The Vault on Main Apartment Complex Opened

A new 161-unit luxury residential project has launched on the site of the former Old National Bank Building.

Updated on Oct. 2, 2026 in Openings & Closings

Modern brick and glass apartment building facade in downtown Evansville, reflecting soft afternoon sunlight. — The Vault on Main, a $60 million, 161-unit luxury residential project, has officially opened in downtown Evansville at the site of the former Old National Bank Building. AI Illustration. Upload story photo >

Live Poll

Do you believe new downtown apartment projects help local businesses thrive in your area?

The Vault on Main, a $60 million apartment complex in downtown Evansville, has officially opened its doors. The project brings 161 new units to the city center, occupying the site of the 18-story Old National Bank Building that was imploded in 2021.

Why it matters

The development serves to address a growing demand for residential living space in downtown Evansville. By replacing a long-vacant site, the complex aims to bolster the downtown housing market.

The project represents a $60 million investment across nearly 5,000 square feet of space. Currently, one-third of the 161 total units are occupied, with base rental rates starting at $1,200 per month.

The players

The Vault on Main

This is a new $60 million residential apartment complex located in downtown Evansville.

Old National Bank Building

This former 18-story structure was a downtown landmark prior to its demolition in 2021.

The details

The new complex features a variety of floor plans including studio, one-bedroom, and two-bedroom apartments. Residents have access to communal amenities such as a courtyard, a heated saltwater pool, various lounge areas, and dedicated workspaces.

The Old National Bank Building was imploded in 2021.
The Vault on Main held its grand opening on October 2, 2026.

Market Landscape

The project follows a pattern set by urban revitalization efforts that prioritize replacing vacant bank or office structures with residential inventory. This development mirrors a broader national trend of adaptive reuse in downtown urban redevelopment, shifting the city center toward high-density living.

Prospective tenants looking for downtown housing options can now lease units starting at $1,200 per month. Because the building is currently one-third occupied, availability may change quickly as the facility reaches full capacity.

The takeaway

The transformation of the former bank site signals a significant shift in downtown residential inventory. Potential residents should act quickly to secure units given the anticipated high demand for the new living spaces.