By: Emily Kibling—
Muncie, IN – The Demolition Phase has successfully been completed on the former Indiana Steel & Wire property and the Kitselman Pure Energy Park (KPEP) has the green light to enter into the Construction Phase. The development is part of the larger Kitselman Gateway initiative, which also includes the State Highway 32 bridge replacement, the Kitselman Trailhead development and the redevelopment and installation of historic Bridge 85, or the Albany Bridge.
“The work done to this point has been laying the groundwork for a successful construction phase and we are excited for the site to begin its transformation,” said Mark Peters, owner of KPEP. “Once complete, we will have taken an unsightly, underutilized piece of land and created a mixed-use space that breathes new life into this corridor of Muncie.”
The Energy Park will include a five-megawatt solar power plant, community center with educational classrooms, headquarters building for DD Dannar and mid-sized hotel. There will also be public greenspace and electric charging stations, among other elements.
KPEP and its partners plan to invest over $60 million to rehabilitate the area. In June, KPEP was granted the largest Industrial Recovery Tax Credit (DINO credit) in the state to support the project’s future. These funds are available from the Indiana Economic Development Corporation (IEDC) as an incentive for companies to invest in former industrial facilities requiring significant rehabilitation or remodeling expenses.
The old Indiana Steel & Wire property first opened in the early 1900s. It was most recently owned by GK Technologies, a subsidiary of General Cable Corp., before being sold to KPEP in 2015.
About Kitselman Pure Energy Park, LLC
Kitselman Pure Energy Park (KPEP, LLC) is a real estate development on the site of the former Indiana Steel & Wire property on East Jackson Street in Muncie, Indiana. Its purpose is to transform a neglected brownfield into a new, inspiring area for residents and workers. In conjunction with the
Kitselman Gateway initiative that will provide new greenspace around the White River, KPEP hopes to provide quality of place improvements to the area by allowing light commercial manufacturing space with the ability for workers and residents to shop and live where they work. For more information, visit www.PureEnergyPark.com.