Developers present Old Farm Reserve plan; council approves bond ordinance first reading
Developers outlined a phased University Parkway project on 110 acres with ~240 apartment units planned in phase one; council approved the ordinance authorizing TIF-backed economic development bonds on first reading, 7–0, with second reading set for Sept. 2.
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Attorneys and consultants representing the Old Farm Reserve / University Parkway project presented a financing and development plan at the Aug. 12 Vanderburgh County Council meeting. Brad Bingham of Barnes & Thornburg introduced the financing team and municipal advisor; developer Chip Alstatt described a 110-acre site plan with about 70 acres for single‑family, roughly 10 acres for multifamily (240 units across seven buildings) and 30 acres for commercial uses. The presentation included a phase‑1 focus on the 240-unit apartment component and planned amenities.
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