Evansville-based Old National Bank and an Indianapolis-based development company on Thursday announced a $24 million real estate project in Lafayette.
The five-story development will include 96 luxury apartments, a regional headquarters and branch office for the bank, and space for a restaurant or retail business.
Randy Williams, who is Old National Bank market president for Lafayette, and Craig Von Deylen of Deylen Realty Inc. made the announcement.
The development will be located on the grounds of Old National's current downtown banking center site (formerly Lafayette Savings Bank headquarters at 101 Main St.
Von Deylen said he thinks downtown Lafayette's compact area has "a lot of amenities, a lot of things happening and people will live here."
Lafayette Mayor Tony Roswarski said the investment "really speaks to where our downtown is going."
The project will be known as 101 Main. Construction is scheduled to begin in September and last about 18 months.
Delen Realty's other projects include Fletcher Place Lofts, Murphy Arts Center and The Hinge in Indianapolis.
Old National is the biggest financial services company based in Indiana.