River Ridge to Negotiate Sale of Largest Tract of Land
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The 6,000-acre River Ridge Commerce Center in Jeffersonville could see the development of a single business accounting for 10% of the property. The River Ridge Development Authority has given Executive Director Jerry Acy the go ahead to negotiate the sale of about 600 acres or more within the business park.
If the sale is successfully completed, it would be the single, largest land deal in the history of the 23-year-old complex.
The RRDA will not disclose any specific details of the entity other than to say Acy will continue conversations with a “confidential industrial or commercial prospect interested in purchasing the undeveloped land for a planned development.”
The RRDA says the potential purchaser has indicated the project would include constructing a build-to-suit industrial campus consisting of multiple facilities.
“This would be a significant project for River Ridge,” said River Ridge Executive Director Jerry Acy. “We’ve reserved the land at the megasite to accommodate major, transformational projects that require large parcels of land, and this project certainly meets that standard. We’re optimistic and look forward to bringing the project to fruition for the benefit of our entire region.”
The RRDA says the sale price of the land is $70,000 per acre, generating more than $42 million in funding for the authority and reinvested into the complex.
To date, about one-third of the business park has been developed.