Last modified: Friday, November 3, 2006
IU Trustees approve on-campus housing for IU Southeast
FOR IMMEDIATE RELEASE
Nov. 3, 2006
FORT WAYNE, Ind. -- The Indiana University Board of Trustees today voted approval for IU Southeast to proceed with an on-campus housing project.
The approval is a major milestone for the regional campus at New Albany, Ind. However, approval must also be given by the Commission for Higher Education and the State Budget Committee before IUS can proceed. IU officials will seek a decision from both entities before the end of the year.
IUS is the second regional campus to win approval from the IU Trustees for on-campus housing. Trustees voted in September to authorize on-campus housing at IU South Bend.
IUS presented Phase I of a two-phase program that would result in the construction of five buildings for student residences in Phase I and two additional buildings in Phase II. Three of the buildings would have an 87-bed capacity and two would have a 71-bed capacity for a total of 403 beds. Plans call for the new on-campus residence halls to be open in time for fall 2008. The buildings will be located at the center of campus, just west of the current academic buildings and surrounding an existing lake.
The buildings are to be based on a "lodge" concept with large, open community spaces in each building designed to foster student engagement and interaction. Typically, room choices would include apartments that are four-bedroom, two-bath or two-bedroom, two-bath with full kitchens.
The estimated cost for Phase I of the project is $20 million, which would be funded through bonds and repaid from student housing revenue. Phase II of the project, if approved, would add approximately 300 additional beds.
"This is one of the most significant events in our 65-year history," said IUS Chancellor Sandra Patterson-Randles. "The addition of housing to our campus will not only dramatically affect the physical look and feel of our campus, but will also transform daily campus life and our educational environment, as well as make a substantial economic impact on the community."
Kevin Hammersmith, a member of the IUS Board of Advisors and manager of business relations for Duke Energy in Clarksville, Ind., wrote in a letter of support that it was important for IUS "to grow and change in tandem with the communities that it serves."
The initial economic impact on the Louisville, Ky., metropolitan area for the next two years, including the construction costs for the new buildings, is estimated to be $44.3 million. Once the housing units are constructed and occupied, the annual economic impact on the regional economy is expected to be just over $2 million.
IUS has pursued on-campus housing for 18 years, but did not have clear guidelines for submitting a proposal to the IU Trustees until earlier this year. Patterson-Randles said that once the guidelines were approved, housing became the administration's "highest priority."