Huntsville – According to the statement, this agreement will bring more apartments, a 100-room hotel and retail outlets at a long-vacant downtown spot near the Von Braun Center.
The city reached an agreement with Rocket Development Partners LLC, which has long held an option to develop the former site of the Coca-Cola Bottling Company on Clinton Avenue.
The development will also include 40,000 square feet of Class A office space and restaurant space among a minimum of 26,000 square feet of retail space.
The project will also include a 800-space parking garage.
he project will be completed in three phases. The apartments, calling for 400 units, and retail space will be included in the first phase while the hotel will come in the second phase and a surface parking lot while the final phase will have office space and the parking garage.
The site covers 13 acres and is the largest available site within the central business district, according to Davis.
Construction will begin in the fall of 2022 on phase one.
The city is investing $18 million over multiple phases. The project is expected to generate $43,740,000 million over 10 years.
