The Jeffersonville Redevelopment Commission has opted to move forward on negotiations with two companies to lead the proposed multi-million dollar Gateway Development. The News and Tribune reports the field of five was narrowed to developers from Indianapolis and Louisville. Hoagland Commercial Realtors and Keystone Realty Group will begin the process of acquiring the 10-acre site located near I-65.
Hoagland's partner, Sun Properties, is pitching a three building, 201,000 square-foot design that includes a four-story hotel, retail, office and residential space. If selected, construction could begin as early as this summer and wrap up in around two-and-a-half years.
Keystone's plans call for less than half the total space, including two retail and three restaurant buildings, plus a 150-200 room hotel. They believe building construction could begin by year's end.
Source: he News and Tribune