Evansville luxury housing project kicks off construction
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Carmel-based CRG Residential and city of Evansville leaders have broken ground on a $45 million residential development. The project, called Promenade Flats, will feature 220 luxury apartments with amenities like a dog park, heated saltwater resort pool and private garages.
The new housing encourages a walkable environment with the YMCA, Fresh Thyme and other restaurants and retail nearby, officials said.
“This project is more than a building,” Evansville Mayor Lloyd Winnecke said in a news release. “It symbolizes Evansville’s progress and our commitment to enhance the quality of life.”
Construction is ongoing, and the first units will be available for move-in in summer 2024. The project will be totally completed in 2025.
The project will be the ninth luxury development CRG Residential has developed in the state, including the upscale, downtown Evansville mixed-use project the Post House.
“With our community vision called Talent EVV as our guidepost, we are building a nationally recognized place to call home, and projects like the Promenade Flats are making our vision a reality,” said Tara Barney, CEO of the Evansville Regional Economic Partnership. “We are thrilled to continue the partnership with CRG Residential that brought us the Post House and create new vibrancy for our community.”
First Financial Bank financed the project. The state’s Regional Economic Acceleration and Development Initiative, or READI, also contributed $2.5 million toward its completion.