MUNCIE, Ind. — The $190 million investment in Ball State University’s Village Revitalization project could bring thousands of people and millions with spending to the community.

The mix of public and private spending for the new Catino Hotel and Ball State University Performing Arts Center, and an apartment building with a Barnes & Noble bookstore across the street, are just some of the new looks. Trademark Homes is building townhouses and homes south of the Promenade while BSU is building a new innovation connector on the other side of the village that will house the local Black Chamber of Commerce and the area Small Business Administration.

More than 100 people came Wednesday to Cornerstone Center for the Arts to hear an update of the development announced last year.

BSU President Geoffrey Mearns spent an hour talking about the goals and impact of the massive spending. At least $32-$40 million in new assessed value could be created by the housing and commercial development, he said, besides $11-$15 million in new spending yearly with the hotel, performing arts center and housing. The goals include building a vibrant and dynamic environment, creating a physical connection between the campus and community, attracting and retaining students and employees by providing better housing and business besides strengthening the local economy.

 BSU contributed over $100 million in philanthropic and direct investment besides what developers offer. There are federal tax credits tied to housing and Muncie Hotel Partners, representing Indianapolis hotel operator Greg Schalet, who are seeking property tax abatements.

Given the millions of dollars in construction, Mearns acknowledged there was no guarantee that union labor would be utilized.

Fairmount Properties will oversee development of a new apartment building at University and McKinley that is still being designed.

BSU plans to demolish the old Merchants Bank building at University and Calvert for an open event space.

Construction is underway for the new innovation connector that will house digital media and business entrepreneu programs besides the community groups.

Mearns also used the update to promote We Fly Fest at Brown Amphitheater from 5-8 pm on June 7th. The gathering includes food, music, and information about upcoming university programs