The developer is preparing an $18 million project at the Hulman Building
By Jay Young
CITY-COUNTY OBSERVER
SEPTEMBER 12,2024
A developer is preparing an $18 million project at the Hulman Building that will transform the structure into a mixed-use property.
The Evansville Regional Economic Partnership is asking the state to provide $4 million from the Lilly Endowment Grant for the project. The developer told E-REP his company has the property under contract and expects to start and complete construction in 2025. The 10-story building is located at Fourth and Sycamore streets in Downtown.
Texas-based Global Integrity Investments has the property under contract, company president Toby Potter said Wednesday. His company is nearing completion of a residential rehabilitation project at the nearby former Market Street Living building at Court and Third Streets.
The Southwest Indiana Regional Development Authority agreed Wednesday to forward the Hulman request and others to the Indiana Economic Development Corporation for final consideration. The authority is a public agency that hires E-REP, a private corporation, to conduct its business.
The authority also approved these projects for Lilly Endowment funding consideration:
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Franklin Street Lofts – $1.3 million
Franklin St. Lofts LLC., managed by John E. Clark of Newburgh, is planning a $13 million project at the corner of West Franklin Street and North Seventh Avenue to transform a vacant structure into 58 multi-family, market-rate units. It will include commercial space for a restaurant or retail. The investor told E-REP construction will start on Jan. 1 and conclude in 2026.
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Fieldhouse Flats – $4.9 million
An entity controlled by Jonathan R. Anderson of Franklin, AP Development LLC, plans a $24 million housing development at the former YMCA site between Vine and Court Streets. The rehabilitation of the former Central High and YMCA Fieldhouse will create 38 market-rate apartments. The construction of a neighboring building will have 40 market-rate apartments. The connected Central Lofts by the same developer created 61 market-rate apartments in 2020-21. The year-long project is expected to start June 1.
The authority approved these projects for consideration as recommended by E-REP for state money through the READI 2.0 program.
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The Hub 127 – $122,000
The Gibson County Economic Development Corp. plans a $610,000 renovation on the second floor of the second floor of this co-working pace at 127 N. Hart St. in Princeton.
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The District Phase 2: $3 million
