JEFFERSONVILLE, Ind. (Jan. 27, 2021) – The first office building under construction at the River Ridge Commerce Center’s Gateway Office and Research Campus has reached a major milestone, topping out its steel frame. Construction on the project remains on schedule to be completed by fall of this year.
Louisville-based Hollenbach-Oakley is the developer of the Class A office building, and Kelley Construction is the general contractor.
The River Ridge Development Authority (RRDA) selected Hollenbach-Oakley in late 2018 to serve as the master developer for a new Gateway Office and Research Campus. The first phase of the office campus is being developed on 300 acres reserved by the RRDA to help attract higher-wage jobs to Southern Indiana.
“This is a transformational time for River Ridge,” said River Ridge Executive Director Jerry Acy. “It’s wonderful to see so much progress happening at our new Gateway campus – with the first building reaching its peak just above a recently completed, 5-acre lake. We can’t wait to see it all completed.”
The first building, known as Gateway Office One, is a three-story, 45,000-square-foot office building. Hollenbach-Oakley is investing more than $12.3 million in the project. Gateway Office One is the first of several Class A office buildings that will be developed in the campus in the coming years.
River Ridge has invested in development of roads, bridges and utilities as well as creating park-like features such as a 5-acre lake, walking trails and an amphitheater. This work is part of the $120 million in infrastructure investments throughout the Commerce Center.
The RRDA agreement with Hollenbach-Oakley allows the firm to develop up to 600 acres at River Ridge, near the first interchange off State Road 265 near the new Lewis and Clark Bridge. The development would be completed in two phases.
“This is an amazing project with first-class amenities in a scenic setting just minutes from downtown Louisville,” said Dustin Coffman, Director of Commercial Development for Hollenbach-Oakley. “River Ridge’s Gateway office park is unlike any other development in the region, offering lakeview sites, secluded headquarter campus opportunities and interstate visible sites near the Lewis & Clark Bridge.”
More growth expected at River Ridge
During its monthly meeting this month, the River Ridge Development Authority approved a resolution to allow Executive Director Jerry Acy to negotiate the sale of 15.4 acres within the River Ridge Commerce Center (RRCC) to an industrial or commercial prospect. The land is located at the northeast corner of Paul Garrett Avenue and Patrol Road.
With a sale price of $110,000 per acre, the land deal would generate about $1.69 million in funding for RRDA. The funding would be used for operations and further development to attract companies and jobs to Southern Indiana.
The potential purchaser will remain undisclosed during negotiations, but the firm has indicated it would like to purchase the land to construct an industrial building with 100,000 to 200,000 square feet.
“This is a great way to start the year, with a new prospect that could bring significant jobs to River Ridge,” Acy said. “This should be another banner year for the Commerce Center.”
About the River Ridge Development Authority
The River Ridge Development Authority manages the River Ridge Commerce Center, a 6,000-acre business and office park established in 1998 to replace lost economic activity from the closure of the Indiana Army Ammunition Plant. The Authority has invested more than $120 million to redevelop about 35 percent of the Center. River Ridge is home to more than 60 companies, such as Amazon, Bose, Collins Aerospace, Enjoy Life Foods, Medline, Optum and Tenneco. Onsite employment totaled more than 10,500 in 2019, and the Center produced a total of $2.5 billion in economic output and supported more than 16,900 regional jobs. The investments and growth at River Ridge recently earned the RRDA the International Economic Development Council’s Gold Award for Real Estate Redevelopment and Reuse.