Collaboration Focused on ‘DePauw-Greencastle Corridor’ – Inside INdiana Business

Financial Planners

(Photo credit: DePauw University)

The City of Greencastle and DePauw University will use a $250,000 planning grant from Indianapolis-based Lilly Endowment Inc.’s College and Community Collaboration Initiative to revitalize the corridor between the university and the city’s downtown making plans.

The effort builds on the stellar community designation Greencastle received in 2011 and focuses on four key areas: housing, education, recreational opportunities and aesthetics, partners said Wednesday. rice field.

Andrea Young, DePauw’s vice president of finance and administration, said:

Young, who moved to Greencastle last summer, told Inside INdiana Business that housing is the main focus of the collaboration.

“We have a recent housing study and an ongoing housing analysis, and there is indeed a dramatic shortage of housing,” Young said. “This summer we purchased a quirky multi-bathroom home in Greencastle.Therefore, there is a severe housing shortage impacting our ability to recruit employees.It affects local businesses. and affect the town’s economy for obvious reasons.”

Greencastle, along with North Vernon, was one of the first two areas designated as a Sutera community in 2011. The designation provided $15 million in funding to allow the city to revitalize Courthouse Square and downtown to support new business growth and community initiatives.

Dionne Jackson, DePauw’s vice president of institutional equity, said the new collaboration will further these efforts.

“One of the things that the mayor and others have mentioned is that the housing initiative is part of [Stellar] It’s an initiative they haven’t been able to reach, and it’s something they really want us to be able to think through and address,” Jackson said.

Young said other focus areas stem from DePauw’s “Bold & Gold 2027” strategic plan announced in March 2022.

“[There’s] We need strong educational offerings, including recreation, strong community offerings,” Young said. “And I think there is a shared sense that there is real aesthetic value in thinking about what Greencastle looks like. Based on .Lily allows suggestions.

Young added the history of the Stellar designation, which provided a template for how partners could achieve their goals.

“We have an aspect of housing that we want to address,” she said. “There are other places that we now call the DePauw-Greencastle Corridor that she has already identified that are between the two places, and we already know what the shared value will be. And we’ve crossed many of those hurdles.”

Jackson said partners need to work on plans by the end of winter. A master planning process is conducted that engages a team of architects, urban planners, and financial advisors to identify sites that are most likely to meet the goals of the collaboration.

Young said that once a vision is set, partners will apply for Phase 2 funding from the foundation’s university-community collaboration initiative. That funding, which could be up to $25 million, represents his 30% of the effort, and partners will need to find capital to cover his remaining 70%.

“A lot of work on the grant will be done in the evaluation process over the next four to five months,” said Young.

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