$80M reportedly committed to BSU Village revitalization
It's an "indication of what resources were available based on their ongoing conversations"
MUNCIE — It only received one line in a 328-page state READI grant application, so it’s not certain that it will happen.
But it’s there in black and white: “Reimagining the Ball State Village. Anticipated cost $100,000,000. Committed funds $80,000,000.”
It’s no secret that Ball State University has been interested in spearheading a reinvigoration of The University Village commercial-residential neighborhood just southeast of campus.
Two years ago, the school issued an RFI or request for information to more than 50 developers that identified five potential building sites in the district.
More recently, the $100-million “Reimagining the … Village” plan was listed in the East Central Indiana Regional Partnership’s “Forge Your Path” application for $50 million in READI funds.
The Village was not chosen as one of the top priorities for READI dollars, but it was listed as one of many initiatives and concepts that were submitted through the East Central Indiana Regional Call for Projects.
“While not highlighted as a catalyst project for funding through the READI process, these initiatives support the Region’s vision and will provide for measurable outcomes that are in alignment with the region’s goals and objectives,” the 328-page report said.
What does it mean when the report says that funds have been “committed” for an initiative or concept?
“Committed funds represent the resources project owners could gain access to if the project were to move forward,” landscape architect Katie Clark, consultant to the regional partnership, told me.
“In our Call for Projects, we asked project owners to give us an indication of what resources were available based on their ongoing conversations and project development processes,’ Clark said in an email. “These amounts represent a variety of funding types — from municipal contributions, awarded grants, private business/ organization funds to in-kind resources. The amounts indicated within the plan were dollar amounts provided as a part of that open Call for Project responses process.”
Lea Cadieux, interim vice president for marketing and communication at Ball State, was able to provide me this update regarding the school’s plans to revitalize The Village:
“Ball State University has and will continue to determine ways to advance development in The Village. The amenities, and vibrancy of our surrounding neighborhoods, are important steps in creating a quality of place for students, faculty, staff, and community members.
“We know that the implementation of a development plan will be a long-term, phased process. When we finalize the development details, and the process for advancing the plan, we will be in a better position to provide information to all stakeholders in our community.”
The East Central Indiana region’s grant application for READI (Regional Economic Acceleration and Development Initiative) funds is scheduled to be acted on before the end of this year.
A renewed Village is just one of dozens of project ideas submitted to the regional partnership.
Examples of others that were supportive of regional efforts but not ranked as priorities for READI funding include (anticipated cost, committed funds):
Infrastructure Investment at Interstate 69 and Ind. 332, $50 million; $0.
Silver Towne Mint — Vision Business Park Infrastructure, Randolph County, $8.1 million; $7 million.
YMCA of Muncie Capital Campaign and Early Childhood Education Center Project, $30 million; $2 million.
Kitselman Flats, Muncie, $20 million; $16 million.
Riverbend Flats Riverfront Recreation, Muncie, $12.1 million; $11.3 million.
Possible building sites identified in The Village include:
A vacant block on the northeast corner of McKinley and University avenues.
Part of a block on the southeast corner of the same intersection.
A block at the southeast corner of Martin and North streets, behind The Village Promenade student apartment complex.
A former branch bank now used as the leasing office for BSURentals across the street from Roots Burger Bar.
Part of a block on Martin north of a Jimmy John's restaurant adjacent to the new science building housing the school’s biology and chemistry departments.
Ball State’s apartment communities, Anthony and Scheidler, which house upper-level single students, students with families, and Ball State faculty members, are nearing the end of their lives. It’s possible they could be replaced with housing in The Village for those types of tenants. The campus master plan calls for bringing those outdated apartments closer to a denser campus.
The university is not likely to own all of the future projects in The Village. Any new development could mix private projects with some public/private opportunities, the school has said.
