NEW RESTAURANT AND OFFICE SPACE COMING TO MARKET STREET

NEW RESTAURANT AND OFFICE SPACE COMING TO MARKET STREET:

A $3 million investment into an innovative, 12,000 square foot mixed-use property was proposed to the New Albany Redevelopment Commission at their meeting this afternoon by business partners Juan Segoviano (Owner of La Catrina and Senor Iguanas) and Jeff Shireman (Owner of Shireman Construction and Shireman Real Estate and Development). The proposed development will be the new headquarters for Segoviano’s five independent restaurant businesses, and will include a new La Catrina restaurant on the first floor with a large patio and streetscape, an additional 1500 square feet of street level retail space, and a second floor with either additional office space or 8 new apartment units.

“Congratulations to Mr. Segoviano and his family for their success in New Albany,” stated Mayor Jeff Gahan. “We are honored to assist with his expansion and help him grow his business, and to allow him to serve more people in our city and community.”

The development was proposed for the old federal parking lot site (nearly half an acre) located at the corner of Scribner and Market streets in downtown New Albany. The project is expected to bring 30 temporary full-time employees during construction, as well as an additional 40 full-time employees filling the second-floor office space after construction. The project is also expected to net about $40,000 in additional revenue for the City of New Albany through annual property taxes, income taxes and related economic activity.

Shireman Construction has completed multiple recent projects in New Albany, including the new $15 million Optum Health Center in the Purdue Research Park off Charlestown Road, a $15 million addition to the Floyd County Jail, and Shireman was the general contractor for the New Albany YMCA during its construction.

The proposal was accepted by the New Albany Redevelopment Commission pending final legal review.