Domo Development Co. LLC has acquired the 18-story, 149,000 square feet Old National Bank tower in downtown Evansville. The tallest building within 120 miles of Evansville is located at 5th and Main Street and will include ground-floor restaurants, as well as retail and office space, more than 60 apartments, four levels of indoor parking, and indoor-amenity spaces for tenants. Total redevelopment costs are expected to be between $25 and $30 million.
This development has spurred new heights for Evansville’s future. Evansville Mayor, Lloyd Winnecke says the development is “an enormous statement of confidence about the direction of Evansville. It’s exciting to add the 5th & Main tower to this extraordinary chapter of our city’s history…The investment into our city’s tallest building and the exciting vision of the developer will reinforce downtown as a destination for living, shopping, and dining.” In addition, Josh Armstrong, President of the Downtown Evansville Economic Improvement District says, “Retail follows rooftops…More residents mean more restaurants, more shops, more nightlife.”
Environmental Management Consultants was proud to contribute towards this development project and the future growth of downtown Evansville. Director, Mark Phillips, says “Working on real estate due diligence projects like the Old National Bank tower makes us feel great about helping facilitate redevelopment for the benefit of our community. Environmental Management Consultants is adjacent to the building, and we’re looking forward to the increased vitality this new development will bring to the downtown district.”
The redevelopment project is expected to be completed by the spring of 2021.
Do you have real estate transactions you need to complete before the end of the year? Contact us for our Phase I Environmental Site Assessment Report.
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