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South Street Alters $50M Student Housing Plan

WEST LAFAYETTE, IN-The company has added parking spots to the project, though there’s still less parking than the community has requested. A planning meeting is set for Jan. 18.

By Robert Carr | Updated on January 13, 2012

WEST LAFAYETTE, IN-South Street Capital is challenging the city’s longtime requirement on parking to build a $50 million student housing complex across from Purdue University’s Mackey Arena, onthe site of an old retail strip center. The company recently upped its amount of parking for the six-story, 600-bed property, which would also feature 35,000 square feet of retail, but the number of spots is still short of city standards.

Both sides admittedly have tried to meet in the middle. Marc Muinzer, co-founder of South Street, tells GlobeSt.com that his firm has gone from an initial plan of 150 parking spaces to 295 spaces. However, the Area Plan Commission has historically required a 1-1 parking spot ratio to bedrooms, which has held back student housing around the campus. For this project, the commission has dropped its requirement from 680 spots – 600 for the beds and 80 for the retail – to .75 spots per bed, so about 450 parking spots total.

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