Developers Seek $18.4 Million in Tax Credits to Redevelop Block on Main Street

Developers Seek $18.4 Million in Tax Credits to Redevelop Block on Main Street

Posted: Dec 22, 2020 12:55 PM
Updated: Dec 22, 2020 10:56 PM

Evansville, IN- The group of investors purchasing 420 Main in Downtown Evansville are set to acquire the Sycamore building.

Developers have plans to demolish Evansville's tallest building to make way for a new six-story mixed-use building. They have plans to take the Sycamore building down, too.

It will be replaced with a four-story building featuring commercial and office space as well as residential units.

The investors are hoping to receive more than 18 million dollars in redevelopment tax credits from the state.

Should the credits and financing be approved, demolition on 420 Main will begin by the end of the first quarter of 2021.

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The combination of sunshine and southerly winds will make for another abnormally mild day throughout the Ohio Valley - expect an afternoon high temperature near 69° this afternoon. Friday evening looks as though it will be just as pleasant; after seeing the upper 60s earlier in the day, we'll dip to 60° by 5 PM before falling towards 54° around 7 o’clock. We are however, watching a passing low pressure system and accompanying cold front that is expected to pass through the Tri-State late Friday evening and early Saturday morning.
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