Governor Eric Holcomb joined local officials in Princeton on Wednesday to break ground on two Regional Economic Acceleration and Development Initiative (READI) projects. They include the $21 million Toyota Indiana YMCA and a $21 million workforce housing project.
The YMCA of Southwestern Indiana will be the operator of the Toyota Indiana YMCA, which got its name through a $1 million lead gift from Toyota Motor Manufacturing Inc.
According to the development plan created by the Southwest Indiana Regional Development Authority, the project is an adaptive reuse of the former Lowell Elementary School in downtown Princeton.
The new YMCA will include aquatic facilities, a health and wellness room, group exercise studios, a teaching kitchen, and a youth wing that will house activities for children and teens.
The branch, according to the RDA, will have the first indoor pool in the area and will support swim programs for local public school districts and Oakland City University.
“The Toyota Indiana YMCA in Gibson County will be more than an exercise facility,” said Johnathan Pope, president and CEO of the YMCA of Southwestern Indiana. “YMCAs often become community centers that connect people from all walks of life, and this community will benefit greatly from their new gathering space.”
The 56,000-square-foot facility is slated to open in the summer of 2024.
Additionally, ground will be broken on The District, a 144-unit apartment complex designed to offer affordable housing to support local employers.
The RDA says the project will target households making between 60% to 120% of the Area Median Income (AMI) in Gibson County.
“The District will provide a first of its kind development in Princeton,” said Wayne Kinney, developer of The District. “The plan is to transform 2nd Avenue into a destination for those wanting an up-and-coming environment to live and raise a family.”
The Southwest Indiana RDA was one of five regions to receive the maximum $50 million allocation from the $500 million READI program in December. Seventeen regions representing all 92 counties received some amount of funding.