The Terre Haute City Council along with the Economic Development and Redevelopment Commissions have all given their approval this week to a proposed student housing development in downtown Terre Haute.
City Council members voted unanimously to issue $1.2 million in bonds to help finance the $17 million dollar project alongside Indiana State University and developer Thompson Thrift.
There project expects student housing to be leased by ISU on the upper floors and retail space on the ground floor.
Before the project goes any further, the state budget committee must give their approval.
Right now that is on hold as the committee has expressed concerns over the multi year, multimillion dollar proposed lease between ISU and Thompson Thrift.