Purdue Research Foundation and Browning Investments LLC have announced a partnership to develop approximately 450 acres at the west end of the Purdue University campus called the Purdue Innovation District.
Development will total several million square feet with total investment in excess of $1 billion. Browning and Purdue Research Foundation have come together to build a preeminent environment for educational, economic, cultural, community and real estate development with a long-term plan and vision.
Browning will lead a comprehensive master planning effort that will take place over several months and produce a design for streets, land use, infrastructure, and open spaces that serves as a road map for future development.
The full plan will include student housing; non-student residential; hospitality; lab, research and other collaboration spaces; office; discovery and entrepreneurial spaces; retail; public spaces; and aerospace industry-focused research, advanced manufacturing and light industrial space.
The development project is in large part due to the history of collaboration among Purdue, Browning, and West Lafayette, and will complement other initiatives already taking place on the west side of campus including the State Street Redevelopment Project, Horticulture Park, Todd’s Creek relocation, New recreational fields, Purdue Child Care Center and the Rolls-Royce facility at the Purdue Research Park Aerospace District.
With nearly 50 percent of Purdue undergraduate students living on campus, Purdue’s on-campus housing is experiencing a 17-year high. It is anticipated that number will increase in the coming academic year. Purdue data show that students who live on campus are more likely to graduate in four years, stay in school at a higher rate than their off-campus peers, earn better grades and are more likely to have leadership opportunities, according to Mike Shettle, Purdue University Residences director of administration.
The Purdue Innovation District will support Purdue’s long-term enhancement and improved quality-of-life goals.
“We are working to support Purdue’s mission including the support of research, innovation, economic development and community development by linking faculty, staff, students, visitors and area residents,” Brian Edelman, Purdue Research Foundation COO, said. “But this is a full university and community effort as there are many, many individuals and entities working together to create a place where world-changing ideas become reality. The State Street Redevelopment Project, Horticulture Park, Aerospace District and now Purdue Innovation District will do more than construct buildings, vibrant thoroughfares and development spaces. The researchers, students, staff, community members and private industry groups will work together to test new lifestyle and collaboration models of the future.”
Interest in developing areas around university campuses has increased in the past decade.
Enabled largely by the State Street project, development of the Innovation District is expected to begin late this year or early 2017. It is anticipated that the impact of the planned district will go well beyond the area.
Jeff Kanable, director of the Purdue Innovation District, said Indianapolis-based Browning was chosen because of its expertise in long-term development projects.