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October 6, 2013

New spaces available at River Ridge

Rail line move opens up more property

JEFFERSONVILLE —

The River Ridge Development Authority has cleared some extra space at the commerce center.

Two resolutions approved will help relocate a rail line to create a more marketable piece of property and to allow River Ridge’s executive director to negotiate the terms on what will likely become many spaces.

Paul Wheatley, director of marketing and finance at River Ridge, said the River Ridge Development Authority board approved a resolution with BTM Engineering to move a rail line near Paul Garret Avenue and the Clark County Solid Waste Management District building. He said the rail line that runs through the property will be relocated to help create a larger piece of marketable property.

“It maximizes the usable area,” Wheatley said. “It basically gives us better sites to the north, south and east. It gives a whole additional site by making the change.”

BTM Engineering will complete the rail design work for the relocation project at an amount not to exceed $45,410.

The other resolution passed by the board at the specially called meeting last week was to enter into negotiations for what will eventually become a parking lot. The board agreed to allow River Ridge Executive Director Jerry Acy to negotiate a purchase agreement for the 0.4 acre site. Wheatley said the parking lot was sought to help facilitate a project underway with Seven Development LLC.

Seven Development is the broker for River Ridge Retail 1, which has purchased two acres in front of the NuYale property in the commerce center where two retail buildings will be constructed. 

To date, it is only retail tenant that has planned to locate in the commerce center. Its plans call for a two-story building with about 9,200 square feet on the first floor and another 8,500 to 9,000 square feet on the second floor. It is expected to house up to four users. A second building would be about 5,000 square feet and house one to two users.

To accommodate the two-story building, Wheatley said the developer needed the land for additional parking.

Tenants of River Ridge Retail 1 have yet to be named, but Ryan Pennington, principal and CEO of Seven Development LLC, said in a previous report businesses like a financial institution, sandwich shop and a medical office are likely occupants of the building.

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