Total debt and equity funding
Located in the heart of the Discovery Park District on the west side of Purdue University campus, Aspire at Discovery Park is an integrated living/learning community delivering residential units along with academic and retail space.
Opened in August 2019, the four-story, three-building 387,000ft² complex is available to students, faculty staff, and the greater community and will provide approximately 8,000ft² of community and academic space as well as a mix of restaurants that will be included in the site’s approximately 16,000ft² of retail space.
As the majority shareholder, Balfour Beatty led the financial structuring and development efforts. Balfour Beatty Communities is handling property management and operations of the student housing.
The development involved a large number of stakeholder groups, including Purdue University, Purdue Research Foundation, the district’s master developer Browning Investments LLC, as well as Tippenacanoe County. The key to project success was carefully balancing each group’s expected outcomes with project feasibility.