Something interesting is brewing in West Lafayette’s real estate scene.
The Neighborhood in Question
Provenance is a new development sitting right on the west side of Purdue’s campus, along State Street. It’s taking over what used to be married student housing and sits in the Discovery Park District. This isn’t just any neighborhood – it’s a $130 million project with big plans.
The Current Landscape
Right now, the development has one apartment building on the east end and a mix of single-family homes and townhouses. But here’s the kicker – these aren’t budget homes. Townhouses start at $500,000. That’s not a typo.
The Developer’s Curveball
Old Town Design Group, based in Carmel, just threw a major wrench into their original plans. They want to rezone nearly 10 acres from single-family homes to brownstone-style apartments. We’re talking about changing from 88 single-family homes and townhomes to 197 apartment units.
Homeowners Say “Not So Fast”
The existing homeowners – and there are about 20-30 of them right now – are pushing back hard. Their concerns?
- Property values
- Neighborhood character
- Breaking the original promise of what the community would look like
The Numbers Don’t Lie
Let’s talk real estate math:
- Median home price in West Lafayette: $361,000
- Provenance townhouse price: $500,000
- That’s about 50% higher than the local median
The Current Standoff
The Area Planning Commission already recommended the rezoning in August with a 10-5 vote. But the homeowners have made enough noise that Old Town Design Group has asked West Lafayette to pause for at least a month.
What’s Really Going On?
The developer originally planned some condos in another area but scrapped those plans. Now they’re pivoting to apartments in Provenance. But are they truly responding to market needs, or just trying to maximize their investment?
The Bigger Picture
This isn’t just about one neighborhood. It’s about the ongoing tension between developer plans and community expectations. It’s about how we grow and develop areas near major institutions like Purdue.
My Take
As someone who talks to students and homebuyers constantly, I see both sides. There’s a real need for housing near Purdue, especially condos and apartments. But it has to be done right.
What’s Next?
The rezoning decision has been pushed from December to January. I’ll be watching closely and keeping you updated.
Interested in learning more about real estate in the Purdue area? Want to understand what’s really happening in our local market? Reach out. I’m always happy to chat.