Subtext Opens Student Housing Near Purdue
The community is one of several recent student housing properties to debut in the college town.
West Lafayette, Ind., home of Purdue University, has welcomed an additional student housing property with the opening of Subtext’s VERVE West Lafayette. The seven-story mixed-use community is located two blocks from Purdue University.
The development at 150 S. Chauncey Avenue is Subtext’s first project near Purdue and its second in Indiana following VERVE Bloomington near the University of Indiana Bloomington.
VERVE is a 235-unit, 400, 310-square-foot community that features fully furnished studio, one-, two-, three- and four-bedroom apartments, totaling 751 beds. Apartment features include high-speed internet, controlled access and designer finishes.
WDG Architecture was the community’s architect, with interior design by Ankrom Moisan. Other development team partners include Brinkmann Constructors, which acted as general contractor, TBIRD Design Services, which was the project’s civil engineer. PNC provided financing.
Subtext is also in the process of developing EVER West Lafayette, its second West Lafayette project. That property is scheduled to open across the street from VERVE West Lafayette at 147 West Wood St. in 2025.
Purdue is a top five university for preleasing at 93 percent, according to Yardi Matrix data. Last November, Subtext broke ground on VERVE II in West Lafayette. That property could be ready by next August. Landmark recently debuted a community in the area that is expected to be completed by fall 2027.
Competitive amenity suite
VERVE West Lafayette features two restaurants and a high-end bodega on Chauncey Street and provides residents with a short walk to the core of the Purdue campus and State Street’s shops and restaurants. The property is 100 percent preleased for the 2024-2025 academic year.
The community is the only student housing property in the area with a year-round hot tub, according to Subtext. The property also boasts active and Zen courtyards, which, between the two feature a pool, jumbo television, outdoor kitchen, multi-purpose lawn, grill stations, firepits, hammocks and a dog park.
