Summary provided by Project: Working in partnership with the YMCA of Southwest Indiana, Inc. and Indiana Landmarks, AP Development LLC will transform NW 6th Street between Vine and Court streets through the adaptive reuse/renovation /rehabilitation of the historic former Central High School / SW Indiana YMCA Fieldhouse as approx. 38 market-rate apartments and the addition of approx. 40 market-rate apartments in a newly constructed building at the corner of NW 6th and Vine St. Historic Fieldhouse will be rehabilitated to National Park Standards with a new roof, new windows (in existing locations which have been bricked in), new plumbing, electrical, HVAC, including restoration in place and reuse of the existing gymnasium floor and reuse of historic items throughout the renovation. The Fieldhouse will build on the success of the connected Central Lofts, which AP Development renovated in 2020-2021 as 61 market-rate apartments.
Applicant: AP Development LLC
LEI Request: $4,850,625
Total cost: $24,253,125
% Breakdown:
- Private: 57%
- Local Public: 23%
- LEI: 20%
Match Sources: Debt, City of Evansville TIF bond, Developer Equity
Project Identified KPI Goal: Housing Units Developed
Timeline:
Site Control: Secured
Schematic Design: Completed
Development Design Drawings: December 1, 2024
Construction Drawings: March 1, 2025
Funding Commitments: May 1, 2025
Construction Start: June 1, 2025
C0nstruction Completion: July 1, 2026
Project 100% Lease Up: January 1, 2027