Options include two or a single hotel building, a Starbucks, retail space, a Qdoba or a McDonald’s.
But no action was taken by the Jeffersonville Redevelopment Commission to accept a proposal from either one of the two contractors that returned proposals to develop property near 10th and Spring streets. Two requests for proposal were returned to the redevelopment commission to develop city-owned property purchased under the previous administration to make way for a proposed canal project. However, the proposals returned were limited to a development area near the 10th Street corridor that would extend back to Indiana Avenue and Ninth Street.
Jeffersonville-based API offered to develop the 4.3 acre site by locating a national hotel chain with 2,300 square feet per floor and total 150 rooms. In addition, the plans call for three retail businesses to locate in about 6,000 square feet of space on the site.
“There’s really a true lack of restaurant and retail services available at this end of Jeffersonville,” said API President Alan Muncy.
Eric Goodman, vice president of development with API, added that a hotel planned for the site will fill a need, especially with Clark Memorial Hospital across the street.
API previously offered that Starbucks has signed a letter of intent to locate at the site. Wednesday it was revealed the group also has letters of intent from Qdoba and Verizon.
“We are in communication for a Hilton franchise group that does have interest in this site,” Muncy said, referring to the planned hotel. He added there is a potential for 190 full- and part-time positions to be created as a result of the development.
But to bring in the companies and develop the site, the purchase price for the property that was offered was $1.
“The reason for our proposal and such a low purchase price is the amount of investment we’ve got to make into the property,” Muncy said. “The amount of on-site and off-site improvements, we’ve got to get the purchase price down. We’ve got to be able to pass that savings onto the tenant. It’s not our intent to put it in our pocket, it’s our intent to incentivize and make it an affordable project for people to come and be a part of.”