JEFFERSONVILLE — Just over six months ago, Spring Street Commons, the two-block mixed-use space at Spring and Market streets in downtown Jeffersonville, was starting to take shape.
Last week, the first tenant moved into one of the 22 units in the building, with leases pending for several more. On the first floor, Coffee Crossing is expected to be moved in by June, with New Washington State Bank following on its heels. Two other downtown commercial spaces — one with 4,000 square feet and the other with 1,400 — are available for lease in this prime location just blocks from the river.
“I love the project,” Alan Muncy, founder and creative officer of arc, which is developing the site, said Wednesday afternoon as he gave the News and Tribune a tour. “I think we’re going into a prime leasing season, which is going to be spring.”
After a year with lower activity in leasing and buying due to COVID-19, Muncy said he’s started to feel a pickup in interest, as more people have access to the vaccine, and as positivity rates have slowed following the holidays. With his condos at nearby Colston Park, he has several offers or contracts in the works and said he’s been getting multiple contacts a day with people asking about the newly-finished apartments at Spring Street Commons.
“When you’re doing this actively you can feel the energy, and I can feel the energy,” he said, adding that he foresees that the units will be filled by the end of spring. He plans to furnish two of the units for Airbnb rentals.
“I love Jeffersonville in general; I love everything it has to offer. I think we’re [eventually] going to see our city open back up and when it does, it’s going to be great.”
Spring Street Commons has 22 residential units — two on the first floor and 10 on each of the two upper floors. The units start at $975 a month for one bedroom and depending on size and location, can go up to $1,275 for the two-bedroom units. They’re equipped with brand new appliances and include sewer and water and trash pickup.
Although the project was initially met with some pushback from city stakeholders, Muncy said he and his crews have gotten a lot of positive feedback on the nearly finished building.
“Everyone loves it; they love the look of it, they think it fits in well with the neighborhood,” he said. “I can’t tell you how many people from Match Cigar Bar next door were excited when they heard Coffee Crossing was coming down here.”
Although there are two first floor commercial spaces still available, Muncy said he’d love to see something like a grocery with a deli to cater to both the more established and newer residential areas in the downtown corridor.
“I’m thinking something big — floor-to-ceiling white shelves with food on it, sliding ladders and a big deli sitting in the middle where you can come in and grab soup, grab sandwiches, go out and sit,” he said. “I think it would do amazing down here.”
The downstairs spaces also have overhead garage doors, which can foster an openness to the businesses and provide space for indoor and outdoor seating.
Muncy said he hopes the new development can be a springboard for more growth in the downtown area — the addition of the 22 residential units means about a $2.5 million economic impact for the city.
“So I think any time you’re going to bring that much money down to an area where people can go and shop, they can eat, they can enjoy themselves, they can be outside...I think all of those things are just going to contribute to growth down here,” he said. “And the more businesses you have, the more people come. The more people that come, the more businesses come. It’s just a revolving door.”