I honestly like Pheasant Run. I live in one of the one bedrooms on the old side and while it is tiny (565 sq ft), the rent is very cheap and the heat is free. There is a discount for Purdue students and I also got a re-signing discount when I renewed my lease, in addition to a free month's rent.
Not only have they not raised my rent in the time I've been here, but they lowered it $10/month this year. The cable is mediocre (you can't get city cable, just Pheasant Run's), but you can sign up for high speed Internet access now.
Pheasant Run's location is pretty nice. It's about 15 min from Purdue and I was quite frankly pleased to get away from the loud slums that are called on-campus apartments. The walls here are paper-thin, but I haven't really had much trouble with loud neighbors. It's also less than 5 min from the mall and various discount and grocery stores, which is nice.
Pheasant Run is the most pet-friendly complex I've encountered. For a one-time pet fee ($300 when I moved in), I've had a dog here for 3 years. There's no monthly pet fee. They have an 80# limit and dont allow so-called "aggressive" breeds, but other than that, are pretty nice about it. (They also seem unable to identify a pitbull on sight...a very nice one lives a few buildings down.) There's a fenced-in area where you can let your dog run around and they have special pet-owner parties once or twice per year. NO ONE cleans up after their dogs, despite the complex claiming to fine people, so be VERY careful walking around. That's actually my biggest gripe about the place.
Overall, this is a pretty nice place to live, but if you want to live in a sparkling-new building, check out the new side. Lafayette's apartment market is more than saturated right now and lots of the apartments are sitting empty, so make sure to ask about rent specials. I've never been treated anything but courteously by the office staff. Libby, the resident manager knows me by name and asks about my boyfriend and dog every time she sees me. One of my friends got socked with some hefty bills for carpet and things like that when they moved out, but I know of several other people who got out with no problem, so I'm going to steam clean mine and hope for the best. Good luck apartment hunting!

Addendum: After moving out, we were only charged for repainting our bedroom, which I thought was fair. Compared with where we are currently living (Cross Creek in Indianapolis), Pheasant Run was heavenly! Our current complex did a great job of bait-and-switch...looking really nice and fixing things promptly right when we moved in, then just eating our rent check. It's definitely a step down from Pheasant Run. I especially miss the free heat! We moved to Indy and everywhere with free gas heat here was a ghetto. Also, we miss the 24 hours maintenance policy, after having a non-working dishwasher for a month!

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