It is certainly a milestone to break ground on the first of many developments in the Discovery Park District,” said Jeff Kanable, director of the Discovery Park District (formerly called Purdue Innovation District). “In just a few years this area will feature modern living, learning, shopping and dining for Purdue students and the surrounding community.”
Discovery Park District also supports the $120 million State Street Redevelopment Project jointly developed by the City of West Lafayette and Purdue University.
“All the developments in and around Purdue University and West Lafayette are carefully planned to support and complement each other and advance Tippecanoe County as a destination to live in and visit,” said John Dennis, mayor of West Lafayette. “Another major advantage is that the Discovery Park District also will allow us to recapture taxes paid to the state through Indiana’s TIF funds to support continued development and prosperity for our city.”
The apartment complex is slated for completion by fall of 2019.