Bill Weyland, founder of Louisville-based Weyland Ventures, said the opportunity to collaborate on transforming the former Colgate-Palmolive property in South Clarksville is "one of those dream projects."
His firm came onboard with property owner Clarks Landing Enterprise Investments last year, and has spent months working with local officials to hone a vision to bring the former industrial site, which once housed a state prison, back to life.
Plans for "Clockworks," named after the giant, historic clock on-site, include hotels, a conference center, outdoor food amenities and spaces for youth sports training.
The estimated $400-$500 million project is Weyland's first in Southern Indiana. He said he was drawn to the potential — more than 50 acres, close to Louisville, with beautiful old buildings steeped in history.
"[It's] just layers of opportunity that just honestly seemed like it was made for us," Weyland said this week.
Weyland Ventures is behind major historical renovation projects in Louisville including Whiskey Row Lofts, the Louisville Slugger Museum & Factory, the Henry Clary Building and work in the NuLu neighborhood.
The site's history
The site's origins go back to 1847 with Indiana Prison South, one of the state's first. The property later became a reformatory, then Colgate & Company bought it in 1921. The campus reopened as this new industrial site in 1924, with the iconic clock first illuminated that year.
Colgate ceased operations there in 2008. Clarks Landing took over in 2014.
"The Colgate site has been part of Clarksville for over a Century. Through industry, through change, through the quiet years when the work stopped but the walls stood firm and the clock tower kept watch over a community that never stopped believing something was still possible here," according to a presentation from Weyland Ventures.
There hasn't been major movement at the site in years, and previous development efforts by the owner did not come to fruition.
Last year, Clarksville officials settled a drawn-out eminent domain case in federal court , with the agreement including that the property owner was working with Weyland Ventures on the site.
"The reality was that these buildings were incredibly built," Weyland said. "I've been in far worse, and we've saved far worse. These are actually very solid buildings, and that's a blessing. So I'm excited about where they are and how they can be restored."
The south side of the campus, including the building with the clock, sits along South Clark Boulevard, and at the top of what's now Main Street in South Clarksville.Weyland said this puts the Clockworks campus as the northern anchor to Clarksville's downtown.
Big plans
Weyland said the project will be driven by private funds, augmented by historic tax credits they're seeking, as well as working with the town to get additional tax increment financing for the site, which would allow the developer to recoup some future property taxes.
Phase one of the plan includes restoring the building with the clock into a history center, and creating a hotel and mixed-use space with housing and a rooftop deck, parking and an exhibit hall.
The firm has been in talks with SoIN Tourism on plans for a conference center at the western edge of the site. That's where Weyland said he thinks the bulk of public investment would come in, along with town investment in infrastructure within the site.
Plans also include an open-air market and outdoor eating and gathering amenities, as well as youth sports training facilities, such as soccer fields, basketball courts and volleyball courts.
"This is a 600-foot-long building," Weyland said, of one of the spaces for sports. "In Louisville, if I plopped it down, it would be a block and-a-half."
Barry Alberts, project manager for Weyland Ventures, praised the town's investment in infrastructure.
"What the town has done really well over the past 10 years or so in developing and creating this South Clarksville new downtown is they've incentivized development — private development — by creating TIFs, which is fine, but they've also put in the roads and the public open space first, because you need that in order to have access for a project," he said.
The main piece of the project is around 40 acres in what was the Colgate plant site. Developing it is estimated to take up to a decade. Weyland said his group has additional plans — a hotel and mixed-use space across South Clark Boulevard, and development north of Montgomery Avenue — that will bring the entire buildout closer to 12-15 years.
Jim Epperson, executive director at SoIN Tourism, said the organization's board of directors has endorsed the site as the preferred spot for a conference center. A consultant for SoIN Tourism is working with the town, developer and owner on details of what it could look like.
They're "Still working on what it takes to get this built from a financial standpoint," Epperson said.
He foresees a tourism advantage to adding a conference center to a property that already has a story.
He said seeing the plans, specifically what the site looks like now compared to what it could be, is the "wow moment" for him.
"I think that's incredible vision for the kind of place that just draws people," he said. "I love the concepts that are included in that."
Tammi Gibson, Clarksville's economic development director, said in an email she's glad the town has been able to forge a positive relationship coming out of settlement.
"I cannot be happier that Weyland Ventures is working on the development plans," she said.
She said the team has engaged the town with ideas, plans and development requirements and been clear about their intent to honor the site's historical aspects.
Weyland said the next steps include working with the town on public improvements and tax increment financing, collaborating with tourism partners, negotiating with prospective tenants and securing historic tax credits.
Gibson said the Clarksville Redevelopment Commission approved a resolution last month supporting funding toward redevelopment, although the development plan itself does not need approval.
Next, Weyland would need to formally request a TIF designation specifically for the project area so that it could request funding for infrastructure. Any part of the project seeking TIF would require town approval.
The Clarksville Town Council also approved a resolution Tuesday night conveying their support for the project, which could help the team secure pre-development funds from the Indiana Economic Development Commission.
Weyland told the council Tuesday he hopes to be able to start phase one in the first quarter of 2027, but hopes they can start site work sooner.
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