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Monday, February 26, 2024

What in the Hole is Going On?

Yet another developer takes on Fifth & Main

The corner of Fifth and Main Streets, once home to the soaring Old National Bank Tower, has sat vacant since the building’s implosion on Nov. 21, 2021. Now, a new company is taking over plans to bring life to the empty lot.

Mayor Lloyd Winnecke’s office released a long-awaited update on July 25 about the space. CRG Residential, a Carmel-based construction and real estate investment firm, will advance the mixed-use project, taking over from Domo Development LLC.

“We intend to move forward quickly to identify and propose a development that will instill pride in the Evansville community,” CRG President Christopher Reid said in the July announcement.

CRG Residential, which also developed Downtown’s mixed-use apartment community Post House, which opened in 2020, is 100% leased on the residential side; the retail portions of the building are currently being reconstructed into 15 new ground-level units.

While residents have a right to be wary of yet another change in plans for this block of Downtown, Winnecke noted his confidence in the transition.

“The delay caused by inflation and supply chain constraints prompted a broader review of how best to proceed,” he said in the release. “We are appreciative of Domo’s contributions through phase I and pleased that CRG can partner with the city to complete this vital piece of our Downtown plan.”

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Jodi Keen
Jodi Keen
Jodi Keen is the managing editor of Evansville Living and Evansville Business magazines.

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