Indiana State University announced plans yesterday to build a new student housing complex in the 500 block of Wabash Ave.
The current facades of the buildings on that block will be used in the construction of the new buildings.
The project will include three floors of student housing, with retail space o the ground floor.
The building would be built and owned by Thompson Thrift.
A 30-year lease agreement to Indiana State’s board of trustees on Friday that will give the university control over the student housing portion of the building.
That will include an estimated 228 beds.
The university will be responsible for all maintenance and operating costs of the residential portion of the facility, including any real estate taxes.
The project should be completed by fall 2015.