Evansville's Rathbone to be Reborn

Posted: Updated:
Evansville's Rathbone home to be renovated into multiuse facility (photo courtesy of Historic Evansville) Evansville's Rathbone home to be renovated into multiuse facility (photo courtesy of Historic Evansville)
EVANSVILLE -

Evansville city leaders have announced plans to renovate the historic Rathbone building into a mixed-use development. The property closed a year ago after operating as an assisted living facility since 1906.

The property was originally founded by Kate and Caroline Rathbone as a home for elderly women in 1905, after being built in 1896, and officially became the Rathbone Retirement Community in 1988. The renovation includes 58 modernized apartments, banquet space and a rooftop lounge. 

“This is more evidence that people feel the city is going in the right direction by constructing new housing in our center city area,” Evansville Mayor Lloyd Winnecke said. “The Rathbone project is a welcomed addition to the continued revitalization of the neighborhood just south of the Haynie’s Corner Arts District.”

Louisville investors, Rathbone LP, will invest $3 million for renovation of studio, one and two bedroom apartments, a banquet facility and the rooftop entertainment area. Phase one includes modernization of the apartment units, with phase two being the rooftop lounge. The third phase will transform the attic area into the banquet space. The work is expected to take two years to complete, with the apartments expected to be done by December of this year. 

Growth Alliance for Greater Evansville recommended a four-year tax phase-in to the Evansville City Council for Rathbone LP's investment. 

  • Perspectives

    • Indiana's Regrettable Struggle to Pass Hate Crime Legislation

      It shouldn’t be this hard. The Senate’s Public Policy Committee voted 9-1 in favor of SB-12 this week, a bill that would have codified (as written) hate crime bias to include protections for race, religion, color, sex, gender identity, disability, national origin, ancestry, sexual orientation, and age. SB-12 then made its way to the full Senate. Preceded by a lengthy deliberation by the Senate’s Republican caucus, the Senate voted 33-16 in favor of a watered-down...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Chamber Unveils 'Best Places to Work'

      The Indiana Chamber of Commerce has released its list of the Best Places to Work in Indiana. This year's list features 125 companies throughout the state, including more than 40 that were not on the list last year. The chamber will unveil company rankings April 30 at an awards dinner at the Indiana Convention Center in downtown Indianapolis. Winners are sorted into four categories based on size. Out-of-state parent companies must have at least 15 full-time employees in Indiana to...

    • Public, Private Investment Driving Speedway Growth

      Speedway leaders say the town is full speed ahead with millions of dollars in public and private projects that will help change the landscape of the Marion County community. At the heart of them all, says Town Manager Jacob Blasdel, is the new Town Hall in an old PNC Bank building that will house all of Speedway's town offices. Also in the works are a recently-announced $8 million mixed-use proposal on Main Street from Rebar Development, the soon-to-open $36 million Wilshaw...

    • Indiana Rural School Clinic Network Expands to Pekin

      East Washington School Corp. has announced that East Washington Elementary School is now a participant in the Indiana Rural School Clinic Network. Supported by Ascension/St. Vincent Salem, the school now has a telehealth clinic available to its students and staff. 

    • The bill now moves to the Senate Appropriations Committee.

      Soccer Stadium Funding Added to CIB Bill

      The Indiana Senate Appropriations Committee has approved a bill that includes funding for a new soccer stadium in Indianapolis, however the stadium may not necessarily become home to the Indy Eleven. Our partners at WIBC report the bill authorizes financing for a stadium to host a Major League Soccer team; the Indy Eleven play in the United Soccer League. The bill also fund the expansion of the Indiana Convention Center and two hotels in downtown Indy, as well as extend the...

    • Kite FFO Dips, Plans to Sell Off Properties

      Indianapolis-based Kite Realty Group Trust (NYSE: KRG) is reporting full-year Funds from Operations of $167 million in 2018, down from $171 million the previous year. The company has also announced plans to offload up to $500 million in assets in an effort to reduce its debt.