Enterprise Park, composed of about 35 acres of tillable land just north of the Putnam County Airport, has caught the eye of at least one potential buyer seeking to locate a business in Greencastle, spurring city officials to action.
Bill Dory, director of the county's economic development center, approached members of the Greencastle Plan Commission Monday night with a preliminary plat for the land which they approved by a vote of 10-0.
Members of the Greencastle Redevelopment Commission are the owners of the property and are seeking to develop it prior to anyone buying it from the city.
"We have had a couple of inquiries, so that is stirring us to move forward," Dory told the board.
The property has been divided into seven separate lots, six of which are around 4 acres in size, and the seventh being slightly more than 11 acres. The first lot is located on the southeast corner of Ind. 240 and Ballard Lane and the last is just north of the airport hangars. All the lots are located on the driveway leading into the airport.
Dory would not say who was interested in purchasing the property, however, he told the plan commission that he and members of the Redevelopment Commission believe it is in the best interest of the city to move ahead with subdividing the property to aid in future sales.
Dory said the lots would be best suited for buildings that are 5,000 to 15,000 square feet in size with one being ideal for an aircraft hangar. He also said buyers could possibly seek permission from the airport board for access to the runways.
The property already has most of the utilities it would need to be developed, including water, telecommunications and electricity, however, Dory said the city will have to install sewer lines. He said the Redevelopment Commission has the funds to make that happen.
Members of the Redevelopment Commission will meet Wednesday evening to discuss proposals they received for purchase of at least one of the lots in Enterprise Park, Dory said.
"Potentially we see some opportunity and it makes sense to go ahead and develop this," Greencastle Mayor Nancy Michael said in support of developing the property. "Certainly this project adds to the availability of what we have for clients here in the community."
Meanwhile, Arizona-based Sandor Development has an option to purchase the property on the west side Ballard Lane for a future retail center.
Company officials told the BannerGraphic last month that they are seeking potential tenants, including a home improvement store that would anchor the shopping center just east of the Wal-Mart super center.