Marian Picks Developer For Student Apartments

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Indianapolis-based Browning Investments Inc. has been selected to develop a $10 million housing complex for graduate students at Marian University. Construction on the 88-unit project is set to begin in June and is expected to be complete prior to the 2015 fall semester. April 3, 2014

News Release

INDIANAPOLIS, Ind. - Browning is excited to announce that it will develop and construct a new graduate student housing facility at Marian University on the campus of Indianapolis, Indiana. The project will consist of 88 apartment units (136 beds) with high-quality apartment amenities and finishes. The facility will be a short walk to class yet is designed to look and operate like an off-campus apartment complex.

Scheduled for completion prior to the start of the academic year in 2015, the project is targeted to be leased by graduate students taking classes in the new Michael A. Evans Center for Health Sciences, Indiana's first College of Osteopathic Medicine and other Marian graduate programs. "Browning is honored to once again work with Marian University to expand their campus with this student housing development. Marian University is an outstanding higher education institution in Indianapolis and we congratulate them on their success," says Dale Pfeifer, Director of Real Estate Development at Browning.

Browning has previously partnered with Marian University in developing and constructing their Athletic Complex in 2008, their Music Building in 2009, a student residence hall in 2012 and the Michael A. Evans Center for Health Sciences in 2013.

About Marian University:

At Marian University, our vision is to provide an education that profoundly transforms lives, society, and the world. Our mission is to be a Catholic university dedicated to excellent teaching and learning in the Franciscan and liberal arts traditions. The institution grew out of the dedication and vision of Sister Theresa Hackelmeier and the Sisters of St. Francis, Oldenburg, who established a school in Oldenburg, Indiana, in 1851. The college was founded in Oldenburg in 1936 and moved to Indianapolis in 1937. On July 1, 2009, Marian College became Marian University.

Marian University is located in the heart of Indianapolis, Indiana - one of America's largest and

most vibrant metropolitan areas. Although only 10 minutes from downtown, the safe, beautiful

campus is also perfect for people who enjoy peace and quiet.

About Browning:

Founded in 1977, Browning remains one of the premier development companies in

Indianapolis and is engaged in the acquisition, development, construction, leasing,

management, ownership and disposition of investment real estate properties, primarily in the

Indianapolis metropolitan area. In total, Browning has developed and constructed more than 15 million square feet of space. To learn more, visit www.browninginvestments.com.

Source: Browning Investments Inc.

News Release

Originally Released February 17, 2014

INDIANAPOLIS, Ind. - Marian University officials recently announced new apartments for graduate students on campus, to open in time for the Fall 2015 semester.

"We've conducted surveys of our current students in the College of Osteopathic Medicine, and many have indicated a desire to live on campus," Daniel J. Elsener, president, said. "Having housing that is designed for graduate-level students is essential to our growth plans."

The plans call for a 90,000 square foot, four-story, state-of-the-art graduate apartment building with 136 beds to be constructed on the northwest corner of campus, overlooking the Nina Mason Pulliam EcoLab. This project has been thoroughly vetted by senior administration and approved pending positive review by a Special Task Force Committee, the Finance Committee, the Facilities Committee, and an affirmative vote of the Board of Trustees, which was attained at its December 2013 meeting. Following those reviews, the project will proceed with an estimated total cost of $10 million.

In order to make room for the new residence halls and associated parking spaces, the university will raze Alverna House (a faith centered living and learning community for undergraduate students) and the East Convent. Residents of Alverna House will be relocated to an area of Clare Hall, and current Alverna House residents are consulting with Residence Life staff regarding the renovations. The three Sisters who currently occupy the East Convent will move to a university-owned house adjacent to campus. Three other Sisters are already living in a university-owned house in the same neighborhood.

"With only three Sisters living in the 16-bedroom house, it made perfect sense to sell the Sisters' Residence to the university," Sr. Maureen Irvin said. "The Sisters are so proud of Marian University's growth, and the role they’ve all played in it. Everyone realizes that the construction of graduate student housing is the next step in our growth process."

Construction of the new apartment building is expected to begin in June 2014. For more information about the project, please plan to attend the State of the University address, scheduled for 3:30 p.m., Thursday, February 20 in the Marian University Theatre.

Source: Marian University