$60M Project to Transform Development 'Restrictor'

Posted: Updated:
(Aerial rendering provided by Kitselman Pure Energy Park) (Aerial rendering provided by Kitselman Pure Energy Park)
MUNCIE -

After four years of preparation, demolition and remediation, the owner of Kitselman Pure Energy Park in Muncie says construction is underway. Plans for the $60 million project at the old Indiana Steel & Wire Co. property include a new headquarters for DD Dannar LLC, a South Carolina mobile power station company relocating to the property, as well as a five megawatt solar power plant, community center, hotel, retail and green space. Mark Peters calls the site "extremely challenging," but says its potential and the public/private cooperation the project has spurred in Delaware County have made efforts rewarding.

Peters says the previously-dilapidated site has been a long-time "restrictor" to development in the city's eastern corridor and the park will unlock a transformation of the area. "Right now if we bring a prospect out to assist or be a partner in the development -- if you've been by the site -- you realize, oh my goodness, nobody can really see the vision that we know and that we see. This will be a phenomenal increase in activity out there," Peters told Inside INdiana Business. "It's going to change the mindset, I believe, of everyone. That old, ugly site is no longer that old, ugly site, it's a beautiful development." He adds "it'll be great for Muncie."

The full scope of the live, work, play concept involves around 70 acres: 50 acres at the main site and an additional 40 adjacent lots acquired for projects like apartments that could get started as early as the end of the year. The city and its partners are investing around $9 million into the 18-acre Kitselman Kitselman Trailhead project, a new gateway on the east side that will tie into the Cardinal Greenway, connecting the White River Trail and Muncie Arts & Culture Trail.

"We hope that once our project gets going, it's going to give people confidence and bring them the sight, the vision to see east Muncie is not a bad place, it's a great place, and to allow development to move east," Peters said. "I think once people start seeing what the opportunities are, you'll see development go all the way to the beltway very quickly, probably within five-to-seven years."

KPEP purchased the property in 2015. Indiana Steel & Wire Co. opened on-site in the early 1900s. Its last owner was General Cable Corp. subsidiary GK Technologies.

Kitselman Pure Energy Park owner Mark Peters says the previously-dilapidated site has been a long-time "restrictor" to development in the city's eastern corridor and the park will unlock a transformation of the area.
  • Perspectives

    • Circling Back on WeWork

      Back in July when we first discussed WeWork, this fast-growing but money-losing venture was one of the most talked-about IPOs in years. At that time, we noted that it was too early to say what would happen, but “it should be very interesting to watch it all play out.” Turns out, that was a massive understatement!

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (IIB Photo/Alex Brown)

      India Wants to Partner with Indiana on Sports

      Indiana Secretary of Commerce Jim Schellinger says a recent trade trip to India included a rare meeting that produced some interesting results.  Schellinger and Governor Eric Holcomb were granted an audience with Indian Prime Minister Narendra Modi.  “We were taken aback at how well he knew Indiana,” said Schellinger. “He knew our (economic) background, our educational background, our history of sports statewide,” said Schellinger, who added...

    • (Image courtesy of Indiana State University)

      ISU 'Dreams' of Major Sports Facilities Improvement

      When Indiana State University developed a master plan for its campus, it didn’t include sports and athletic facilities. That’s about to change.  The university this week revealed a major plan for their sports facilities, according to a report from The Tribune Star of Terre Haute. 

    • Circling Back on WeWork

      Back in July when we first discussed WeWork, this fast-growing but money-losing venture was one of the most talked-about IPOs in years. At that time, we noted that it was too early to say what would happen, but “it should be very interesting to watch it all play out.” Turns out, that was a massive understatement!

    • (Image Courtesy: Purdue Agricultural Communication)

      Slow Harvest in Indiana, Mixed Yield Estimates

      As fall harvest rolls along across the Corn Belt, the U.S. Department of Agriculture has updated its predictions of the size of the nation’s corn and soybean crops. In Indiana, the data shows the state’s corn yield has improved, while soybeans dropped over the past month. 

    • Lauren Petersen and Johna Norton

      United Way Names New Board Members

      United Way of Central Indiana has elected Lauren Petersen (pictured) and Johna Norton (pictured) its newest board members. Petersen currently serves as TechPoint’s senior director of relationship management. She graduated summa cum laude from Ball State University in 2011 where she earned a bachelor’s degree in urban planning and development. Norton serves senior vice president, Global Quality for Eli Lilly and Co.