Officials of Browning and J.C. Hart announced today a joint venture to develop about 250 luxury apartments and 15,000 square feet of street-level commercial space in Discovery Park District, a 400-acre $1 billion-plus development that will transform the west side of the Purdue University campus.
The three-acre apartment and commercial development aligns with the long-term plan for Discovery Park District to grow into a thriving, walkable, urban setting where innovators, entrepreneurs, students, researchers and thought leaders can create, congregate, collaborate, and commercialize.
“This new development fits perfectly with the master plan vision to bring mixed-use development and a wider range of housing types to the west edge of campus,” said Adam Chavers, Browning’s chief development officer.
The new development will be located in the district’s core along the south edge of State Street in West Lafayette, Indiana. The ground floor commercial space is size and designed to accommodate a diverse mix of possible uses including restaurants, cafes, convenience retail, soft goods, bookstores, and service retail, among other possibilities.
“The new luxury housing and commercial space joins the three other projects currently under development in Discovery Park District and will contribute to our master plan of providing a strong community for residents, students and visitors to the West Lafayette area,” said Rich Michal, vice president and chief facilities officer for Purdue Research Foundation, partnering on the district master planning and development with Browning.
Other projects already under development in Discovery Park District are:
- Aspire, a three-building, 831-bed apartment community designed for students is slated to open in early August.
- Convergence, a 145,000-square-foot, five-story mixed-use building that will connect Purdue University research, industry and investors and support collaborative research, licensing and startup creation is slated to open in early 2020.
- SEL Purdue, a 100,000-square-foot facility for electric power research that will support up to 300 new high-tech jobs is slated to open in 2020.
“By bringing much-needed 1- and 2-bedroom luxury apartments to Discovery Park District, we see this not just as a great opportunity in a great location, but also as a chance to be part of something truly beneficial to Purdue and the entire Lafayette community,” said Todd May, vice president of development at JC Hart. “This development is setting a high standard for innovation districts, and we’re excited to be a part of it.”
Groundbreaking for the project is expected to take place this year, and it is expected to accept its first residents in 2021. JC Hart will manage the building.
About Discovery Park District
Discovery Park District, it is a 400-acre mixed-use planned development to transform the west side of Purdue University. The project is designed to create a thriving, walkable, urban setting where innovators, entrepreneurs, students, researchers and thought leaders can create, congregate, collaborate, and commercialize. Discovery Park District supports Purdue’s mission, expands the area’s knowledge-based economy, and enhances the quality of life in the greater Lafayette, Indiana area. The Purdue Research Foundation has partnered with Browning Investments, LLC for the master planning and development of the district. More at www.discoveryparkdistrict.com.
Browning changes skylines and communities by developing, building and managing game-changing commercial real estate projects. With a reputation for executing large transactions and complex projects, the firm’s diversified portfolio includes market-leading industrial, office, mixed-use, healthcare, life science and higher education projects. Established in 1977, Browning is based in Indianapolis. More at www.browninginv.com.
About JC Hart Co. Inc.
For 40 years, the J.C. Hart Co. has been developing, building, and managing distinctive apartment communities. More at www.homeisjchart.com.
About Purdue Research Foundation
The Purdue Research Foundation is a private, nonprofit foundation created to advance the mission of Purdue University. Established in 1930, the foundation accepts gifts; administers trusts; funds scholarships and grants; acquires property; protects Purdue’s intellectual property; and promotes entrepreneurial activities on behalf of Purdue. The foundation manages the Purdue Foundry, Purdue Office of Technology Commercialization, Purdue Research Park and Purdue Technology Centers. The foundation received the 2016 Innovation and Economic Prosperity Universities Award for Innovation from the Association of Public and Land-grant Universities. For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at email@example.com.