CRG Residential Celebrates Grand Opening of $60 Million Mixed-Use Development

EVANSVILLE – CRG Residential and community leaders celebrated the grand opening of The Vault on Main on Oct. 2, transforming the former Old National Bank tower site into a $60 million mixed-use development with 161 apartments in the heart of downtown Evansville.

CRG Residential brought the project to life through a public-private partnership with the City of Evansville, the Indiana Economic Development Corporation, the Evansville Regional Economic Partnership, and the Southwest Indiana Regional Development Authority. The development, which received a Regional Economic Acceleration and Development Initiative (READI) grant, occupies the site of the former 18-story Old National Bank headquarters, which was demolished in 2021.

The four-story building offers studio, one- and two-bedroom apartments, 4,755 square feet of ground-floor commercial space and an underground parking garage. Residents began moving in this summer, and leasing continues.

"We are thrilled to see this transformational project completed for downtown Evansville," said CRG Residential CEO Christopher Reid. "These new apartments put residents within walking distance of everything the area has to offer. We are grateful to the City of Evansville, the State of Indiana, and the Southwest Indiana Regional Development Authority for partnering with us to bring this block back to life."

Residents can easily access the Ford Center, the Indiana University School of Medicine-Evansville, the riverfront, Bally's Evansville, and the restaurants and shops along Main Street. A new city park at Fourth and Main is under construction next door and is expected to open by the end of the year. It is funded in part by a $1 million gift from the CenterPoint Energy Foundation. 

Amenities at The Vault on Main include a resort-style pool with a sundeck and tanning ledge, a spacious courtyard, firepits and grilling stations, a 24-hour fitness center with a private workout studio. Residents also have access to a coworking space and makerspace, a conference room, a coffee bar, and a pet wash-and-grooming room. The parking garage also has EV charging stations. 

Apartments feature quartz countertops, large kitchen islands, stainless steel appliances, in-unit washers and dryers, walk-in closets, and private balconies. Select units have 12-foot ceilings.

For leasing information, visit thevaultonmain.com.