$500,000 building gift provides IU East with east-side facility

$500,000 building gift provides IU East with east-side facility

Richmond businessman Kirit Patel has donated a building to Indiana University East. The 9,040-square-foot office building is located on Richmond’s east side at 423 and 425 Commerce Road.  The gift of property has an appraised value of $498,800.

Chancellor Nasser Paydar said that the building provides IU East with additional opportunities and options for extending its reach into the community.

“We plan to use the building, but not as classroom space,” he said. “One of the four major priorities in our campus strategic plan is excellence in civic engagement.  IU East is positioned to play a strategic role in advancing the region, not only educationally, but also in terms of community involvement. We’re exploring options to create more community partnerships as a result of this remarkable gift.”

Patel said it is important to give back to the community.

“Richmond has played an important part in my life and that of my family. This is the community in which my kids were nourished and raised into being good citizens of this country, which my family is proud of,” Patel said. “Thus, this building is just a token of gratitude toward education and to this city which has helped my kids and me succeed in our lives. Thank you, Indiana University East, and thank you, Richmond!”

With its new mission as a bachelor’s and master’s institution, IU East has repeatedly experienced record-setting enrollment. Student enrollment (3,365) increased 15 percent this fall semester. Since 2006, IU East enrollment has increased dramatically with a 50 percent increase in number of students and a 54 percent increase in credit hours.

“IU East was founded by community leaders in eastern Indiana,” said Paydar.  “Mr. Patel has continued that legacy of visionary community leaders stepping forward in a significant way to enhance education and enhance our community.  We are grateful for his incredible generosity.”

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