Village Promenade project details released

Developers are getting ready to start the foundations of the $54 million mixed-use facility in the Village, now that construction of the parking garage has begun.

The project, now called Village Promenade, will see its foundations take root this week, said Chase Sorrick, co-founder and developer at Investment Property Advisors.

Leasing information for the 266 apartment units in the Village Promenade will also be available soon. He said IPA has hired American Campus Housing, an Austin, Texas-based company, to manage the leasing of the units.

He said they submitted their building permit application Monday, but it may take a day or two before it is approved.

Sorrick met with the Village Review Committee, a group of city officials that oversees the development’s progress, to brief them on the current status of the project.

Sorrick said they discussed floor plans as well as updated the committee on the materials being used for the outside of the building.

The two buildings that make up Village Promenade will have brick facades facing the streets and on-street parking.

The west building will wrap around the $5 million parking garage that is currently being constructed by Muncie-contracted Garmong Construction, while the eastern building will feature underground parking.

IPA also will work with Muncie to address drainage problems that have been prominent in the Village area.

“In our landscape, we’re planning a rain garden and extending a sewer main down North Street that will improve the capacity,” Sorrick said. “Even though we’re adding to the demand of the system, it will be improved from what is there now.”

Seventy thousand square feet of green roofing will go into the facility, Sorrick said, which will relieve a lot of rain water that normally drains into the sewers.

“The situation is going to be better over there than it is now,” he said.

ACH will move into a temporary leasing office in the Village, replacing Crave Hair Studio. ACH has managed more than 70 on-campus housing developments, according to its website.

The salon will relocate downtown Saturday and will open Monday, said owner Ron Crouch.

Sorrick said they haven’t decided on when the leasing office will open, but they are aiming for in about three weeks.

The units leased will each include an amenities package consisting of a fitness center, a swimming pool, a multimedia center, private study rooms and a roof terrace overlooking the Village, according to an email from IPA. Each unit also will be fully furnished and include a kitchen with granite countertops, a microwave, a dishwasher, an electric oven, a garbage disposal and a refrigerator.

Rates for the units have not been released, but Sorrick said the marketing efforts will start once ACH is on site.

Before construction begins, IPA said there will be a ground-breaking ceremony this month with Mayor Dennis Tyler present.

Sorrick said IPA should have some commercial tenants confirmed by then.

“We’ve been getting a lot of inquiries, but no one committed yet,” he said. “We’ve been working with a few, and I think we will have some committed within the next couple of weeks.”