The Southwest Indiana Regional Development Authority has awarded $11.5 million in grants from the Regional Economic Acceleration Development Initiative, or READI. The RDA says to date, it has allocated more than 70% of the $50 million it received from the state last December.
“Focused on population growth, our region continues to make impactful investments that are intentional in building our health and life science clusters, providing much-needed housing, and enhancing the overall quality of life for residents,” Tara Barney, CEO of the Evansville Regional Economic Partnership, said in a news release.
Five projects throughout the region are the recipients of the latest round of funding. They include:
Medical Student Housing – Vanderburgh County, $5 million
The project is the next step in the development of the Evansville Region’s Medical Campus. The proposed 108,000-quare-foot building will consist of 105, 1- and 2-bedroom apartment units and 184 structured parking spaces.
Promenade Flats – Vanderburgh County, $2.5 million
The Promenade on Evansville’s east side is mixed-use development area, and the READI project will allow for housing to be added. CRG Residential is proposing a 220-unit apartment complex near employers like Deaconess Gateway and Shoe Carnival headquarters.
The Mary O’Daniel Stone and Bill Stone Center for Child and Adolescent Psychiatry – Vanderburgh County, $2 million
The project establishes a $2 million seed fund at Indiana University School of Medicine‐Evansville to support the recruitment and retention of a highly trained workforce over the next five years. It includes the creation of a first‐of‐its‐kind national data analytics platform for examining the current practice of psychiatry across the US.
CenterPoint Energy Square – Vanderburgh County, $1 million
CenterPoint Energy Square will sit at the very center of downtown Evansville and will serve as a gathering place open to all. CenterPoint Energy announced a $1 million grant for this park in 2021.
Mt. Vernon Riverfront Land Acquisition – Posey County, $1 million
The CenterPoint Energy office on the riverfront in Downtown Mount Vernon is being vacated in 2024, and this project will use READI dollars to gain site control in 2024 and prepare the land for future housing.
The southwest Indiana region was one of five to receive the full $50 million allocation of funding from the $500 million READI program a year ago.
The RDA says it is accepting proposals for additional READI projects through Dec. 31. You can learn more about the region’s READI program by clicking here.