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Architectural rendering for the proposed Annex 41 in Terre Haute.
Photo Courtesy Annex Student LivingAn Indianapolis developer wants to build a four story, $25 million student apartment building next to Indiana State University, but is asking for a five-year tax abatement from the city.
The Tribune-Star reported that Terre Haute City Council voted not to grant the abatement to developer Annex Student Living.
Mayor Duke Bennett says usually residential projects are not considered for abatement requests.
“You have to make sure it’s in a distressed area that it’s really going to lead to the economic boon that you hope it is, you have to take those factors into every unique project and say does it make sense for this one versus this one,” Bennett says.
The property is the location of the former Terre Haute Boys and Girls Club on U.S. 41.
Bennett says Terre Haute needs more residential and commercial growth and hopes the project will move forward without the abatement.
The developer originally planned to begin construction this fall with completion by fall semester of next year.
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