The centerpiece of a grand plan moves foward in hopes of injecting new life at Haynie's Corner near Downtown A new injection of life. By using $150,000 in public money, the City of Evansville was able to leverage $1 million in private investment to renovate two historic buildings.
The City of Evansville has announced that Architectural Renovators Inc., owned by local developer Michael Martin, will invest $1 million in private funds to help renovate two historic apartment buildings located in the Haynie's Corner Arts District. Using $100,000 in federally-funded Community Development Block Grant funding and $50,000 in Brownfields Corp. funding, the City was able to lure in the private investment, officials said.
"Historic restoration doesn't happen all at once," said Dennis Au, the city's historic preservation officer. "It happens one building at a time and, occasionally, two. Thats what we have here."
The buildings that will be renovated are the Maybelle and Montrose Apartments located at 1012 SE Second St., approximately a half-mile from the Ford Center and future site of the IU Medical School. A former drug store located at 1022 SE Second St. will also be demolished to make way for more commercial and residential space. A recent market survey found parking to be the most desired improvement to the area, said Kelley Coures, the executive director for the Department of Metropolitan Development.
"We're using property that we already own to develop 50 spaces," Coures said. "That was the catalyst that started the ball rolling on everything else. We like to think of it as a trickle up. All of this will be within walking distance of the IU Medical School expansion. We're anticipating more development coming from that. The neighborhood, they're excited. The people living there are excited. That's what it's all about: neighborhood revitalization."
The City has also put up for sale a number of residential properties within the historic district. The future homeowners will need to submit their plans before the Design Review Board in order to keep and maintain the area's historic look and feel, Coures said.
"It's a wonderful moment for the neighborhood, both for the Riverside Neighborhood as well as the Haynie's Corner neighborhood," Au said. "It will mend the two together because we share much in common."
The renovations are expected to be complete by Summer 2015.