INDIANAPOLIS – Ivy Tech Community College has completed the purchase of the land that the new Elkhart campus will call home at the start of the 2010 spring term. It is located on County Road 18 near County Road 17.
The Community College has also announced that it will be using build-to-suit construction with a purchase agreement for the 70,000 square foot Elkhart facility. Build-to-suit brings together the best in private sector ideas and allows the developer to be creative and maximize efficiencies. A build-to-suit option also allows Ivy Tech to delay debt services until completion of the building which will allow the college to save money in capital interest and/or future interest payments. The build-to-suit option also fosters collaboration and ensures a quicker completion. This is an innovative approach to higher education as the college looks to bring continued efficiencies to its facility development efforts. The College purchases the building at the time of completion if it is judged to meet the RFP requirements.
At same time the Community College will use a traditional architect and construction management model to build its new Sellersburg facility. At completion of both projects Ivy Tech will compare both methods to determine which model proves to be the most effective.
About Ivy Tech Community College
Ivy Tech is the state’s largest public post-secondary institution and one of the nation’s largest singly-accredited statewide community college systems with more than 120,000 students enrolled annually. Ivy Tech has campuses throughout Indiana. It serves as the state’s engine of workforce development, offering affordable degree programs and training that are aligned with the needs of its community along with courses and programs that transfer to other colleges and universities in Indiana. It is accredited by the Higher Learning Commission and a member of the North Central Association.