HUNTSVILLE, AL | NOV 14, 2012–Boeing [NYSE: BA] is moving to a new office complex near the U.S. Army’s Redstone Arsenal and NASA’s Marshall Space Flight Center in Huntsville as the company consolidates several of its locations in the area. The move to Redstone Gateway reflects Boeing’s commitment to managing costs and increasing competitiveness for growth.
MONTGOMERY, AL | OCT 10, 2012–Three schools and one in the making are reaping the benefits of the recent opening of Park Crossing in east Montgomery. Deputy Mayor Jeff Downes called the three-mile corridor that connects Ray Thorington Road and Taylor Road a safer, more convenient travel option. Its opening affects the traffic of Wilson and Blount Elementary Schools and Carr Middle School. Park Crossing High School, which is scheduled to open in 2013, is also located on the new road. The new road overrides the portion formally known as New Park Drive.
Downes said the city has big hopes for the area after a University of Alabama study projected 25,000 people will move into the area in the coming years. “That’s like picking up the city of Prattville and sitting it in east Montgomery,” he said, calling the development one of the city’s next greatest projects. “It will be a very attractive road that all of Montgomery will be proud of.” Although public access is now permitted, the road is not complete.The public-private partnership project involves the city and local developers Aronov, Alfa, Wilson, and Hampstead. The road will feature pedestrian and bike routes that promote safe and healthy lifestyle choices for the residents of the projected 13,500 dwelling units.
Montgomery Public Schools Superintendent Barbara Thompson said it will take a few years to see what the growth will require of the school district, but she projects a new elementary and middle school will eventually be needed. Wilson, Blount and Carr have all nearly reached capacity. For now, the road opening means a time and gas savings for families who live on Taylor Road, as well as the school district. “It should take care of a lot of the traffic we currently have trying to get their kids to (those schools),” Thompson said. “It will save a lot of people a lot of time.”
Upon completion, Downes said the corridor’s price tag will be nearly $7 million dollars, nearly 80 percent of which developers will reimburse the city. He said the infrastructure matched with the area’s projeced growth equals a recipe for success and rapid economic development.
This article was written by Tiffany Nabors for The Montgomery Advertiser on October 9, 2012.
BIRMINGHAM, AL | AUG 07, 2012–Contractors began work today on a redevelopment project at Hoover’s Riverchase Galleria, a sweeping set of plans that are expected to cost at least $60 million and rejuvenate the 26-year-old shopping mall, which is Alabama’s busiest. This morning, work began on upgrades to the center court restrooms, which will be modernized, repaired and enlarged. The renovations are expected to take up to three months to complete, said Christopher White, the mall’s marketing manager. Other improvements will include relocation and upgrades for the center court elevators and a new public restroom in the JC Penney wing. Also, in the center court, new aesthetic architectural elements are planned, while entrances to the mall and pedestrian bridges will be updated, too. The entire project is expected to last 12 to 15 months.
PRATTVILLE, AL | AUG 20, 2012–BVCV High Point, LLC (BVCV), a joint venture of Clearview Investments, Ltd., from Dallas, Texas, and Ball Ventures, LLC, from Idaho Falls, Idaho, acquired High Point Town Center earlier this year. This group looks to invest in select properties across the country and maintains a distinguished portfolio of investments. Together, Clearview Investments and Ball Ventures have teamed together to target opportunistic investment projects. For BVCV, High Point Town Center is an excellent investment opportunity with over 481,000 square feet of retail space on over a 100 acre site that includes 38 acres of developable land for apartments and additional projects, and 12 outparcels.
MONTGOMERY, AL | MAY10, 2012–Clearview Investments, Ltd. (Clearview) announces the acquisition of High Point Town Center in Prattville, Alabama, and the appointment of Jim Wilson & Associates, LLC (JWA) as the property manager, leasing and sales agent for the project. High Point, a retail project anchored by Belk, JCPenney, Publix and Best Buy, was constructed and initially opened in 2008, with over 175,000 square feet of specialty store space for lease, over 20,000 square feet of available office space, 12 outparcels for sale or lease and a 38 acre adjacent site for development.
CHICAGO, IL | MAR 12, 2012–Riverchase Galleria today announced the addition of Von Maur department store to its signature retail line-up. Alabama’s number one shopping destination located in the city of Hoover, Riverchase Galleria also unveiled plans to refresh the property through expansive updates, modernizing and enhancing both the interior and exterior of the property. Scheduled to begin in 2012 and be completed in 2013, other improvements include: relocation and upgrade of Center Court elevators to enhance sight-lines and provide better customer service; installation of aesthetic architectural elements including pendant fixtures and “sails” with accent lighting throughout Center Court; upgrade and modernizing mall entrances and pedestrian bridge entrances; parking deck improvements; and the expansion of Center Court restrooms. The new landscaping and way-finding signage will be indigenous and complementary of the surrounding Riverchase and Hoover communities.
BIRMINGHAM, AL | JAN 18, 2012–RockBridge announced a preferred equity investment to recapitalize and reposition the 329-room, full-service Wynfrey Hotel in Birmingham, AL (the “Wynfrey” or the “Hotel”). The Hotel will undergo a comprehensive multi-million dollar renovation, after which it will be reflagged as The Hyatt Regency Birmingham – The Wynfrey Hotel. The developer of the Hotel and the adjoining Riverchase Galleria and Galleria Tower, Jim Wilson & Associates, LLC, retains an ownership interest in the project. Davidson Hotels & Resorts has managed the landmark property since 2009 and facilitated the transaction and branding on behalf of ownership. James T. Merkel, President and CEO of RockBridge, made the announcement.