Wesley Commons Retail Development
Back in 2012, First Savings Bank was looking for a new branch location.
They had already scouted and found a property that was ideal for their needs.All Creations
In 2012, First Savings Bank was looking for a new branch location in New Albany, IN. arc knew where a great location was, but the property was larger than they needed and really expensive.
The challenge for arc was: how can we buy this property while still getting the most return on investment?
We had an idea on where to begin – partner with First Savings Bank and do a joint, multi-tenant development.
The money obstacle was cleared. Now we needed to figure out how to tackle the site constraints. The property had issues with drainage of stormwater, but arc had the answer.
We reviewed the master plan for the region and identified plans for a regional detention basin nearby. The problem was that there was a residential area that stood in the way of access.
If you haven’t figured out by now, we don’t give up easily.
We worked with the residents and were able to acquire easements for drainage.
The plan worked.
Not only did First Savings get their new branch location, but the City of New Albany got a Bob Evans, AT&T, Tire Discounters, Qdoba, and VisionWorks. We also managed to build a Starbucks Coffee right next door.
The entire project was acquired, designed, developed, constructed, leased, and managed by arc.
Where others see the impossible, we see opportunity.