The Indiana State University Board of Trustees has approved a 30-year lease with Thompson Thrift Development for a planned student housing and retail complex at the southern edge of the school’s Terre Haute campus.
Terms of the lease call for the developer to construct a facility that will include an estimated 228 beds on the upper three floors with retail space on the first floor. The university will lease the residential portion of the facility as part of its student housing system.
The Indiana Commission for Higher Education and the State Budget Committee must also approve the project. Once those approvals are granted, construction is expected to start by this fall with completion projected by fall 2015.