PR Mallory Campus
About this Project
2019
Date Closed: September
Total Project Cost
New Markets Tax Credit Investment
Indy CDE partially financed the rehabilitation of the PR Mallory Campus Indy East Promise Zone with a $17.5 million NMTC loan. The PR Mallory Campus, located in the Indy East Promise Zone, had been vacant for approximately 30 years before this redevelopment. The project would not have been financially feasible without the deployment of New Markets Tax Credits to fill a significant financing gap. In addition to NMTCs, the project was financed with Industrial Recovery Tax (DINO) awarded by the Indiana Economic Development Corporation, as well as Historic Preservation Tax Credits allocated by the National Park Service.
The rehabilitation included extensive work transforming the Administration and Bunker Building into usable spaces while retaining both facilities’ historic architecture. The project rehabilitated over 190,000 square feet of space. The repurposed Administration Building now houses two schools: the Purdue Polytechnic High School and the Paramount School of Excellence Middle School’s Englewood Campus. Purdue Polytechnic High School is one of three tuition-free STEM-focused charter schools in Indiana. The Paramount School of Excellence provides a unique, technology-centric approach to education for students in grades 5-8. Purdue Polytechnic High School is an IPS Innovation School, and both schools are chartered by the Indianapolis Mayor’s Office. These schools accommodate a combined 1000 students with an additional 200 teachers and support staff.
The “Bunker Building” currently houses Uplift Produce, a company that grows produce and emphasizes providing communities with sustainable and healthy foods.
The PR Mallory Campus received the Indy Chamber’s 2020 Monumental Award. Schmidt and Associates, the architecture firm that led the campus’s design efforts, won the award. Winners of this award contribute to excellence in architecture, engineering, interior design, landscape architecture, construction, real estate development, neighborhood revitalization, innovative reuse, and public art throughout the Indianapolis region.
In 2021, Indiana Landmarks awarded the PR Mallory Complex with one of their top prizes, the Cook Cup. Indiana Landmarks gives this award to organizations and projects that follow the highest standards of restoration in transforming a significant historic building, with a positive impact on the neighborhood or community.
Read More – Inside Indiana Business: Former Mallory Plant Receives Indiana Landmarks Award
“The PR Mallory Campus is a rehabilitated, formerly vacant brownfield that houses a middle school and STEM high school.”
