Work is underway in the Daviess County city of Washington to build a $14.5 million apartment complex, the first large-scale multi-unit building in years, according to economic development officials. Business and government leaders broke ground Wednesday on the Cypress Point housing project.
The two-phase project will bring 143 market-rate apartment units and amenities to the community that is attempting to attract and retain talent.
“These new apartments will serve as an excellent option for professionals, young families, and individuals of all ages looking for a place to grow,” said Bryant Niehoff, executive director of the Daviess County Economic Development Corp. “The Cypress Point project will create critical capacity for Washington to attract and retain talent, and step into jobs that are both available and being created in the community.”
Gibson County-based builder Simplified Developments LLC is overseeing the project. The project will include six apartment buildings with 24 units per building offering 1,000-1,200-square-foot apartments.
Niehoff says the Washington Redevelopment Commission and the city council approved the key elements of TIF-funded infrastructure support and a tax abatement.