Old Farm Reserve Development
Description
A proposed development financed through economic development revenue bonds, with a presentation, public hearing, and bond resolution scheduled before the commission.
Impact summary
This is expected to be the first significant tax revenue producer in a TIF area that's sat mostly empty for 20 years, bringing houses, apartments, and commercial space — plus new roads and infrastructure built to county specs — to the west side near USI.
Applicant
- Name
- Parkway Improvements, LLC
At a glance
- Hearings
- 4
- Public comments
- 0
- Total mentions
- 4
Last vote · Vanderburgh County Economic Development Commission
A recommendation, not a final decision. The council decides next.
Last discussed Aug 12, 2026.
Meeting timeline (4)
County Council Meeting/2027 Budget Hearings (Day 1) - Aug 12, 2026
A 110-acre mixed-use development with 240 apartments, about 70 acres of single-family homes, and 30 acres of commercial lots, supported by a TIF revenue bond ordinance that passed first reading.
Vanderburgh County Redevelopment Commission - Jul 15, 2026
A 110-acre mixed-use project with about 163 single-family lots, a 240-unit apartment complex, and 30 acres of commercial development on University Parkway. The commission approved the TIF carve-out resolutions, but the project still needs Area Plan Commission, County Commissioners, and County Council approvals.
Vanderburgh County Economic Development Commission - Jul 15, 2026
A $150 million, 110-acre mixed-use development with 163 homes, 240 apartments, and 30 acres of commercial space. The EDC recommended $10.5 million in TIF-backed bonds to pay for roads, sewers, and water extensions — the county council makes the final call, likely August 12.
Board of County Commissioners (No Drainage Board) - May 26, 2026
A $130 million mixed development with 163 home sites, 240 apartments and 30 acres of commercial near University Parkway, entering via a J-turn instead of a stoplight.
Related issues (4)
Old Farm Reserve development on University Parkway
New TIF allocation areas over the 110-acre Old Farm site clear the way for up to $10.5 million in developer-purchased bonds — the county carries no repayment risk if the project fails.
Old Farm Reserve development and TIF bonds
A $130 million project on land that's sat vacant for over a decade: 163 houses, 240 apartments and 30 acres of commercial near University Parkway. About $14 million in public incentives, but the developer buys its own bonds so taxpayers aren't on the hook.
University Parkway improvements for Old Farm development
The Old Farm development's parkway improvements were approved with a J-turn instead of a traffic signal — something westside Commissioner Goebel said he's glad to see. Dirt is already moving, though rain has slowed work.
Old Farm Reserve development financing
The county is creating a new TIF allocation area for a 110-acre mixed-use housing development and letting the developer buy the bonds to pay for roads and infrastructure, repaid only from new tax revenue the project generates. Supporters say it's a no-risk way to finally activate the 20-year-old University Parkway investment; a resident worries about traffic and road impacts on neighboring Rosner Road.
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