Ball State board approves Village revitalization plan
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The Ball State University Board of Trustees on Friday approved a development agreement for its previously-announced revitalization plan for The Village commercial district adjacent to the Muncie campus.
The plan includes additions to five sites, including a new performing arts center, a hotel, and dining, retail and residential space.
A Ball State spokesperson said it is too early in the planning process to estimate an overall cost, but the university said the performing arts center, which will serve as the catalytic anchor for the district, is expected to leverage about $80 million in private investment in the project.
Plans for the performing arts center were first announced in December, when the university received a total of $7.5 million in gifts for the project. At that time, Ball State said the revitalization plan included a $100 million mixed-use development, but declined to provide additional details.
The plan for the five sites is as follows:
- Site No. 1: The new performing arts center at the northeast corner of University and McKinley Avenues in Muncie. The site will also feature a privately-owned hotel and thematic restaurant. Construction could begin in Fall 2024 and be completed by Fall 2026.
- Site No. 2: This site will feature retail and restaurant tenants, as well as apartments on the southeast corner of University and McKinley Avenues. A potential start date for construction is yet to be determined.
- Site No. 3: An innovation center with a mix of university and private tenants will be located on the southeast corner of Ashland Avenue and Martin Street. This site will also have a connection to Ball State’s East Mall. Construction could begin in Fall 2024 and be completed by Summer 2026.
- Site No. 4: An activity center and event plaza is planned for the southwest corner of University Avenue and Martin Street. Construction could begin in Fall 2024 and be completed by Summer 2026.
- Site No. 5: For-sale townhomes and condos, as well as apartments are planned for the site between North and Gilbert Streets. A first phase of construction could begin in Fall 2024 and be completed by Summer 2026.
Ball State has contracted Fairmount Properties, a development firm based in Orange Village, Ohio, to develop the project.
“At Ball State, as outlined in our strategic plan, we have pledged to partner with the community to improve the lives of our neighbors,” Ball State President Geoffrey Mearns said in a news release. “We anticipate this project serving as a catalyst for other collaborative opportunities with community stakeholders to enhance the quality of life and place in and around Muncie.”
Ball State said the revitalization of The Village is part of the university’s Destination 2040: Our Flight Path strategic plan.
Additionally, the Ball State board approved a 3% raise in tuition and mandatory fees for the 2023-24 academic year, resulting in $318 more for in-state students and $842 for non-residential students.
“As we have done historically for the last decade-plus, our Board continues to focus on keeping rates unchanged or very low if increases are necessary,” Board Chair Renae Conley said. “Our students and families—as well as Indiana taxpayers—depend on us to ensure Ball State remains accessible and affordable.”
Ball State said it provide the lowest in-state undergraduate tuition and room and board rates among all 12 Mid American Conference schools.