Indianapolis-based Pure Development says it has closed on the Lafayette land where the $100 million GE Aviation assembly plant will be built. The company says it has finalized all proceedings for the project, enabling construction to officially begin.
August 29, 2014
Indianapolis, Ind. — Pure Development, the Indiana-based developer for GE Aviation's new assembly plant in Lafayette, Indiana, has closed on the land and construction has begun on the 50-acre site that will house the new world-class facility.
Officials – including Indiana Gov. Mike Pence and U.S. Senators Dan Coats and Joe Donnelly – were on hand to celebrate the project’s start at a ceremonial groundbreaking event on July 21. Today, Pure Development finalized all proceedings in regards to the project, enabling construction to start on the state-of-the-art, $100 million facility at the intersection of US 52 and Veterans Memorial Parkway.
“It is an incredibly exciting day for our team to get everything finalized and clear the way for this project to start taking shape,” said Chris Seger, principal at Pure Development.
“Having performed large-scale projects as a partner with GE Aviation previously, we recognize the importance of this mission critical facility to everyone involved. It’s an honor to play a part in bringing this state-of-the-art project to fruition for GE Aviation and as an Indianapolis-headquartered development firm we are especially pleased these quality, high-paying jobs are coming to Indiana,” said Drew Sanders, principal at Pure Development.
The new facility will assemble GE Aviation’s high-efficiency LEAP engine for the biggest builders of aircraft in the world, including Boeing, Airbus and jet manufacturers in China. The facility will open in September 2015, and GE Aviation officials expect to employ up to 200 workers at the facility by 2020.
“Any time you have a project of this size, scope and complexity, your choice of developer is critically important to its overall success,” said Eric Matteson, Senior Manager/Pole Leader at GE Aviation. “Having worked with Chris, Drew and the entire Pure team on two previous projects, GE Aviation knows their tailored approach offers value and their delivery system is proven. We’re confident in their ability to guide this project, as they've already shown in securing competitive financing and overseeing the project’s development.”
This is the third project the Pure team has developed for GE Aviation over the past several years, joining two plants in Mississippi. Click here to learn more about the GE Aviation LEAP engine assembly facility
About Pure Development
Pure Development is a commercial real estate developer focusing on office, industrial and health care build-to-suit projects. The Pure team has developed more than 100 buildings across the country for a deep and broad range of credit-tenant clients. Headquartered in Indianapolis with additional offices in Atlanta, Pure provides comprehensive development services, including construction management and the securitization of capital. Learn more at puredevelopment.com.
Source: Pure Development