600-acre Shadow Lake development in Charlestown could generate $50 million in investment

CHARLESTOWN, Ind. (WDRB) -- The city of Charlestown is moving forward with a business and housing project not far from the River Ridge Commerce Center.

The city changed the zoning for Shadow Lake this week to allow the development to move forward. The 600-acre property is located just south of town, on Highway 62. It will feature a business park and residential housing, as well as retail and industrial space.

The project involves constructing miles of roadway, sewer, water and drainage infrastructure to make way for residential, commercial, industrial and retail development, according to a news release.

Charlestown Mayor Treva Hodges said Shadow Lake is "the most transformational project Charlestown has seen in decades."

The development will create the Shadow Lake Business Park, which will serve as home to the new corporate headquarters for Dan Christiana Excavation as it helps build out the infrastructure for the larger development.

"We want to make sure we are a great neighbor to the community. We've got residential subdivisions all around. Dan Cristiani himself lives right over the hill, so this whole development will be his neighbor as well as it is going to be ours,' said Cristiani Excavating Development manager Josh Hillman.

The mixed-use development project is expected to encompass 330 acres of land with more than 2 million square feet of light industrial building construction and a variety of commercial, restaurant and retail opportunities.

The Shadow Brook Farm Residential Development project will occupy approximately 270 acres of property near the business park. Shadow Brook Farm also features single family, patio homes and multi-family developments.

The initial phase could create $50 million in private investment. About 160 Dan Cristiani Excavation employees will relocate to Charlestown, and the project is expected to create 40 additional jobs.

The City of Charlestown said a development plan will soon be presented to the public that will include community feedback.

Officials hope to break ground on the initial improvements in September. A target date of late 2023 or early 2024 has been set for the first industrial use building to open for business.