Thompson Thrift Development and Indiana State University are working together to develop a student-housing project at 500 Wabash Ave. in downtown Terre Haute, Ind.
The student housing will occupy Wabash Avenue frontage from Fifth Street to Sixth Street on the north side of the avenue. Construction crews will preserve the historic facades of four of the site’s five buildings.
The project will cost $17.5 million.
The four-story building will house about 228 Class-A student-housing beds. Indiana State University will lease floors two through four. The building will total 103,000 square feet, including 19,000 set aside for retail use.
Construction is expected to start in the late summer of this year. The project should take about 18 months to complete.