Vigo County-based Hanning Construction will be handling the $50 million overhaul of Indiana State University’s (ISU) Hulman Center in Terre Haute.
Project funding will come from a combination of $37.5 million from the state and $12.5 million from gifts to ISU, university cash reserves and borrowing.
In addition to construction costs, the full scope of the funding also includes what the university calls “soft costs” like design. Hanning’s base bid, the lowest of three submitted, includes selected alternatives and comes in at $42.8 million. The bidding process had to be restarted after last year’s lowest bid came in $5 million higher than university estimates, reports Inside Indiana Business.
The Hulman Center was built in 1973 and covers about 174,000 square-feet on the edge of ISU’s campus. During construction, ISU says limited activities like men’s and women’s basketball games will continue to be hosted at the venue during construction.