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John Young’s plan to build a 336-unit apartment complex represents one of the most ambitious building projects ever in New Albany.
Young, a local builder and developer with a keen eye for market trends, thinks the New Albany market is preparing to soar. And he’s moving quickly to try to get a jump on competitors.
“I’m very bullish on New Albany,” Young said. “This project will be successful and there will be a lot more development coming in.”
The first phase of 64 units in the complex, to be called Park Place and built on Bratton Road, is expected to open for tenants by November or December.
The multi-million-dollar complex, which will have a gated entrance, will include, one, two and three-bedroom units and a community building with a business center, fitness center, swimming pool and other features.
The development will be the first large-scale, higher-end apartment community in New Albany, and represents a major investment both by Young and his lender, BNA Bank.
The lack of quality rentals often is a topic of conversation in our community. The lack of enforcement of minimum standards for rentals has caused New Albany to have a higher percentage of low quality rental housing than many communities our size.
We applaud Young and the area’s community bank for their efforts to make this project a reality.