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Evansville Region Officials Break Ground on $21 Million Workforce Housing Complex

Regional Economic Acceleration + Development Initiative (READI) funds support local employers, current and future residents with new housing in Princeton

PRINCETON, Ind. (October 19, 2022) Today, local officials and regional leaders gathered to break ground for a 144-unit apartment complex, known as “The District,” in Downtown Princeton. The $21 million workforce apartment complex is slated to open in Spring 2024 offering affordable, stylish, new housing in a location that will support employer needs and employee preferences.

 “The District will provide a first of its kind development in Princeton,” said Wayne Kinney, developer of The District. “The plan is to transform 2nd Avenue into a destination for those wanting an up-and-coming environment to live and raise a family.”

Located at 2024 S. South Avenue, The District will have units available as early as June 2024. The units will range in size from entry level and executive style one-bedroom apartments to two- and three-bedroom units. The District will be the first multi-family housing development in nearly ten years, filling a workforce housing need for nearby major employers like Toyota Indiana.  

“READI has become a catalyst for change; inviting strong partnerships to drive economic growth, retain talent and attract the workforce of tomorrow,” said Gibson County RDA representative and Toyota Indiana Vice President of Manufacturing, Tim Hollander. “Increased housing is beneficial to the community as a whole, and I look forward to seeing families plant their roots in Gibson County.”

Once complete, the complex will include a club house featuring an exercise room, private mail delivery room, a pool, parking garage rental space and storage rental space. The grounds will include walking paths and grills, and various levels of the apartments will have covered balconies.

In December 2021, the Evansville Regional Economic Partnership (E-REP) on behalf of the Southwest Indiana Regional Development Authority (RDA) led efforts to secure $50 million in READI funds to enable the community’s strategic plan currently underway and known as TalentEVV.

The District was allocated $2.5 million in READI grant funding that will be matched with local public funds from the City of Princeton.  A goal of READI is to spur additional private investment in projects

while being matched by local or federal public funding, and over 72 percent of funding in the project is coming from private sources.

The Evansville Region has the transformational vision to become a nationally recognized place to call home through the work of TalentEVV. Recognizing the abundant need for additional housing to grow and retain population, this project will help fill the housing gap for those in Gibson County and meet the needs for nearby major employers.  The complex is proving to be a catalyst for additional nearby housing investments as an additional 408-unit complex moves forward with preliminary plans.

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About the Evansville Regional Economic Partnership

Evansville Regional Economic Partnership (E-REP) launched in 2021 following the combination of three like-minded legacy organizations in the business and growth space, E-REP promotes regional economic development and vitality. We are here to drive the region’s economic growth, attract a high-wage and high-skilled workforce and elevate quality of life.