New housing in Downtown Evansville has big impact on economy

New housing in Downtown Evansville has big impact on economy

EVANSVILLE, Ind. (WFIE) - The ribbon has been cut on the new Post House apartment building in Downtown Evansville.

The innovative project has been years in the making.

Greg Wathen, CEO of the Economic Development Coalition of Southwest Indiana, and who was involved in the project, says the new building is a living experiment, as he says the building will test new energy technology.

Wathen says this should be the tone with how future development can go.

“You can always see things as a mixed-use development, but can you test other kinds of things and sort of look at better alignment?” said Wathen. “That’s the idea of the Post House, and I think that this becomes sort of the tone with how development should occur, not just in southwest Indiana, but other parts of the state.”

Downtown economic officials say the building has already leased half of the apartments. Josh Armstrong, President of the Downtown Economic Improvement District, said those who live downtown help drive ground floor development.

“Downtown people are active consumers,” said Armstrong. “They like to go out and get a coffee, they walk their dogs, they go to a restaurant they see someone, they like to have their dog on the patio, so we see hundreds of consumer interactions with this a day.”

But it’s not just this new building, Armstrong says adding other downtown apartments over the last few years has attracted people downtown.

“People want to live here because its a clean safe, active neighborhood, and the more people that move here the more we’re able to do those things for people,” said Armstrong.

Downtown housing development continues, as Armstrong said the old Nabisco building will add more than 20 new apartments in the near future to the downtown area.

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