Project owners Aaron Gabe and John Clark, Evansville Mayor Stephanie Terry and local officials will join with community and economic development leaders to celebrate the groundbreaking of Franklin Street Lofts. This will mark the start of construction for the first project in the Evansville Region to be funded in part by the Lilly Endowment Initiative managed by the Indiana Economic Development Corporation.
Franklin Street Lofts
The project is a $13 million adaptive reuse of the historic Hercules Plow factory on Franklin Street. The project will create 56 market-rate apartments on Franklin, along the Pigeon Creek Greenway Passage. This project preserves a historic landmark, delivers modern housing with direct Greenway access and strengthens Evansville’s broader placemaking vision.
Date:
Tuesday, October 7, 2025
Time:
10:00 CDT
Location:
Franklin Street at Seventh Avenue, Evansville, Indiana 47710
- Parking available behind Heritage Petroleum, 306 N 7th Ave, Evansville, IN 47710
- Ceremony will be held on the Franklin Street side of the building
About the Lilly Endowment Initiative Funds:
Lilly Endowment Inc. awarded $250 million to Indiana’s READI 2.0 program, managed by the Indiana Economic Development Corporation. The funds support housing, redevelopment, and a new statewide arts and culture initiative to enhance quality of life and growth across the state.
About the Evansville Regional Economic Partnership:
The Evansville Regional Economic Partnership (E-REP) cultivates a thriving and growing talent-rich Evansville Region through advocacy and collaboration between our communities, businesses, and civic leaders. Our vision is to transform the Evansville Region – through thought and action – into a growing and healthy population with high-quality jobs filled by a skilled workforce who enjoy an unparalleled quality of place.
