Evansville Housing Project Lands Incentives

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(photo courtesy city of Evansville) (photo courtesy city of Evansville)

The Indiana Housing and Community Development Authority has awarded more than $1.1 million in tax credits to a major housing project in downtown Evansville. The $13 million Central Lofts project is slated to break ground later this year and will add more affordable living units to the area.

Developers will renovate and transform the Shopbell YMCA building, which has been around for more than a century, into 64 income-based apartment units. The effort is part of the city's Promise Zone designation, which it earned in 2016.

"Not only is this development important in terms of much needed Affordable Housing in the city, but it is also a big win for Evansville’s Promise Zone which focuses part of its mission on creating quality housing for low income individuals," said Evansville Mayor Lloyd Winnecke. "It is also a win for the Downtown Master Plan which calls for new housing opportunities and increased residential population in the urban area."

The building will be purchased by Indianapolis-based developer Jon Anderson Inc. and will be managed by Crestline Communities. The city says the YMCA currently has its own new development in the works through the state's Regional Cities Initiative.

The Central Lofts project is expected to be complete in early 2020.

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