Scannell Breaks Ground on Southwest Indiana’s Largest Initiative Project
On August 13th Scannell Properties broke ground on the “Post House,” their new development in Evansville, Indiana. This $40 million, 144-unit mixed-use project is part of the Indiana Economic Development Corporation’s Regional Cities Initiative Fund, a state-level incentive program that is investing $126 million across the state, $42 million of which has been dedicated to Southwest Indiana. In addition to apartment units, Post House will host retail, office, sub-grade parking, and outdoor community space as components of the project.
As part of the region’s Master Development Plan, Post House will include a New Urban Living Research Center designed for the introduction and testing of new technologies related to the integration of “Smart” devices into an ergonomic living space. Solar panels, energy storage, “Smart” appliances, and mobile-connected devices are amongst these new technologies. This “living laboratory” facility will be operated by locally based Vectren Corp. (NYSE: VVC) and serve as a leading-edge research hub, setting the design standard for future developments and helping to position Evansville and Southwest Indiana as a leader in adaptive energy research.
“This exciting effort is a rare example of a project that can actually change how we live,” says Scannell Managing Director, David Ravensberg. “Ultimately, the technologies developed will be part of a ‘smart energy future’ for other cities and communities across the country,” he concludes.
Post House has been two years in the making and is the product of combined efforts and contributions from the City of Evansville, Southwest Indiana Regional Development Authority, the IEDC, and more. Post House will occupy the vacant parcels adjacent to the Bru Burger on the East most block of NW 2nd St and Vine St in downtown Evansville.