Development News From Southwest Indiana (06/15/00)
Old National Bank Corporation to Build on Riverfront in Evansville
The Old National Bancorp board voted to proceed toward designing the new bank tower at Riverside Drive and Main Street. Ann Burnworth, Bancorp spokeswoman, said that the board reviewed all of the options on its need for space. The board unanimously concluded that the bank proceed with its riverfront building project.
The bank paid the city $2.5 million last year for a city-owned block bordered by Riverside, Main, First and Locust streets. Old National officials have proposed a $40 million, 20-story tower on the property. Burnworth said that the analysis showed the bank still needs the same amount of space, about 240,000 square feet. Burnworth explained that the space analysis was based on what room the bank itself needs, and doesn't include any space that other companies or firms might be interested in leasing.
Old National officials had proposed consolidating some jobs at member banks in Indiana, Kentucky and Illinois into the new tower. The design phase will take several months, and provide detailed data on construction costs and how tall the tower will be.
Bank officials have said construction on a tower should begin in 2001 and be completed in 2003. The bank’s lease at its main headquarters at Fifth and Main streets Downtown expires at the start of 2004. Plans include providing retail space on the tower’s first floor. The bank also agreed to install and maintain a municipal plaza on one-third of the land, the section along the river.
Site designed & maintained by Clients' Choice, Ltd.