Gilbane, Purdue Fort Wayne Cut Ribbon on 601-Bed Trace Student Housing on North Campus

Gilbane, Purdue Fort Wayne Host Ribbon Cutting for 600-Bed Student Housing Complex
CRE Market Beat Take
The Trace project underscores how universities are leveraging public-private joint-venture structures to add on-campus beds without disclosing direct capital outlays. For investors, professionally managed, institution-affiliated housing like this can offer stable demand profiles tied to long-term enrollment rather than short-term leasing cycles.

Gilbane and Purdue University Fort Wayne have marked the official opening of Trace, a new student housing community on Purdue Fort Wayne’s North Campus, with a ribbon-cutting ceremony. The project was delivered through a public-private partnership between the university and the private development team, adding a significant new residential option adjacent to the academic core.

Trace is located at 5104 Meeks Drive near Ginsberg Hall on the North Campus. The four-story apartment complex totals 213,000 square feet and is configured to provide 601 beds across 176 residential units. Floor plans range from studio apartments to four-bedroom layouts, giving students multiple options for living arrangements within the same community.

According to the project team, nearly half of the beds at Trace are reserved for students who contract directly through Purdue University Fort Wayne. The balance of the housing inventory will be available to students enrolled at other colleges and universities, who will lease directly from the complex. This structure creates a mix of university-affiliated and non-university-contracted residents within the same building.

Geoff Eisenacher, Executive Development Director at Gilbane Development, described the project as the outcome of a closely aligned effort between the university and the development team. He noted that Trace demonstrates how a private developer and an academic institution can work toward a shared goal of expanding on-campus housing while supporting the broader growth of the campus environment.

Gilbane serves as both the developer and construction manager for Trace, overseeing the delivery of the new housing complex from concept through completion. AVB is the design-builder on the project, providing integrated design and construction services, while Progressive AE is credited as the architect responsible for the property’s design.

Ownership of the complex rests with Strategic Facility Partners, which holds the asset following completion of development. Day-to-day operations at Trace will be handled by Inwood Management, which has been engaged to operate the property. Together, these parties comprise the core team responsible for bringing the project from planning to ribbon-cutting and now into ongoing management.

The opening of Trace adds substantial new purpose-built student housing capacity on Purdue Fort Wayne’s North Campus, with a structure that blends university-contracted beds and privately leased units under a single, institutionally owned and professionally managed platform.

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