Upscale apartment complexes planned for both sides of the Ohio River
NEW ALBANY, IN (WAVE) - Projects are in the works to get people to move downtown on both sides of the river.
A $16 million upscale apartment development would be the first of its kind in New Albany.
"We are looking forward to bringing some new life into these two blocks," said New Albany Mayor Jeff Gahan.
The project would build on the property that used to be Coyle Chevrolet. The lot and old building on Spring Street has been vacant for seven years.
"There are some steps we have to take but generally speaking the feedback has been very good from the council members, other board members, and IEDC in Indianapolis," said Gahan.
The project developer- Flahery & Collins- out of Indianapolis is planning the complex to house 157 units, complete with parking and a swimming pool.
"The more residents that we can get done here to share the news with other people about what a good thing we have in New Albany the better," said Gahan.
While several restaurants and retail stores are already calling downtown home, Gahan says he believes this project will be a perfect fit.
"We've expanded the parks, improved the parks, added a swimming pool, added a sportsplex. We've redone Main Street, so some of that public investment is driving the private investment that we see now, so we think New Albany is on a good track," said Gahan.
Over on Main Street in downtown Louisville, close to where NuLu meets Butchertown, a larger apartment complex has been put on temporary hold.
Attorney Steve Porter represents several preservation groups that are concerned about four historic buildings that sit on the property.
"We don't think that the developer has proven that the building should be demolished as opposed to being reused as part of the development," said Porter.
Porter says the groups are hopeful to come to an agreement with the developer, The Bristol Development Group out of Tennessee.
"We have nothing against the development itself, the basic idea of the seven story apartments building and all the apartments and everything in all likelihood is a good project for the neighborhood and good for the city," said Porter.
The Bristol group says they are disappointed that the hearing at the Landmarks Commission meeting yesterday had to be carried over.
"The Commission was apparently not provided all of the information they are required to review in hearing an appeal of an ARC decision," said Charles Carlisle, with the Bristol Development Group. "They decided to hold over until next week in order for them to receive and review the required materials."
The Louisville Metro Historic Landmarks will continue its review of the project on Feb. 19.
As for the New Albany project, if everything goes as planned they could be breaking ground this spring.
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