NEW ALBANY, Ind.(WDRB) -- It is just one intersection in downtown New Albany.
But it's a good example of the revitalization underway throughout the downtown area.
You can hear the sound of the power saw at the corner of Main and Bank Streets.
Restoration work is underway on the southwest corner of the intersection on three run down buildings.
The work is being done by the Carter Management Company with owners Don and Ron Carter heading up the project.
During the past couple of years they have restored a number of buildings in New Albany.
"These buildings have been in disrepair for many years," Ron Carter told WDRB News on Wednesday, "and we decided it was time to come down here and invest in the future of New Albany."
The buildings the two brothers are now renovating date back to the 1800's.
"We'll have commercial on the first floor and apartments upstairs on the second floor," explains Carter, "we want to create a destination for New Albany."
Just across the street another renovation project is underway by a different company on one of the most historic buildings in Southern Indiana, the Old State Bank of Indiana.
It is a beautiful Greek revival building, constructed in 1837, that had fallen on hard times.
When renovation is completed on it, 30 sales employees of the SkyShield Roof and Restoration Company will start working at the site.
"We're excited about New Albany," says Doug Davenport from SkyShield. "It's a town that is really rebuilding itself and coming around. There is a lot of growth here and we wanted to be a part of it.
According to Ron Carter, there is apparently a lot of people who want to be a part of New Albany's comeback.
"Five years ago everything was for sale. Now things are for lease because investment groups have come in and snatched up these properties because they know very soon New Albany is going to be the place to be," Carter said.
It took many years to get the ball rolling on restoring the downtown and there have been hits and misses along the way and some people wondered if it would ever happen.
Wonder no more.
"Big money is being spent in downtown New Albany by people who know property," Carter said.
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