READI 2.0 in the Evansville Region
READI 2.0 is the second round of Indiana’s Regional Economic Acceleration and Development Initiative (READI), a statewide program that invests in projects to enhance quality of life and drive economic growth.
On April 11, 2024, the Evansville Region was one of six regions in Indiana to receive the maximum award of $45 million in READI 2.0 funding. These projects aim to grow our population, expand high-quality job opportunities, improve health outcomes, and reduce poverty across Gibson, Posey, Vanderburgh, and Warrick Counties.
The following READI 2.0 projects are underway in our region:
THE DOMINION
WARRICK COUNTY | $5M READI 2.0 AWARD
$104.9M 10-YR LOCAL GDP IMPACT
150 HOUSING UNITS
The Dominion—a $71.5 million mixed-use development at the intersection of State Road 66 and Grimm Road—marks the Evansville Region’s first project to receive READI 2.0 funding. Phase one, beginning construction in September 2025 and slated for completion in summer 2027, includes 150 market-rate apartments, a five-story commercial building with ground-floor retail and dining, and a public plaza for community gatherings. Funded primarily through private investment, with a $5 million READI 2.0 grant and $8.46 million in Warrick County TIF support, The Dominion will expand in phase two to include additional housing, a hotel, and more restaurant and retail options—creating a vibrant live-work-play destination in the heart of Warrick County. [LEARN MORE]
THE DISTRICT PHASE II
GIBSON COUNTY | $3M READI 2.0 AWARD
$30.2M 10-YR LOCAL GDP IMPACT
110 HOUSING UNITS
The District Phase II —in Princeton, Indiana, represents the next step in expanding the city’s housing options and supporting local economic growth. This $14.6 million project adds 110 new one-, two-, and three-bedroom apartments to the existing 144 units—bringing the total to 254. With construction set to begin in fall 2024 and completion expected by summer 2025. By increasing residential capacity near Toyota Motor Manufacturing Indiana, The District Phase II will give more employees the opportunity to live close to work—boosting local spending and contributing to Princeton’s continued economic vitality. Amenities including a walking path, dog park, and pool are anticipated to be completed by the end of 2024.
FARMINGTON RIDGE
POSEY COUNTY | $945K READI 2.0 AWARD
$4.9M 10-YR LOCAL GDP IMPACT
90 NEW HOMES
Farmington Ridge—a new 32.75-acre neighborhood by Hometown Ventures Group (HVG) near Poseyville, will bring up to 90 new affordable homes to Northern Posey County. The $30–35 million development, designed by Cash Waggner and Associates, aims to meet local workforce housing needs for employees of companies such as Hoehn Plastics, Nix Companies, CountryMark, MSD of North Posey County, GAF, and Toyota. Supported by a $4.725 million investment in infrastructure, the project will offer homes ranging from 1,400 to 1,800 square feet, priced between $275,000 and $350,000, with construction of approximately 10 homes per year. Buyers will also have the option to purchase lots and build custom homes, contributing to the region’s growing demand for quality, attainable housing near top-ranked North Posey County schools.
CRAWFORD DOOR
VANDERBURGH COUNTY | $2.7M READI 2.0 AWARD
$48M 10-YR LOCAL GDP IMPACT
139 HOUSING UNITS
Crawford Door—will revitalize a long-vacant historic property near Bosse Field, Garvin Park, and the Deaconess Aquatic Center into a vibrant mixed-use development. The project includes the rehabilitation of the historic Crawford Door building and new construction for a total of approximately 139 affordable and workforce housing units and 10,000 square feet of commercial space. Utilizing 4% bond Rental Housing Tax Credits, Affordable Workforce Housing Tax Credits, and State and Federal Historic Tax Credits, the project will serve residents earning up to 80% of the Area Median Income in Vanderburgh County. Once complete, Crawford Door will transform a blighted area into a walkable neighborhood hub, connecting residents to nearby parks, employers, and community amenities.
