Eclipse Bank acquires land for new East End branch
Eclipse Bank Inc. has acquired 1.34 acres of land along Old Henry Road for the construction of its third branch location. The announcement comes less than a year after the opening of its second branch, at 400 North Hurstbourne Parkway.
The new full-service branch, at 13905 Promenade Green Way, will contain approximately 16,000 square feet across three floors. The building is expected to house retail, commercial and certain operations associates, as well as executive management, according to a news release. As with its other two locations, there will be a community room available for clients and nonprofit groups to use.
“We’re delighted to announce this strategic expansion into northeastern Jefferson County,” Andrew Pyles, president & CEO of Eclipse Bank and parent Eclipse Bancorp, said in the release. “The Old Henry corridor has seen explosive growth during the last few years, including the new Mercedes dealership, Galen College of Nursing, Thornton’s corporate headquarters, and numerous residential housing developments.
“We believe this site is highly complementary to our existing St. Matthews and North Hurstbourne locations, and it signifies our commitment to delivering our client-centric banking model throughout Louisville.”
The land is currently vacant. The new building will face Old Henry Road between High Wickham Place and Bush Farm Road. It’ll be across from the Thornton’s headquarters, which is on the other side of Old Henry Road. The purchase price for the land was about $1.4 million. And the seller was OREO 4 LLC, which is controlled by the owners of Schulte Hospitality.
Pyles said the entire project, including the land buy, is expected to cost just over $5 million.
John Hollenbach Jr. and Clayton Pitcock with Horizon Commercial Realty represented Eclipse on the purchase transaction. Hollenbach-Oakley will serve as project manager, with Donhoff Kargl Nall providing architectural services, the release said. Construction on the new branch is expected to start in early 2022, with completion coming in late 2022 or early 2023.
“Hollenbach Oakley and Horizon Commercial Realty are excited about this continued partnership with Eclipse Bank as we assist in their expansion in the Louisville market,” Greg Oakley, managing partner – Hollenbach Oakley Development & Horizon Commercial Realty, said. “In this particular case, we are thrilled to leverage our Brokerage and Project Management services to facilitate all due diligence and entitlement work in order to help deliver the finished product. This allows Eclipse Bank to focus on growing their business, while our teams collaborate to provide a turn-key resource in real estate and construction.”
Eclipse Bank Inc. is a wholly owned subsidiary of Eclipse Bancorp Inc. Eclipse Bancorp has approximately $290 million in assets and was incorporated in 2021 as a bank holding company. Eclipse Bank, established in 2005, offers an array of commercial, retail and mortgage products. The bank was named to Louisville Business First’s 2021 Fast 50 after seeing its revenue grow from $5.3 million in 2018 to $7.7 million in 2020. It was also among our Best Places to Work for 2021 honorees.