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Located between Vermont Street and New York Street, University Park was set aside in 1821 to be the site of the state university. This plan never developed, and over the years, it served a variety of other uses; housing a seminary, churches, and the city's first high school. Union troops used the land for drilling practices during the Civil War. In 1866 local residents began a fundraising effort to develop the land into a city park. Ten years later their dream became a reality.
The park is beautifully landscaped with trees, flower beds and decorated with statues. In the center of the park is the Depew Fountain. There are five levels to the fountain. The different tiers are decorated with bronze fish, children playing, frogs and a woman draped in a toga. A sculpture of President Benjamin Harrison (Indiana's only president) stands on the south center edge of the park with statues of Abraham Lincoln at the southeast corner and Schuyler Colfax (Vice President under Grant) in the east center portion of the park. Additional statuary includes Syrinx, the wood nymph on the east side of the fountain listening to the music that Pan, the satyr, is playing on the west side of the fountain.