LOUISVILLE, Ky. (WDRB) -- The town of Clarksville has taken another step toward a massive redevelopment of its downtown area.
The Clarksville Redevelopment Commission selected a developer to transform three major sites across nearly eight acres near the Ohio River. The properties include a portion of the 24-acre Marathon Bulk property, which the town purchased in 2020.Â
Denton Floyd Real Estate Group will transform three major sites across nearly eight acres, with an estimated investment of more than $226 million. (Town of Clarksville rendering)
Denton Floyd Real Estate Group will lead the project, with an estimated investment of more than $226 million.
The developer's plan calls for building two mixed-use luxury apartment complexes over the next several years. They would also include retail space and amenities such as a heated pool, outdoor common areas, fire pits and grilling stations, a pet park and pet spa, a 24-hour fitness center, a business center, a bike repair and storage area and electric vehicle charging stations.
They would feature retail on the first level and apartments and townhomes on the upper levels. The hope is for construction to start on the first site in late 2023 and the developments to open in late 2025. The second is estimated to begin in late 2026 and open at the end of 2028, though the schedule is tentative, according to town officials.
Down the line, a third site could possibly be developed. While town officials said the use of the property is "still in question," Denton Floyd's proposal calls for a 198-room hotel and convention center, with a rooftop restaurant, a heated pool with a poolside bar, a 24-hour fitness center and a therapeutic day spa.
Denton Floyd Real Estate Group's proposal calls for the creation of a 198-room hotel and convention center, with a rooftop restaurant, a heated pool with a poolside bar, a 24-hour fitness center and a therapeutic day spa. (Rendering provided by the Town of Clarksville)
Denton Floyd still needs to finalize a development plan for the sites, which it will take to the town Planning Commission to be approved.
The area has already seen new development with the Bolt + Tie mixed-use community — which includes apartments and retail space — and the Current812 apartments, which are under construction. The complex is expected to be finished by fall 2023. The town also celebrated the completion of the new Main Street corridor in November 2021.
Related Stories:
- Crews break ground on new luxury apartments, townhomes in Clarksville
- Town of Clarksville celebrates completion of new Main Street corridor
- Town of Clarksville to demolish 22 structures to make way for new development
- A new Clarksville | Master plan invites more housing, green space along Lewis and Clark Parkway
- Bolt + Tie apartment complex and business space opens in Clarksville
- Clarksville officials buys former Marathon Bulk site as part of new redevelopment plan
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