READI 2.0-funded expansion adds 114 new housing units in Gibson County
PRINCETON, Ind. (January 12, 2026)— Indiana Governor Mike Braun, Community leaders, regional partners, and stakeholders gathered today to celebrate the ribbon cutting and grand opening of The District Phase II, marking the next major milestone in expanding workforce housing options in Princeton and Gibson County.
Supported by a $3 million READI 2.0 award, The District Phase II represents a $14.6 million investment and adds 114 new one-, two-, and three-bedroom apartments to the existing development. With the completion of Phase II, The District now offers 258 total housing units, strengthening the city’s residential capacity and supporting continued economic growth. The project is expected to generate a $30.2 million local Gross Domestic Product impact over the next 10 years.
Located near Toyota Motor Manufacturing Indiana, The District Phase II expands housing options for employees seeking to live near work, supporting workforce retention and long-term economic growth in the region. Amenities include a walking path, dog park, and pool, enhancing quality of life for residents and contributing to Princeton’s growing appeal as a place to live and work.
The District Phase II builds on the success of the original development in 2023, which addressed a critical workforce housing gap in Princeton and marked the city’s first multifamily housing project in nearly a decade.
Administered by the Evansville Regional Economic Partnership on behalf of the Southwest Indiana Regional Development Authority, this project advances the Evansville region’s plan for affordable and workforce housing, a key driver of talent attraction, retention, and long-term economic vitality.
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About the Evansville Regional Economic Partnership
The Evansville Regional Economic Partnership (E-REP) leads economic development efforts for the Evansville, Indiana region and elevates the overall quality of life through transformational projects, planning, advocacy, and business engagement. Additionally, E-REP supports the attraction, startup, and growth of regional businesses.
About the Southwest Indiana Regional Development Authority
The Southwest Indiana Regional Development Authority (RDA) is a regional, quasi-governmental entity representing Posey, Gibson, Warrick, and Vanderburgh counties and the City of Evansville. The RDA serves as the applicant and fiscal agent for the Evansville Region’s READI and READI 2.0 funding, supporting projects that advance housing, economic development, and quality of place. The Evansville Regional Economic Partnership administers regional initiatives on behalf of the RDA.
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Related news: PRINCETON, Ind. (October 23, 2023) Grand Opening of “The District” Housing Complex in Downtown Princeton – READI funded project supports local employers, current and future residents with new housing in Princeton