LOU DENNIS PARK
WARRICK COUNTY | $1M READI 2.0 AWARD
$1.3M TOTAL LOCAL GDP IMPACT *construction only
Lou Dennis Community Park — is a long-standing community hub undergoing revitalization to replace the retired “Fortress of Fun” playground with a new, safe, and inclusive play area and obstacle course in Newburgh, Indiana. Following record park usage—over 6,000 visitors in June 2024 alone—the Newburgh Parks Department aims to meet growing community demand with modern, durable equipment designed to enhance family well-being and attract visitors. The project timeline includes planning and design in Q2 2025, construction in Q4 2025, and completion in Q2 2026. This Quality of Place investment will support talent attraction, regional tourism, and local economic growth while strengthening social connections and community pride.
HAGEMANN PARK EVENT CENTER
POSEY COUNTY | $2M READI 2.0 AWARD
$8.7M TOTAL LOCAL GDP IMPACT *construction only
Philip H. Hagemann Event Center —in Mount Vernon, Posey County, is a 27,445-square-foot multifunctional facility within the newly developed Hagemann Park, designed to serve the community, town staff, and the Boys and Girls Club. The center will include an 8,000-square-foot event hall with hospitality suites and catering kitchen, offices and conference rooms for the Parks Department, and an 8,000-square-foot youth services area with game rooms and support facilities. Construction is anticipated to start in mid-2025, with completion expected in Spring of 2027. The center will support talent attraction and retention, regional tourism, and local economic activity, while generating revenue to sustain programming, staffing, and maintenance. By providing a central hub for community gatherings, youth development, and workforce events, the Hagemann Event Center will enhance quality of life and drive economic growth in Mount Vernon and Posey County. [COMING SOON!]
THE EASTFIELD RESERVE
VANDERBURGH COUNTY | $6M READI 2.0 AWARD
$591M 10-YR LOCAL GDP IMPACT
240 HOUSING UNITS
Eastfield Reserve—in Evansville, Indiana, is a proposed 240-unit affordable housing development featuring one-, two-, and three-bedroom apartments across 10 buildings. The community will include a 3,500-square-foot clubhouse with laundry facilities, a computer lab, leasing office, maintenance space, and a large room for resident events and community engagement. Outdoor amenities will include a playground, picnic areas, and multiple green spaces, including pocket parks and a central landscaped area, designed with “security by design” principles. Residences will feature balconies and porches to enhance community connection, and construction will focus on energy-efficient systems and appliances. Rents will be based on 30–70% of the Area Median Income using HUD affordability guidelines, and the project will utilize READI 2.0 funding to support construction.
JUNIOR ACHIEVEMENT DISCOVERY CENTER
VANDERBURGH COUNTY | $1.7M READI 2.0 AWARD
$9.1M TOTAL LOCAL GDP IMPACT *construction only
Junior Achievement Discovery Center—in the Greater Evansville Region is a ~24,000-square-foot experiential learning center designed to give students in 4th–12th grade hands-on opportunities to apply classroom concepts in an immersive, real-world environment. Developed by Junior Achievement of Southwestern Indiana (JASWIN), the center features three signature capstone programs—JA BizTown, JA Finance Park Entry Level, and JA Finance Park Advanced—that simulate the local 15-county region, helping students understand financial concepts, develop 21st-century skills, and foster entrepreneurial thinking. By connecting academics to practical experiences, the Discovery Center inspires students to pursue thriving careers and make meaningful contributions to the local community.
Proposed Alcoa Warrick Operations Expansion (under analysis)
WARRICK COUNTY
Proposed Alcoa Warrick Operations Expansion (under analysis)—in Warrick County, potential to strengthen the region’s industrial base and create over 40 new skilled jobs with wages of $28–$38 per hour. The proposed projects would add holding furnaces, increasing value-added product casting capacity. They would be supported by $42 million in Federal 48C Department of Energy grants and a $2 million Warrick County tax abatement. Employing over 850 people, Alcoa Warrick also promotes sustainability by reducing pollutants in its wastewater and managing stormwater runoff to protect the Ohio River ecosystem, supporting local communities, and contributing to regional economic growth.