EVANSVILLE, Ind (WEHT) Plans are in place to tear down the 18-story 420 Main building and replace it with a 6-story ‘architecturally significant mixed-use building which will provide underground parking, indoor and outdoor dining, office and residential space.’
The Sycamore building would also be torn down to build a 4-story mixed-use building which will
bring a food hall, commercial/office space, and additional residential units. There are also plans for a renovated city-park.
“While one iconic building is coming down, two very distinct, iconic buildings will go up in its place that will create lasting memories and lasting commerce for our community for many years,” said Evansville Mayor Lloyd Winnecke.
When complete, development of this block is expected to cost $67 million. On Tuesday, a group of partners submitted applications for $18.4 million in Indiana Redevelopment Tax Credits. Domo Development is still working with community leaders to finalize financing.
Between 30,000 feet of office space and 30,000 square-feet of retail and restaurants on the first floor. Officials say it will bring so much activity to the center of downtown.
“It will be an active first floor with restaurants and a food hall and the second floor will be office space and the remainder of the floors on both projects will be apartments; 128 between both buildings,” said Executive Director at Downtown Evansville Development Corporation in Evansville.
If the application for Redevelopment Tax Credits is approved and financing is finalized in the coming months, demolition is expected to begin by the end of the first quarter of 2021, with construction following in August, and a fully redeveloped block on Main Street completed by early 2023.
Plans to tear down the 420 Main building were unveiled in November after an evaluation revealed that the mechanical, electrical & plumbing (MEP) was not sufficient for reuse.
(This story was originally published on December 22, 2020)