Dozens of people packed a meeting room at New Albany’s City Hall Friday morning, waiting to learn which projects had been selected for a financial boost from state development funds.
The region — which includes Clark, Floyd, Jefferson, Scott and Washington counties — was previously awarded $45 million in the second round of funding from the state’s READI program, an initiative aimed at investing in growth and prosperity.
Our Southern Indiana Regional Development Authority announced the 21 project selections at Friday’s meeting, which include financial support for education, child care and community centers, housing and park and infrastructure improvements.
The top award — $6.5 million — is earmarked for a major redevelopment project at the former Jeffboat property along the Ohio River in Jeffersonville. Another $5 million has been set aside for the Padgett District Redevelopment, a blight remediation project in New Albany, according to a news release.
Paul Wheatley is with the Wheatley Group, a company representing the Jeffboat property owner. The project aims to transform the former shipyard into a mixed-use development planners say will be a major draw to the area.
Wheatley says the award, which is expected to go toward site work preparation, is “extremely important” to the overall vision. He said the first phase of development calls for projected investment of around $500 million.
“I think it’s a sign that this project is ready to go,” he said. The City of Jeffersonville and OHM Advisors have also contributed to project plans. Thrive Companies was selected as the master developer for the project this year, “so this furthers that momentum,” Wheatley said.
With the recent award, the region is receiving almost $100 million from the READI program, including the first awards since the program got off the ground in 2021.
READI 1.0 projects included $4 million toward the street grid in Clarksville’s up and coming downtown area, $4.1 million toward the South Monon Freedom Trail, $3.3 million toward the first phase of Origin Park and wastewater upgrades or expansion in Charlestown and Jeffersonville.
Cory Cochran, facilitator for the regional development authority, called the Jeffboat project “monumental.”
“It’s riverfront property that is going to be transformational,” he said, adding with the planned housing, shopping, dining and other amenities, “It’s really going to be one of those places where it’s going to have its own gravity.”
The RDA scored more than 70 project proposals this year, and sent less than half to the Indiana Economic Development Commission for review and study.
The regional group used those state results to help narrow the list down and assign dollar amounts to projects.
The state development commission will have final approval.
“Today is the culmination of hard work, community engagement, and partnerships going back more than a year and a half,” RDA Chair Dana Huber said in a news release. “The RDA and its team have been working tirelessly with the community and our partners at the state to get us here today. We have so much potential in our region, and these READI investments only catalyze the growth and development.”
Overall, Indiana is awarding $500 million this round to 15 regions, to spur growth and development across the Hoosier State.
Projects and awards announced by Our Southern Indiana Regional Development Authority for READI 2.0 funds:
- Edwardsville School Community Center (Floyd County) — $2.1 million
- Madison Indiana’s Music City Amphitheater (Jefferson County) — $3.5 million
- The Padgett District Redevelopment (Floyd County) — $5 million
- River Ridge Learning Center (Clark County) — $933,503
- Georgetown Park Improvements (Floyd County) — $1.5 million
- Washington County YMCA Child Care and Community Center (Washington County) — $1.7 million
- The John Hill Childcare Center at the Scott County Family YMCA (Scott County) — $1 million
- Starlight Wastewater Collection System (Clark County) — $3 million
- Falls of the Ohio Foundation Outdoor Education Pavilion (Clark County) — $863,010
- Jeffboat Redevelopment (Clark County) — $6.5 million
- Washington County 4-H Community Building (Washington County) — $1.2 million
- New Pekin Amphitheater (Washington County) — $177,000
- Jefferson Proving Ground Krueger Lake Campground (Jefferson County) — $3 million
- Scottsburg Industrial Development (Scott County) — $300,000
- Riley Estates in Pekin (Washington County) — $846,000
- Madison Coal Property Housing – The Hendricks Building (Jefferson County) — $2 million
- Scottsburg – Maple Run (Scott County) — $2 million
- Aspen Meadows in Charlestown (Clark County) — $956,324
- York Woods Crossing (Scott County) — $2 million
- High Density Housing in Salem (Washington County) — $3 million
- Mason Manor Multi-Family Expansion (Washington County) — $1 million
Coverage of Southern Indiana is funded, in part, by Samtec Inc., the Hazel & Walter T. Bales Foundation, and the Caesars Foundation of Floyd County.
