JEFFERSONVILLE, Ind. (WDRB) -- More than five years after Jeffboat launched its final vessel on the Ohio River, the public is getting a look at the transformative project that will bring the city's past into the future.

The property, which is at least 80-acres and 1-mile long, sits on East Market Street, just outside of downtown Jeffersonville. The land is owned by American Commercial Barge Line (ACBL), but has sat empty since Jeffboat's closure in April 2018.

The shipyard is what helped build the city of Jeffersonville around it. The closure of the shipbuilder and major employer marked the end of a 189-year history of building barges in southern Indiana. 

Now, something that was so instrumental to the city's past is set to become a cornerstone for its future, and it comes with a nearly $1 billion construction cost.

Dozens of neighbors packed into the Carriage House at the Howard Steamboat Museum on East Market Street in Jeffersonville Thursday evening to get a look at the developer's final framework for redeveloping the site. 

The plans include a hotel, hundreds of residences, restaurants, an amphitheater, fountains and more, all with a waterfront view. 

"Well I think it'll be fabulous," said Petsy Thacker, who lives near Jeffboat.

Many of those in attendance walked away excited, saying it's great for the city and will give residents another place to walk and enjoy the waterfront.

"I'm excited to see the waterfalls and keeping the actual buildings. The buildings that are there, the history," said Jeffersonville residents James and Kimberly Newbolt.

Mayor Mike Moore compared the excitement surrounding the design to the birth of his first grandchild.

"It may not be that level, but it's pretty close," said Moore. "If this don't make you happy, you might as well give up."

The land, once home to the largest inland shipyard in America, will soon become an entertainment district, with more than 400 apartments, townhomes, condos and a marina.

IMAGES | An aerial view of the former Jeffboat site in Jeffersonville

"It's been a long journey," said George Piccioni, senior director for business development at ACBL. 

Piccioni said the designs unveiled Thursday are the framework for the property, and include something for everybody.

"Whether it's restaurants, entertainment, green space, walkways, offices," he said.

Right now, ACBL is searching for a master developer and, during the next year to two years, they will work on permitting, final design and engineering.

"We're nowhere near done," said Piccioni. "But we're a lot further along than we were."

He expects construction to begin toward the end of 2025 on the first phase of the project. That will likely cost more than $500 million.

"There's a lot of people with deep pockets, and they're looking for somewhere to put it," Moore said. "And little old Jeffersonville is gonna be the one that benefits from it."

The Newbolts, who live right by the Jeffboat property, said they do worry about the potential loss of small town charm in the area, and the impact on traffic.

"But hey, gotta keep an open mind, right?" said Kimberly Newbolt.

With an open mind for open land, and prime real estate right on the Ohio River.

There will be a lot of new infrastructure needed to support the project, including sewer lines, sidewalks and roads. Moore said the city is looking at options, which could include forming a TIF district to help pay for those projects.

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