JEFFERSONVILLE, Ind — Cast Iron Steakhouse is one of the very few restaurants on the riverfront intersection at Market and Main Streets in Jeffersonville, Indiana.
They're a stone's throw away from Jeffboat, the historic shipyard that will be turned into a mixed-use development.
The project just got $6.5 million richer.
"There's a lot of upside," said Jim Richards, owner of Cast Iron Steakhouse. "I think it's going to be great for the community, for the city and obviously for us: we're right across the street."
Jeffersonville Mayor Mike Moore said "we hit the lottery."
Moore said the money is state funding through a grant called READI 2.0. READI, or the Regional Economic Acceleration and Development Initiative, allocated $45 million to Southern Indiana projects centered around population growth. The Southern Indiana Regional Development Authority announced the funding on Dec. 6.
"This is a huge win for us and even in Louisville," Moore said. "What's going to happen right here, everybody in the WHAS newscast viewing area has something to celebrate."
Jeffboat is a multiyear, $1 billion project. Renderings released from the American Commercial Barge Line show residencies, businesses, restaurants and greenways.
Moore said construction will start in 2025, but it will be under-the-ground infrastructure like filling the 100 acres with dirt and installing sewage.
"As you drive by Market Street, you probably aren't even going to notice the work has been done," Moore said. "But, that's what it takes to build something special."
Richards said he thinks he'll see impacts far before the ribbon cutting.
"You have the construction crews in here in the meantime," Richards said. "There's going to be a lot of people coming through once they start breaking ground and cleaning it up. It'll be busy."
It will take at least 10 years to complete, but the mayor already knows what it'll be.
"I do see a beautiful boardwalk along the Ohio River with restaurants, people living here, people working here," Moore said. "It's a separate village all in itself."
Thrive Companies was named as the developer this summer. CEO Kevin Zeppernick said in a statement:
“Thrive is incredibly grateful for the economic support the State of Indiana and the City of Jeffersonville has shown for the transformative Jeffboat project. We have a significant number hurdles to still overcome to make this project a reality, but this is a huge step in the right direction. Nothing makes our company more happy and proud than being a part of this kind of mixed-use development that brings more prosperity and vibrancy to an already great region.”
Moore said buildings will start going up in 2026, but for now, they're focused on funding.
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