Courtesy: DOWNTOWN EVANSVILLE – Economic Improvement District/Community Development Corporation

Courtesy: DOWNTOWN EVANSVILLE – Economic Improvement District/Community Development Corporation

EVANSVILLE, Ind. (WEHT) – Big changes are coming for the tallest building in Evansville.

Domo Development Company LLC announced on Thursday that it acquired the former Old National Bank headquarters at 5th and Main Streets.

Domo Development said the 18-story tower will be redeveloped as a mixed-use project containing ground floor restaurants and retail, office space, over 60 apartments, four levels of indoor parking, and indoor-outdoor amenity spaces available for all tenants.

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

“We’re excited for the future of Evansville and to be a part of it,” said Eric Doden with Domo Development. “Our goal is that the 5th & Main tower will become a striking landmark for the whole city and region.”

Mayor Lloyd Winnecke said the announcement is “an enormous statement of confidence about the direction of Evansville.”

Domo Development said funding support from the Regional Cities Initiative will play a critical role in the acquisition of the site.

Domo Development was formed in 2012 and has developed over 1,950 units in seven projects, including Cityscape Flats in Fort Wayne.

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(This story was originally published on September 26, 2019)