Transforming Downtown Evansville: Market Street Apartments Revitalization
Evansville, Indiana, is experiencing a new wave of urban renewal, and at the heart of this transformation is the Market Street Apartments project. Spearheaded by Global Integrity Investments (GII) in collaboration with ARC Construction, this ambitious redevelopment is set to breathe new life into a historic downtown building, delivering 59 affordable housing units to the community.
This project is a testament to what can be achieved when integrity-driven investment meets a commitment to community enhancement. With the leadership of Toby and Angie Potter and the expertise of Jamie Bateman and the ARC Construction team, Market Street Apartments is poised to be a landmark development in Evansville.
A Vision for Revitalization
Located at 304 Market Street, Evansville, Indiana, this five-story building, including a basement, spans approximately 59,000 square feet. While its net rentable space is 36,290 square feet, every inch is being carefully repurposed to provide quality living spaces.
The property was acquired for $750,000, with a substantial $6 million investment dedicated to a complete gut rehab. The project is more than a facelift—it’s a transformation from the bones up, ensuring that residents benefit from modern amenities while preserving the building’s historical integrity.
With a target completion date of end of Q1 2025, Market Street Apartments will soon provide a fresh start for many families and individuals in need of affordable housing.
Affordable Housing with a Purpose
One of the most significant aspects of this redevelopment is its commitment to affordability. Thanks to ARPA (American Rescue Plan Act) funds, approximately 40% of the units will be reserved for individuals earning 65% or less of the Area Median Income (AMI). This ensures that the project directly contributes to Evansville’s affordable housing stock, supporting residents who might otherwise struggle to find quality accommodations in the downtown area.
In addition, GII plans to collaborate with the Evansville Housing Authority to bring housing vouchers into the project. This partnership will further expand access to housing for low-income residents, reinforcing the development’s mission of community impact.
Strategic Location and Economic Incentives
Market Street Apartments is not just a standalone project; it benefits from a prime location and economic incentives designed to encourage investment in Evansville’s urban core. The property is situated within:
- An Opportunity Zone – Providing tax benefits for long-term investors who support economic growth in designated areas.
- A Designated Energy Community – Offering potential energy-efficiency grants and incentives.
- The Downtown Master TIF (Tax Increment Financing) District – Supporting infrastructure and redevelopment efforts in the area.
These designations not only benefit investors but also ensure that Market Street Apartments contributes to the broader revitalization of downtown Evansville.
The Power of Collaboration: GII & ARC Construction
Bringing a project of this magnitude to life requires expertise, vision, and dedication. Global Integrity Investments, led by Toby and Angie Potter, specializes in acquiring and transforming multifamily properties with high-value potential. Their hands-on approach, coupled with a deep commitment to integrity and transparency, ensures that each development they undertake creates real, lasting impact.
For the construction, GII has partnered with ARC Construction, with leadership from Jamie Bateman and his team. ARC Construction is known for its high-quality work and extensive experience in complex rehabilitations. Their role in executing the gut rehab of Market Street Apartments ensures that the project maintains the highest standards of craftsmanship and safety.
Together, these teams are redefining what affordable housing can look like—blending historic charm with modern livability.
A Look Ahead: What Market Street Apartments Means for Evansville
As construction progresses, excitement continues to build around what Market Street Apartments will mean for downtown Evansville:
- More Housing Options – The addition of 59 units will help address the demand for affordable housing in a rapidly evolving market.
- Community Growth – By revitalizing a key downtown building, the project will encourage further investment and economic activity in the area.
- Historic Preservation Meets Modern Living – The thoughtful renovation will preserve the building’s character while equipping it with contemporary conveniences.
With a completion date set for early 2025, Market Street Apartments is more than just a development—it’s a symbol of renewal, opportunity, and commitment to Evansville’s future.
Final Thoughts
Market Street Apartments represents a major milestone in the ongoing revitalization of downtown Evansville. Through strategic partnerships, innovative financing, and a deep-rooted commitment to community impact, Global Integrity Investments and ARC Construction are setting a new standard for affordable housing developments.
As we look toward the grand opening in 2025, this project serves as a reminder that real estate investment isn’t just about buildings—it’s about people, neighborhoods, and the potential to create lasting change.
For more updates on the Market Street Apartments project and other initiatives by Global Integrity Investments, stay tuned!
Have Questions? Get in Touch!
If you’d like to learn more about Market Street Apartments or explore investment opportunities with Global Integrity Investments, contact us today:
📍 Global Integrity Investments
📞 (972) 838-7715
📧 [email protected]
🌍 globalintegrityinvestment.com
