JEFFERSONVILLE, IN (WAVE) – Following a rush of new businesses and restaurants opening in downtown Jeffersonville, new plans to build downtown housing are taking off.
Near Big Four Station Park, two new high-end apartment complexes will be built near the newly-opened Marriott Hotel.
The first, the Colston Park development that will house 20 to 24 apartments and condominiums, will break ground on Monday. The units are expected to be completed by next spring.
The second apartment complex will border Court Avenue and house 220 luxury apartments. Work on those will begin in the late summer to early fall and should be completed within 12 to 15 months.
Jeffersonville Mayor Mike Moore said the community is seeing exponential growth as people continue to move over from Louisville. With the renewed interest in the downtown area, the new housing is needed.
"A lot of great parks over here, a lot of new businesses, a lot of new restaurants. The residential aspect was the one thing we were lacking - we're taking care of that need right now," Moore said.
Developer Alan Muncy, President of Arc, is developing Colston Place. Arc also built the Marriott Hotel along W. Maple Street downtown and has plans to build a new office for their company near both new developments.
Muncy said this new housing and business marks a significant, multi-million dollar investment for Arc. But with the growth coming to the area, he believes they're meeting a need that will only grow.
"We're excited to see what other developments are going to come down there. Because obviously, we hope to be a catalyst for those developments. And we believe that by starting the Marriott and the Colston Park project, it's going to drive additional investment into downtown Jeffersonville," Muncy said.
Muncy said as soon as they announced plans for the new apartments, they began getting calls from people interested in renting the units there.
A groundbreaking for the Colston Park development will be held Monday, April 16 at 2 p.m. next to the Marriott Town Place Suites on Mulberry St.