74 former ISU lots north of campus go up for sale with a $6,500-per-lot infrastructure incentive

What happened

The city has 74 buildable lots for sale — land Indiana State University gave up as it consolidated its campus, roughly bounded by 3rd Street, 13th Street, and Locust Street north of campus. Each lot costs $4,000 to purchase, and the city is offering a $6,500 infrastructure incentive per lot to help cover sewer, driveway, sidewalk, and water-line work.

Who it affects

If you live near the ISU footprint north of campus, this is the city's plan to get new construction on land that's sat vacant since the university consolidated — comparable property values there have been low, which Thrive says has made developers hesitant to be first.

The outcome

No council vote was taken; this is a city redevelopment program already underway. Thrive is working with a first developer expected to bring a project to the redevelopment commission soon.

Sources

• Lot boundaries confirmed, 27:42
• Purchase price and ARPA infrastructure incentive explained, 28:21
• Neighborhood boundaries described, 27:08
• First developer working with Thrive, 11:44

Also known as: ISU parcels · Indiana State University land partnership · 74 lots north of campus · ISU redevelopment lots