Purdue Fort Wayne building new 600-bed student housing project

CHICAGO, Oct. 24, 2024 - JLL announced today that it has successfully advised Purdue University Fort Wayne (PFW) and the Purdue Fort Wayne Foundation on the feasibility and strategy for finding a private-sector partner to develop a new 600-bed student housing project on the PFW's North Campus.

PFW is the largest public university in northeast Indiana. Located on nearly 600 acres in the second largest city in the state, it offers a traditional campus experience within a thriving metropolitan setting. The growing university is building the new, state-of-the-art student housing project to serve upperclassman, graduate and international students on 18 acres of land owned by the PFW Foundation.

JLL performed front-end financial feasibility work to assess the viability of a new student housing project and developed and marketed the opportunity with the goal of identifying a private partner to design, build, finance, operate and maintain the new housing project. JLL then assisted the university and foundation in the evaluation of the offers and negotiated the agreements governing the transaction.

The university selected Gilbane Development Company to develop and manage the project, which will be delivered by the start of the fall 2026 semester. Designed by Progressive AE, the project will include modern amenities, including 176 fully furnished units, study areas, a reception area and entrance lounge, gaming room, leasing office, floor lounge, multipurpose room, grab-and-go convenience store and a fitness center. The outdoor space will feature grilling and fire pits, along with an area for sand volleyball and a basketball court. The university will provide a shuttle to and from its Main Campus.

"The dynamics of the Purdue Fort Wayne campus have changed dramatically during the past few years," said Ron Elsenbaumer, Chancellor, Purdue University Fort Wayne. "The university is focused on bringing more people to the area to help fill the employee pipeline. Student housing is a necessary component of that strategy."

In addition to enhancing the student living experience, the project emphasizes sustainability, incorporating energy-efficient appliances, lighting, water conservation measures, native landscaping, stormwater treatment, and construction waste management strategies.

The complex, which has been designed to have minimal impact on the neighborhood, will include a generous public drop-off area for campus shuttles and rideshares, as well as strategic parking placement with over 450 spaces to complement multiple pedestrian connections.

"This project arrives at a very important time for the university," said Glen Nakata, Vice Chancellor for Financial and Administrative Affairs, Purdue University Fort Wayne. "We continue to look for innovative ways to meet the needs of current and prospective students who are driving our transition from being a commuter campus to one that offers a more traditional residential environment."

Executive Vice President Lindsay Stowell and Vice President Nina Farrell with JLL's Higher Education division advised PFW.

"JLL is thrilled to have partnered with Purdue University and the PFW Foundation to bring much needed student housing to the Fort Wayne campus," Stowell said. "This project is a great example of leveraging private capital to deliver critical assets, while generating significant cash flow for the Foundation from its otherwise underutilized land."

"This project is a triumph for both Purdue University Fort Wayne and the broader Fort Wayne community," Farrell added. "By providing accessible and affordable housing near campus, we're not just building rooms-we're building opportunities. This development will be a cornerstone in supporting the university's growing student population, enhancing their academic journey and contributing to their overall success. It's a testament to Purdue University's commitment to nurturing talent and fostering a thriving educational environment that will benefit students and the entire Fort Wayne region for years to come. JLL is honored to have been a part of this story."

JLL is the premier provider of strategic real estate advisory for local, state, national and federal governments as well as public and education institutions. Its national team covers the entire real estate lifecycle from strategy, public-private partnerships, facilities management and sustainability services to transaction and project management. JLL brings both the experience and expertise to convert real estate portfolios into working assets that meet operational and occupancy requirements while generating revenues and reducing costs. Visit us.jll.com/education.

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