Indiana Landmarks took an option on the rare 1882 row house and spent money on an engineering analysis. The discouraging verdict means that to save the place, Indiana Landmarks must raise $440,000 to cover stabilization of the façade and partial rehab, an amount that could not be recouped by a developer.
“If we can cover the immediate stabilization required by the city to insure public safety and make a start on the rehab, we’ll be filling the financial gap that has caused developers to walk away,” Davis says. Two Riverside residents offered $10,000 each as a challenge to kick-start the fundraising, and another increased the challenge by a $20,000 contribution. An Indiana philanthropist pledged $100,000. The City of Evansville will invest $50,000 to save the historic corner, an amount less than it would have spent to demolish the structure.
On January 22, the Evansville Building Commission voted to postpone a decision on the Owen Block until its March meeting, giving Indiana Landmarks additional time to raise the $440,000 necessary to allow the project to move forward .With the generous Support of preservationists they hae secured pledges totaling $328,28.
They we are still more than $110,000 short on our goal. We hope to have the full amount by February 18, when Indiana Landmarks’ Executive Committee meets to discuss the project.
People interested in preserving this structure who would like to make a donation, should contact Indiana Landmarks