Eastern Boulevard Redevelopment
This is one of the most rewarding projects arc has ever had the chance to be a part of.
In this case, arc was actually the client. What made it unique was the fact that we purchased the property, we developed it and then we redeveloped it.All Creations
This is one of the most rewarding projects arc has ever had the chance to be a part of. What made it unique was the fact that we purchased the property, developed it, and then redeveloped it.
The story began in the fall of 2011 when arc was approached by the Town of Clarksville, Indiana, and was asked to assist with the redevelopment of the Eastern Boulevard Corridor. Clarksville had already invested millions in public infrastructure with the hopes of bringing the area back to life. They now needed help identifying which opportunities were available for redevelopment of the area; so, they hired arc to assist with a corridor study and master plan.
In the study, arc identified that the Value City property had by far the most potential for redevelopment. The property encompassed 34 acres total, which included nearly 8% of the overall road frontage of Eastern Boulevard.
After executing the contract, arc scheduled the meetings and went to work. We provided a detailed plan to the current owners of the property and explained how a redevelopment project could benefit all involved. They loved everything about the presentation, but were not interested in the redevelopment of their property due to its age and condition.
Where others see obstacles, arc sees opportunity: we jumped in and offered to buy the property outright so we could execute the redevelopment ourselves. The owners were reluctant to sell because of current issues with the property. Once again – another opportunity. We told them we would take the property as-is, clean it up and have it ready to close quickly.
45 days later, the deal was done.
Now this is where the story really gets interesting.
We knew Clarksville was interested in the back 11 acres of the property; so, we proposed selling it to the Town at a discounted rate. In exchange for their purchase, we agreed to re-invest the money back into the development.
We then negotiated deals with Dollar General, Fresenius Medical Care, Fantastic Sams, Little Caesars Pizza, Subway, and SVS Vision.
We were just getting started.
We then managed to help negotiate a deal that would allow the Clarksville Community School Corporation to build a new technology based school (Renaissance Academy) on land donated by the Town of Clarksville.
All of this came from one deal. What a wild ride!!
The only thing better than a rewarding project is one that gives back to the community, as well.