Additional retail and possibly a residential development could be headed to the Clarksville, Ind., side of Veterans Parkway.
Earlier this year, the city of Clarksville asked developers to submit proposals for how they would develop two plots of land the city owns along the popular thoroughfare. Together, the lots are about 5 acres and are adjacent to city hall.
In total, five developers submitted proposals to buy and build on the land, said Dylan Fisher, Clarksville’s director of redevelopment. The city attorney is still reviewing the proposals to see what information the city can release.
The companies that submitted proposals include Carmel, Ind.-based Lauth Property Group, Oak Brook, Ill.-based InSite Real Estate, Louisville-based Hogan Real Estate and Jeffersonville, Ind.-based ARC Construction Management. Lexington-based businesses CRM Companies and Madden Development submitted a joint proposal.
All the proposals for developing 1205 and 1219 Veterans Parkway incorporated both parcels and included some form of retail, Fisher said. One also proposed constructing a residential development.
“We are excited,” he said. “I do think there are quality developments proposed.”
A selection committee started reviewing the applications last week and will narrow the five submissions to four on or before July 1. The proposals will be scored based on the quality of the development, the number of jobs it could create, and how the developer will fund the project, among other criteria. Developers can receive a maximum of 460 points.
The committee will interview the final four developers before one is chosen to move forward with their proposals.
When Veterans Parkway was constructed about a decade ago in Clark County, Ind., the Clarksville side of the thoroughfare quickly developed with big-name stores including Sam’s Club, Target and Lowe’s. It is now a retail destination for area residents who used to frequent River Falls Mall, which closed in the mid-2000s and became a giant Bass Pro Shops.
The Jeffersonville side of Veterans Parkway has been slower to take off because that section of the road was completed later. Still, it has started to flourish with locally owned companies such as The Comfy Cow, Boombozz Craft Pizza & Taphouse and Heine Brothers’ Coffee locating there.
The home improvement store company Menard’s opened a 236,000-square-foot store on the Jeffersonville last fall, and Brentwood, Tenn.-based GBT Realty Corp. is building a $35 million, 240,000-square-foot retail center across the street from it.