Urban Indiana

Evansville City Council approves millions for Fifth and Main project

Developers of the Fifth and Main project are focused on breaking ground before the end of the year, and the city is going to give them a financial boost.

The Evansville City Council approved two $12 million bonds to go toward the building of the mixed-use development and its underground parking garage, but only about $9.5 million will be the city's responsibility. The rest will be on the developer, CRG Residential, to handle.

City attorney Marco Delucio said the first bond will be a "developer purchase bond," which means CRG will use tax increment financing from the area to pay that bond.

More below:
https://www.courierpress.com/story/news/local/2023/06/13/evansville-city-council-approves-millions-for-fifth-and-main-project/70223490007/

5th&main project has been sent for approval, it appears they have downsized it again to 4 floors

Oh no! 

Quote from: NextDoorNeighbor on Feb 17, 2024, 01:23 PMOh no! 

It's been interesting down here, before they demolished 20 story building, it was planned to be redeveloped into apartments. Of course they demolished it and the original developers decided to dip after year. Another developer went to the project and downsized it to be 6-8 stories and then they left. CRG is now doing it this time around, if the building was elsewhere downtown people would be happy. On SkyscraperCity and some personal people I know, not a lot of them are happy about a 20-story building being replaced by a 4-story one. We really need to upgrade our skyline downtown...

Yeah, it's a shame as Evansville's tallest was still in decent condition before they demolished it.  I hope the best comes to the site!