Boardwalk Pipelines taking preliminary steps toward relocating downtown, new hotel, residential units, and retail part of redevelopment project
OWENSBORO, Ky. (March 9, 2012) — Owensboro leaders today announced a $44 million redevelopment project planned for downtown Owensboro that will add a new hotel and retain more than 200 high paying corporate headquarter jobs in a new office downtown.
In addition to the Boardwalk office, the project will locate a new 120-room full service convention class Holiday Inn hotel on the west side of the newly planned convention center. Project developers Jack Wells and Matt Hayden from Riverfront Jam, LLC will incorporate residential and retail development along the riverfront and the west Second Street area.
The $44 million private investment is the latest project announced as a result of the market-based downtown plan, approved by Owensboro-Daviess County governments in 2009 resulting in $120 million in publicly funded infrastructure and amenities to reinvent downtown Owensboro as a walkable, mixed use urban center. A $20 million Hampton Inn and Suites will break ground on March 13. Over $76 million in public investment has already been announced.
The Owensboro region is experiencing a renaissance with economic development and infrastructure projects with a total of $1.5 billion in new projects, including a new hospital, a renovated airport terminal, and several transportation projects. Owensboro was among the top performing metropolitan areas in Kentucky last year in job growth.
As the Owensboro regional economic development agency, the Greater Owensboro Economic Development Corporation is a public-private partnership formed to create a diversified, sustainable economy generating wealth, quality jobs and improving quality of life of the Owensboro Metropolitan Region.
Boardwalk Pipeline Partners LP has come to a preliminary agreement with the Riverfront Jam, LLC developers to relocate the Owensboro office to a downtown. This relocation is subject to definitive agreements being entered into. The conceptual design is to lease a new two-story single tenant office building in the area near the new convention center and three blocks from the company’s original Owensboro location. The project entails a $12 million capital investment by the developer.