CRG Residential has unveiled three multifamily communities in Evansville, Cincinnati and Lexington, a $167.5 million investment that adds over 600 apartments across Indiana, Ohio and Kentucky. The new developments include The Vault on Main in downtown Evansville, Indiana; The Slate in east Cincinnati and The Charles at Coventry in north Lexington, Kentucky. Leasing is underway at all three locations.
“Opening three communities in a short period is an exciting milestone for our team,” said CRG Residential CEO Christopher Reid. “We take a long-term approach to every development, investing in communities where we believe quality housing can support continued growth and create lasting value.”
The Vault on Main replaces the former 18-story Old National Bank headquarters, which was demolished in 2021, and offers161 studio, one- and two-bedroom units, as wekk as 4,755 square feet of ground-floor commercial space. CRG built the $60 million project 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 project also received support from the State of Indiana READI funds.
The Slate brings new rental housing to the growing commercial corridor east of Cincinnati, offering one- and two- bedroom units. The $50 million community has 242 studio, one- and two-bedroom units. Amenities include aeated saltwater pool, coworking spaces, an off-leash dog park, 1-gig fiber internet, EV charging and private balconies/patios. Leasing is expected to begin Spring 2027.
The Charles at Coventry adds 260 apartments to Lexington’s north side. The $57.5 million, three-story, premium multifamily community offers 260 one- and two-bedroom units in a three-story, garden-style construction. Amenities include a heated saltwater pool, bocce court, off-leash dog park, coworking clubhouse and private garages.
Carmel, Indiana-based CRG has developed more than 5,000 units in 23 developments across the Midwest.
“We target desirable, high-growth communities with favorable demographics, convenient access to retail and amenities, excellent access to major thoroughfares and meaningful barriers to new competition,” said CRG Residential President Dave Powers. “Those fundamentals help support durable demand over the long term.”
