Gulfstream Commercial Services has officially leased out 100% of the buildings in Gateway Commons, but the company already has plans for additional development. In addition to a 150-unit apartment complex coming to the corner of Fairview Drive and Hayden Road, Gulfstream is in the early stages of adding two businesses in Gateway Commons.
New apartment complex
Though Gulfstream Chief Operating Officer Ed Ray said he wasn’t exactly sure how many units would make up the currently unnamed apartment complex, he said it would hold somewhere beyond 150 units.
The property — at the intersection of Fairview Drive and Hayden Road next to the TownePlace Suites by Marriott Owensboro — has already been rezoned to accommodate the complex.
According to Ray, the apartment complex will not be not located within the TIF zone, so all of the revenue will go directly to the City of Owensboro.
Current spaces all filled, new business coming
Burlington Stores opened Friday, leaving Buff City Soap and Kay Jewelers as the only businesses not yet open in Gateway Commons — although they should open this month.
Ray said filling all of the available spaces in Gateway Commons was a “huge milestone” for Gulfstream.
Already in operation in Gateway Commons are Chicken Salad Chick, Affordable Dentures & Implants, American Eagle, Nick T. Arnold Jewelers, Spectrum, Pet Supplies Plus, Hobby Lobby, Kirkland’s, Ross Dress for Less, Tuesday Morning, Shoe Dept. Encore, Gabe’s, 2nd & Charles, Burkes Outlet, American Freight.
Additionally, Malco Owensboro Cinema Grill & MXT anchors one end of the property.
Ray said Gulfstream has already broken ground on a new strip center in front of Malco. That development will include Limestone Bank, the first bank to be built in Gateway Commons.
The company is also in the design phase for a new building that will be located next to Pet Supplies Plus.
“There’s a lot of new things going on, a lot of moving parts,” Ray said. “We’re very excited about it.”
Expanding footprint
Last Thursday, the Kentucky Economic Development Finance Authority (KEDFA) also approved an amendment to the Gateway Commons TIF, broadening the footprint for the upcoming Fairview Drive expansion.
While the amendment doesn’t extend the area for additional revenue, Ray called the move a “recognition and endorsement by the state to continue [developing] where Fairview Drive is.”
With plans to expand development along the upcoming Fairview Drive extension, Ray said there’s a lot more to come from Gulfstream in the future.
“There’s a lot more in the hopper as we continue to try and be a good corporate citizen,” he said.
