Purdue News
Purdue News
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November 6, 2001 Discover Purdue celebration features growth of research parkWEST LAFAYETTE, Ind. – A Discover Purdue celebration at the Purdue Research Park today (Tuesday, 11/6) put the spotlight on the park's expansion plans and the opening of Vistech I, the park's first privately-owned, high-tech, multi-tenant facility.
"The university, the Purdue Research Foundation and the city are working together to spur substantial and sustained growth in the high-tech sector of our state and local economy," said Purdue President Martin C. Jischke. "Expanding the research park, encouraging new ventures and welcoming private investors into the process will strengthen and diversify our economic base." The research park expansion plans call for the extension of Win Hentschel Boulevard and the development of several adjacent building sites designed to entice high-tech companies to settle in West Lafayette.
"We want technology companies to know that we are preparing a place for them here," said West Lafayette Mayor Sonya Margerum. "Our community offers university expertise, a great location between Indy and Chicago, a terrific quality of life, a knowledge-based work force and a premiere research park. It's a combination that is hard to beat." The West Lafayette Redevelopment Commission has adopted a resolution to release tax increment financing (TIF) funds to supplement the foundation's investment in the project. The extent of the project and the amount of TIF funding is yet to be determined. The initial development phase, phase II of the park's master plan, includes the road extension into the northwest quadrant of the park and infrastructure for the lots to be developed. Infrastructure includes storm sewers, curbs and gutters, sidewalks and common areas, street and traffic signs, seeding, berming and pavement markings. The master plan for phase II, encompassing approximately 50-acres, also includes connecting access roads from Win Hentschel Boulevard to Yeager and Kalberer roads "This is an exciting time for the park because, with these expansion designs, we can begin to see the park's future," said Michelle White, the foundation's interim vice president and treasurer. "High-tech companies are looking for this type of cutting-edge, yet relaxing atmosphere. The expansion plans feature high-speed Internet access and two-way videoconferencing, as well as a seven-acre lake, a large commons, spacious parking lots, and numerous walkways that will connect to the area trail system." Last year, the city participated in the installation of infrastructure supporting the first stage of Win Hentschel Boulevard, extending from U.S. 52 to Kent Avenue. This road, adjacent to Great Lakes Chemical Corp., will be the research park's new main entrance. Shortly after the first leg was completed in late 2000, a group of private investors began building Vistech I, a $6 million office building on Win Hentschel Boulevard, to provide additional space for growing, high-tech ventures. The 73,000 square-foot, two-story building is funded by Research Properties LLC and constructed by Tecton Construction Management Inc., Lafayette firms headed by Mike Witteveen. Joining Witteveen as investors in Research Properties LLC, the building's owner, are the Hingst family of Kokomo, Ind., and West Lafayette, and the Don Brouillette family of Fowler, Ind. Brothers Bob and Bill Hingst of Kokomo, and Ted Hingst of West Lafayette, operate Kokomo-based Mid America Beverage Inc. All three are Purdue graduates. The Don Brouillette family owns and operates Demeter Lp, an agribusiness and investment group. "We're encouraged by the response our building has received in the marketplace. The technology pipeline from Purdue isn't showing any signs of slowing," said Witteveen. "Brand new 'Class A' space is a bargain at $4 to $6 less per square foot than comparable space being leased in Indianapolis." The new building’s exterior includes blue-green, high-reflective glass and two types of masonry – red brick and colored split-face, hand-scored block. It also features a covered entrance, landscaping and a pedestrian plaza with an outdoor sculpture. Billed as "Class A" technology space, the interior includes state-of-the-art wiring and security, locker rooms with showers and kitchenettes, and individual suites will be finished to suit tenant needs. A 4,000-square-foot suite on the ground level is being finished for the building's first tenant, Dynamic Systems. The rapid growth of this company, which is currently leasing space in the park's incubation complex, requires additional office space. Vistech I will join four other entrepreneurial buildings in the research park owned by Purdue Research Foundation. The 60,000 square-foot Purdue Technology Center, 14,000 square-foot Hentschel Center, and 28,000 square-foot Business and Technology Center make up the park's incubation complex. In addition, the park's 48,000 square-foot Innovation Center serves companies that have moved beyond the incubation stage. The research park currently encompasses 619 acres about two miles north of campus. Almost 150 acres have been developed with approximately 1 million square feet owned or leased by more than 100 companies. Many of these companies are developing Purdue-licensed technologies. "Discover Purdue" is the theme for an yearlong invitation to learn about Purdue University – its leadership and its future potential for economic development, research and education. Writer: Jeanine Phipps, (765) 496-3133; jeanine@purdue.edu Sources: Michelle White, (765) 494-8642; mlwhite@purdue.edu Sonya L. Margerum, (765) 775-5100 Mike Witteveen, (765) 429-5232; mwitteveen@tectoncm.com Rod Evans, leasing agent, F.C. Tucker/Lafayette Realtors, (765) 447-8886 or (765) 426-1028 Purdue News Service: (765) 494-2096; purduenews@purdue.edu Related Web sites: PHOTO CAPTIONS: A publication-quality photograph is available at https://news.uns.purdue.edu and at ftp://ftp.purdue.edu/pub/uns/white.vistech Purdue Research Park’s phase II expansion plans call for the extension of Win Hentschel Boulevard and the development of 50 acres, including a 7-acre lake, large commons area, numerous walkways and several adjacent building sites designed to entice high-tech companies to settle in West Lafayette. (Courtesy of Schneider Engineering Corp.) A publication-quality graphic is available at https://news.uns.purdue.edu and at ftp://ftp.purdue.edu/pub/uns/white.expansion
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