Development company buys 5th and Main tower in Downtown Evansville

Updated: Sep. 26, 2019 at 1:08 PM CDT
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EVANSVILLE, Ind. (WFIE) - Plans are in the works for restaurants, retail, offices, and apartments at the tallest building in Downtown Evansville.

Domo Development LLC has announced they have acquired the former headquarters for Old National at 5th and Main.

They say there are plans for ground floor restaurants and retail, office space, more than 60 apartments, four levels of indoor parking, and indoor-outdoor amenity spaces.

5th and Main tower plans
5th and Main tower plans(Downtown Evansville Community Development)

“We’re excited for the future of Evansville and to be a part of it," said Eric Doden, principal in developer with Domo Development Company LLC. “We look forward to developing a spectacular project which adds to the growth already happening in Downtown Evansville. The project continues the momentum started by several other high-profile projects in Downtown catalyzed in part by the Regional Cities initiative. Our goal is that the 5th and Main tower will become a striking landmark for the whole city and region.”

Mayor Lloyd Winnecke says he sees the development as “an enormous statement of confidence about the direction of Evansville.”

“It’s exciting to add the 5th and Main tower to this extraordinary chapter of our city’s history. The investment into our city’s tallest building, and the exciting vision of the developer, will reinforce downtown as a destination for living, shopping, and dining,” said Mayor Winnecke.

5th and Main tower plans
5th and Main tower plans(Downtown Evansville Community Development)

Officials say funding from Regional Cities will play a critical role in the project.

Total redevelopment costs are expected to be between $25 and $30 million.

You can see more about the project here.

You might remember, this isn’t the first time plans for the building have been discussed.

As we first reported in 2017, plans were announced to complete a $25 million transformation.

Previous: FIRST ON 14: Evansville’s tallest building to undergo total reconstruction

Those plans eventually fell through.

Previous: Downtown businesses react after learning the sale of the 420 Main Building fell through

Domo Development LLC says they’ve been helped in their search for local investors by the Downtown Evansville Development Corporation.

Here is the full announcement made Thursday afternoon:

Evan Gorman has more on the history of 420 Main Street.

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