Butler picks developer for $45M campus project

October 1, 2012
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Butler parking project mapButler University trustees have picked locally based Keystone Group to build a parking, retail and residential project on campus between Clowes Hall and Hinkle Fieldhouse that would cost as much as $45 million. A university official said the school and developer still need to hammer out a project agreement before the deal is final. The trustees selected from among a group of three finalists that also included Kite Realty Group and Lauth Property Group. The plans call for about 1,000 parking spaces, up to 10,000 square feet of retail space, and 300 beds of student housing on three acres of university-owned property between Sunset Avenue and Lake Road on the Butler campus. Much more information, including details on the project's architectural character, financing arrangements and schedule for construction, are available in our full story. (Subscription required.)

This post has been updated.

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  • My comments...
    MarkOctober 2, 2012 12:33 PM
    ....require a subscription to read.
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  • A Taxpayer Connection?
    PoliticoOctober 2, 2012 2:00 PM
    Who is behind this Company? Maybe Keystone is bringing our taxpayer funds to the negotiating table with them. Does Butler leadership realize that the last garage they proposed (and are now building) in our neighborhood was below the flood plain and funded by our taxpayer dollars? Butler is not creating harmony with Butler-Tarkington locals on this one.
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    • What's the problem?
      DCollinsOctober 2, 2012 7:34 PM
      Dear Politico, Why is it when a company is successful some people always think something illegal must be going on ? How about considering the hard work and, yes, the investment in both good solid advertising and other marketing tools such as reaching out to politicians who help influence laws and also where tax dollars are spent. This is not only legal but its smart when a company is in the business of competing for government contracts. It's been that way longer than either of us has been around.
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    • Huh, Politico?
      ChrisOctober 3, 2012 4:56 AM
      Politico, what does the garage in Broad Ripple have to do with Butler? This will be built on their private property, and Butler has never asked for local taxpayer funds for any project it has built. Also, you need to learn your neighborhoods: Butler is NOT in Broad Ripple, it is in Butler Tarkington--the university's location gives the neighborhood its name. As mentioned, the public-private joint venture garage with the flood plain issue is in Broad Ripple. If you want to gripe about the Broad Ripple garage, please do it under a relevant story.
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      • great to hear
        MicahOctober 8, 2012 11:03 AM
        It's good to know a private University is encouraging this type of development. It's a much needed asset, I believe, not just for the school but also for Butler-Tarkington neighbohood. I think Politico proves it just takes a surface parking lot to keep people confused about where they are in this town, lol.
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      1. So the Mayor adds another non value added layer to having a vehicle towed? Whereby the City Government RECIEVES AN ILLEGAL KICKBACK FROM A LGOISTICS COMPANY THAT SUBS THE WORK TO LOCAL TOW COMPANIES? What is the service the City performs for receiving the "tribute"? This is RICO!!!!! What a corrupt and unnecessary layer. What a dirtbag Mayor and his cronies.

      2. Owner occupied housing. Clear enough?

      3. So people think I am paranoid. It's from experience in dealing with puds requested by developers who make major donations themselves to representatives, have nice fund raisers for those running for office and hide through pac's. then there are the public relation firms. You will note some pr comments below. You there Clyde Lee? My opinion. Commercial along 421, great. Multifamily housing, terrible idea that will change the town. Senior condos or zero lot line homes west, great. I suggest keeping all entries to commercial areas at 421. All entries to owner occupied on sycamore. Will keep the traffic on sycamore down some. Two other things. You can't trust what will be there in 10 years. Steve builds quality stuff, but areas change over time. Look at the changes at the wall mart center at 86th and 421 over the last 10 years. Look at the apartments and neighborhoods behind St Vincent's. Raintree properties WILL decrease in value if commercial and multifamily goes in near. It has already been happening around the bridges area. The houses that have been sold recently are way below market. Several deals not closed due to the Illinois construction and the whole unsurety of the bridges. It's pretty simple, Zionsville will approve the whole thing because the city council has been groomed over a LONG period of time for this. I might even suggest some are in their position as a result of this.

      4. Esta, do you have a dog in this fight? You seem to really want to knock anyone against this project. No, I didn't move to Indiana for the architecture. I moved here for that red barn in the field. The horses and fields of corn. A place that is NOT overdeveloped. There are plenty of nearby places in Indianapolis that could be REDEVELOPED instead.

      5. RKW - OK, we get it, you're paranoid. The question is, are you paranoid enough? Greg - Yes, Pittman(s) is (are) at it again. They are developers, they build things. It's what they do. So when you go to work tomorrow, Greg, you're at it again too. Cliff - Really? You moved to Indiana for its progressive architecture? That's like moving to England for the cuisine. Zionsvillain - The house you moved to was once a field or woods. I'm willing to bet folks were upset when that ground was plowed under and a house was built. But I guess now that you are in, everything should stop? "My house was OK, but the next one is sprawl." SE Guy - Please don't paint us with such a wide brush. Most reasonable Zionsville residents welcome planned, measured development.

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