Indiana University Breaks Ground on $52M Neuroscience Research Center

by Adriana Pop, Associate Editor

Leaders of Indiana University and Indiana University Health celebrated the groundbreaking of a new center for neuroscience research in Indianapolis.

Scheduled to open in 2014, The Indiana University Neurosciences Research Building will be located at West 16th Street and North Senate Avenue and will offer 138,000 square feet of space. The structure will adjoin the 270,000-square-feet ambulatory care and imaging center of the IU Health Neuroscience Center currently under construction.

“Neuroscience research is a key priority for both Indiana University and our partners at Indiana University Health, and the construction of what will be an extraordinary facility will result in one of the greatest concentrations of neuroscience research and clinical talent in the country,” said Indiana University President Michael A. McRobbie.

The cost of the new development is $52 million, including $35 million in financing from the state of Indiana. The building was designed by Indianapolis architecture and engineering firm BSA LifeStructures and will seek LEED Silver Certification, while Messer Construction Co. of Cincinnati will serve as construction manager.

In other news, all 100 apartments in the first phase of the $155 million CityWay project developed by Buckingham Cos. in downtown Indianapolis have been leased. The Indianapolis Business Journal reports that starting October, the first residents are expected to move into two buildings with first-floor retail along Delaware Street.

The second phase of the project entails the development of three residential buildings with a total of 150 units. The apartments should be completed by the spring of 2013, and 20 units have already been reserved.

Scott Travis, Buckingham’s senior development executive told the newspaper that the strong response to the project’s apartment offerings could lead to the development of additional units.

CityWay’s prices range between $975 for a one-bedroom to more than $3,000 for a three-bedroom, three-bath townhouse, well above the area’s 2011 average rental rates. Last year’s average for a one-bedroom downtown was $758 and $1,788 for a three-bedroom, three-bathroom, Tikijian data shows.