May 16, 2016

Terre Haute Council Votes No For Student Apartment Abatement

Architectural rendering for the proposed Annex 41 in Terre Haute. - Photo Courtesy Annex Student Living

Architectural rendering for the proposed Annex 41 in Terre Haute.

Photo Courtesy Annex Student Living

An Indianapolis developer wants to build a four story, $25 million student apartment building next to Indiana State University, but is asking for a five-year tax abatement from the city.

The Tribune-Star reported that Terre Haute City Council voted not to grant the abatement to developer Annex Student Living.

Mayor Duke Bennett says usually residential projects are not considered for abatement requests.

“You have to make sure it’s in a distressed area that it’s really going to lead to the economic boon that you hope it is, you have to take those factors into every unique project and say does it make sense for this one versus this one,” Bennett says.

The property is the location of the former Terre Haute Boys and Girls Club on U.S. 41.

Bennett says Terre Haute needs more residential and commercial growth and hopes the project will move forward without the abatement.

The developer originally planned to begin construction this fall with completion by fall semester of next year.

Support independent journalism today. You rely on WFYI to stay informed, and we depend on you to make our work possible. Donate to power our nonprofit reporting today. Give now.

 

Related News

City-County Council members considers ways to increase urban forests
City's animal shelter faces critical level of being understaffed and overcrowded
Latest round of violence prevention grants aims to help youth