Purdue University will lease apartments in a massive new development on Indiana Avenue to house 427 students from its new Indianapolis campus.
The university’s board of trustees approved the $28-million, five-year lease at a meeting Aug. 2. Purdue will lease 159 apartments starting in 2026, nearly two-thirds of the space in the planned building.Â
The 12-story building at 501 Indiana Avenue will include 263 apartments, along with office and retail space. The plans also include a parking garage with more than 300 spaces and public stairs to lead people from street level down to the canal.
The project was approved by the Metropolitan Development Commission in July.
[Not everyone is happy with Indiana Avenue project on the canal]
Purdue is building a campus after IUPUI split into IU Indianapolis and Purdue in Indianapolis in July.
Earlier this summer, the board approved plans for the first new building on the Indianapolis campus, a $187-million project that will include dorms, a dining area and classroom space.
Purdue also leased two-thirds of IU-owned North Hall and has the option to purchase the dorm eventually. The university is also leasing 400 beds at Lux on Capitol, an apartment complex just off campus at Michigan Street and Capitol Avenue.Â
Mirror Indy reporter Tyler Fenwick contributed reporting.
Claire Rafford covers higher education for Mirror Indy in partnership with Open Campus. Contact Claire at claire.rafford@mirrorindy.org or on social media @clairerafford.
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