Mayor Winnecke, Community Partners Host Central Lofts Ribbon Cutting Ceremony

(April 12, 2022) — Mayor Lloyd Winnecke, Jon Anderson, President of AP Development LLC and Alan Rakowski, Director of Real Estate Allocation for the Indiana Housing and Community Development Authority, cut the ribbon for the Grand Opening of Central Lofts, a 62 unit affordable housing development in the former YMCA building at 203 NW 5th St.

The historic YMCA building originally opened in 1914, and many of its original features were retained and reimagined through the rehabilitation of the building. 

Federal Historic Tax Credits were used to preserve the historic character and charm of the building, while $11.5 million in Rental Housing Tax Credits from the Indiana Housing and Community Development Authority ensure its long-term affordability. The City of Evansville was a major financial partner as well by providing project based TIF funds. 

Central Lofts is part of a larger visions to redevelop the former YMCA site, which included the constriction of the new downtown YMCA in 2019.

“The Grand Opening of Central Lofts demonstrates the commitment of the city and its partners to affordable housing and the preservation and redevelopment of Downtown Evansville,” said Mayor Winnecke. “Through public private partnerships with AP Development and others, great things are happening for the City of Evansville and its residents.” 

Jon Anderson concurred saying, “It took a strong team of partners to create affordable housing while preserving one of Evansville’s landmark historic buildings. At AP Development, we are proud to continue our mission of preserving historic properties and providing affordable housing to working families.”

Johnathan Pope, Executive Director of the Evansville/Vanderburgh County YMCA was excited to add that, “The YMCA was grateful to find a developer like AP Development who could financially structure a project that historically preserves the former YMCA and provides beautiful new affordable housing units.” 

AP Development (APDevelopmentLLC.com) is a strategic real estate development firm focusing on redeveloping historic structures and underutilized or blighted properties, working through the Midwest to transform communities through creatively structuring federal, state and local incentives in a shared vision. 

For information about leasing an apartment at Central Lofts, please contact CentralLofts@ThinkCrestline.com.