Riverview Lofts, an affordable housing complex located on the banks of the Wabash River, is nearing completion.
Andy Myszak, co-owner of Myszak and Palmer Architecture and Development, the local firm taking lead the housing project, said he expects the management team will begin accepting applications for lease sometime next month.
“Construction is moving along very well,” he said, adding that crews are working near around the clock in an effort to get the more than 30-unit apartment building completed by year’s end.
“Cabinets are being set. Interior doors are being hung,” he said. “Painting has all been done on the first and second floor; they’re moving up to the third floor. And the brick is going up on the outside. Things are moving along. They’ll be ready soon to start the paving, finish up the curb work, things like that. They’re working diligently to get everything done on time.”
Riverview Lofts will include 22 income-based, 1-bedroom units and nine market-rate units on its top floor as well as a rooftop terrace for tenants.
Of the market rate units, Myszak said five have already been sold.
“We still have four available,” he added.
The entire $9.4 million housing project, one funded primarily with federal tax credits, also included the construction of 22 single-family homes scattered throughout town, several of them built on empty lots cleared by city officials in their state-funded effort to eliminate blight.
Of those 22 homes, nine have been leased, and their new residents have already moved in.
“We’ll have all 22 of those done by the end of October,” he said, adding that they have a waiting list of 80 people for the 13 homes they have left.
The city’s Redevelopment Commission has been a partner in Myzak’s housing project, paying the $500,000 necessary to tear down the 90-year-old grain silos that once stood where Riverview Lofts is now on First Street.
The RDC, too, is pursuing other ways to help spur the local housing market, including having conversations with local developers interested in building entire subdivisions here.
It’s possible, RDC members have said, that they could help with things like utility connections or even the construction of infrastructure.
The group, too, has additional empty lots that could be given— or sold for a low price — to anyone interested in building on them.
“We just need more housing,” Myszak said, pointing to the extensive waiting list for the development team’s 22 single-family homes.
Advantix Development Corp., the not-for-profit arm of the Evansville Housing Authority and a member of Myszak’s development team, will be managing the lease of the 22 homes as well as the units at downtown’s Riverview Lofts.
The homes, per the tax credits that funded them, will be leased units for 15 years then could potentially be sold.
Myszak said they hope to have a celebratory ribbon cutting at Riverview Lofts sometime in the spring.
Myszak’s team has undertaken several, similar housing projects across southern Indiana in recent years, including a very similar project in Washington and, here, the transformation of a former downtown school building into Clark’s Crossing of Historic Vincennes, a more than 40-unit senior affordable housing complex at 300 N. Sixth St. in 2015.