NEW ALBANY — Downtown New Albany would take on a much different look if a proposed development becomes a reality in the next few years.
Mainland Properties LLC, made a bid and proposal to develop Scribner Place Phase II, which would include a parking garage, plaza, commercial and residential units. The bid, of $1,087,500 for three parcels of property, was the only one received by the city’s Redevelopment Commission on Tuesday.
The plans will be reviewed “with a fine tooth comb,” according to Carl Malysz, New Albany’s director of community development.
He said there are three key elements to study before the proposal can be approved: The proposal has to make sense, have a strong financial plan in place to develop the area and not have a negative impact on adjoining properties.
The commission will vote whether to accept the bid at its next meeting.
“This is something that we don’t want to sit around too long,” said Redevelopment Commission President Irving Joshua. “If it meets the criteria, I think we ought to move on it.”
The development, named River View, is headed by New Albany native Jack Bobo, who was not present at Tuesday’s meeting. The properties include areas at the end of Pearl Street where the city parking lot sits as well as sections of the YMCA lot.
“This could be an exciting development,” Malysz said.
The plaza would be built atop a parking structure and be level with the floodwall. The development is consistent with the downtown/riverfront master plan. The plaza and parking garage would be T-shaped.
“By connecting city to river, River View will serve not only as a link to the past, but also as a path to the future,” Bobo said in a press release.
He said the goal of the project is two-fold — one being to create a vibrant corridor for New Albany’s residents to work, shop and live, while also creating a “sense of place by building on the unique resources found in the area.”
Architect Mose Putney, who is working with Bobo on the project, said financing for the project “is in order.” He estimates River View to be a $40 million project when complete. He also said several businesses have already expressed interest in locating at the plaza area.
“Over the past two years, we have been discussing opportunities to capitalize on the YMCA development which has exceeded everyone’s expectations,” Malysz said. “They have been watching what has been going on in New Albany.”
Putney said if everything falls into place, the group would like to break ground on the parking garage in March 2011.
“Once we break ground, everything goes,” he said. “This is a dream job for an architect.”
“This is an exciting proposal,” said Terry Ginkens, a member of the redevelopment commission.
Malysz said Bobo is serious about the development and the city’s future.
“He can see beyond the naked eye and is excited about the opportunities in downtown New Albany,” Malysz said.
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