Indiana Developer adds 663 units in Evansville, Lexington, and Cincinnati
CARMEL, Ind., Nov. 5, 2026 /PRNewswire/ -- 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, The Slate in east Cincinnati and The Charles at Coventry in north Lexington. Leasing is underway at all three locations.
"Opening three communities in a short period is an exciting milestone for our team," CRG Residential CEO Christopher Reid said. "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."
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," CRG Residential President Dave Powers said. "Those fundamentals help support durable demand over the long term."
About the Communities
The Vault on Main – Evansville, Ind.
The Vault on Main replaces the former 18-story Old National Bank headquarters, which was demolished in 2021, and brings new residents to the heart of downtown. CRG built the 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.
- Investment: $60 million
- Apartments: 161 studio, one- and two-bedroom units in a four-story building
- Location: Downtown Evansville, near the Ford Center, IU School of Medicine-Evansville and the riverfront
- Features: 4,755 square feet of ground-floor commercial space, an underground parking garage with EV charging, a resort-style pool, and a coworking space and makerspace
In 2025, CRG developed Promenade Flats, a $44.7 million luxury apartment community with 220 units on Evansville's east side.
The Slate Apartments – Union Township, Ohio
The Slate brings new rental housing to the growing commercial corridor east of Cincinnati, offering one- and two- bedroom units. The community sits in Clermont County's Eastgate area, close to Cincinnati Children's Eastgate campus, and the expanded Total Quality Logistics headquarters.
- Investment: $50 million
- Apartments: 242 studio, one- and two-bedroom units
- Location: 939 Rosemary Ave., in the Eastgate area of Clermont County, near I-275 and State Route 32
- Features: Heated saltwater pool, coworking spaces, an off-leash dog park, 1-gig fiber internet, EV charging, and private balconies/patios
CRG also recently broke ground on the $50 million Union 48 community with 220 units in Hamilton Township, Warren County, Ohio. Leasing is expected to begin Spring 2027.
The Charles at Coventry – Lexington, Ky.
The Charles at Coventry adds 260 apartments to Lexington's north side. The three-story, premium multifamily community gives residents quick access to I-64 and New Circle Road, with amenities built for everyday living.
- Investment: $57.5 million
- Apartments: 260 one- and two-bedroom units in a three-story, garden-style community
- Location: 2329 Remington Way in Highlands Park on Lexington's north side, near I-64 and New Circle Road
- Features: Heated saltwater pool, bocce court, off-leash dog park, coworking clubhouse and private garages
About CRG Residential
CRG Residential, LLC is a Midwest-based construction and real estate investment firm that specializes in complex multifamily housing developments throughout the Midwest and eastern United States. With more than 175 employees, CRG Residential has over 33 years of experience, having renovated and/or constructed over 50,000 multifamily units throughout nearly 27 states.
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SOURCE CRG Residential
