Southwest Indiana unveils $72M mixed-use development as first READI 2.0 project
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The Evansville Regional Economic Partnership and Southwest Indiana Regional Development Authority detailed plans Tuesday for the region’s first project supported by READI 2.0 grant funding.
Known as The Dominion, the $71.5 million project in Warrick County will feature 150 market-rate apartments, a five-story commercial building with restaurant and retail space, and an outdoor public plaza in its first phase.
Officials say the project will build upon previously announced developments that are fueling growth in the area just east of Evansville.
“The Dominion builds on the momentum started with Ohio Township Park, a READI 1.0 project, and the investment Warrick County has made in the Wellness Trail,” RDA President Beth McFadin Higgins said in a news release. “This development will connect new residents to employment opportunities, recreational amenities, shopping, and dining.”
The Dominion project is receiving $5 million from the second iteration of the state’s Regional Economic Acceleration and Development Initiative, or READI. Nearly $8.5 million in TIF funding is being provided by the county, with the remainder coming from private developer investment.
The project will be located at the intersection of State Road 66 and Grimm Road in Ohio Township. The RDA said architectural and engineering work will begin this fall, with construction of the first phase slated to begin in September 2025 and be complete by the summer of 2027.
A second phase of the project is expected to include additional residential units, a hotel, and more restaurant and retail spaces. Specific details and a timeline for construction were not provided.
The southwest Indiana region was one of six to receive a $45 million allocation from the READI 2.0 program, and has received $95 million in total READI funding.
“In southwest Indiana, READI is creating new, centrally located community destinations that add modern opportunities to live, work study play and stay,” Gov. Eric Holcomb said in the release. “I’m confident the impacts of The Dominion and of READI 1.0 and 2.0 will create lasting positive changes in Warrick County, making southwest Indiana a premier high quality of place for business, talent and families to grow for generations to come.”
The Dominion is the latest in a series of projects in the works in Ohio Township. Earlier this month, officials broke ground on the $15 million Ohio Township Park project about one mile east of the I-69 and State Road 66 interchange.
A sports complex and family entertainment center is also being proposed for 72 acres of land near the intersection of Epworth Road and Vann Road, not far from the park’s location.
We’ll have more on The Dominion project in Wednesday’s INside Edge Morning Briefing newsletter.