After seven months of being open, the Village Promenade is raising its rent prices for the next school year while the complex works to finish up amenities for residents.
Anna Kelsey, the Village Promenade’s general manager, said the company originally set rent low to gauge local interest.
“We started out lower than it usually would be [to] look at the market in Muncie,” Kelsey said. “We let the market decide for itself.”
For current residents or residents who already have leases prepared for next year, the prices are locked into the figure they signed with.
Kelsey said the prices would vary depending on when a resident signs a lease and what unit they request.
“It’s not a dramatic increase. Anywhere you go, the market fluctuates,” she said.
Darcy Gunn, a freshman communication studies major, plans on living in the Village Promenade in August. She said the signing process was rushed.
“I had to sign up and figure it out really quickly and it happened so quickly,” she said. “We did it right then. I didn’t like that.”
Gunn said the employees warned her and her roommates if she didn’t sign up now, the prices would rise.
Clara Wieczorek, a freshman art major, also said they pressured her group.
Gunn and Wieczorek plan on paying monthly and were unsure of the rent for each month, but said it would be a total of $4,000 for both Fall and Spring semesters of next year.
They both wanted to live as close as possible while still living off campus.
While construction finished quickly, some of the promised amenities have yet to be fulfilled.
Kelsey said the rooftops for both the East and West buildings are currently closed, but hopes to open them over a weekend once it warms up.
For the East building, Kelsey said the complex will eventually have a movie theater screen, cornhole and other activities. For the West building, the Promenade is planning on a sunroof, lounge chairs, hammocks and tanning spaces.
Gunn said she didn’t mind being without some things as long as they weren't huge.
“I think it will be worth it,” Gunn said.
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