05-28-2006, 10:33 PM
Southside may get two hotels, new retail
Wednesday, May 24, 2006
MICHAEL TOMBERLIN
Birmingham News staff writer
A developer plans a $25 million hotel and retail project for the former Tom Williams Cadillac site near UAB and is drawing up plans for a separate project costing as much as $125 million that would bring a hotel, shops, restaurants, offices and condos to a nearby city block.
The Birmingham City Council on Tuesday approved incentives valued at nearly $2.5 million for Corporate Realty Development, paving the way for the projects that could transform a stretch along 20th Street, which is regarded as downtown's main artery.
"It's pretty exciting development, filling that space between the traditional downtown and UAB," said Michael Calvert, president of Operation New Birmingham, a redevelopment agency.
Corporate Realty officials said the project at the old Tom Williams site calls for a limited service hotel rising up to six stories with as many as 160 rooms. They say there would be retail and restaurant space on the ground floor and possibility of additional commercial space such as offices. Talks are already under way with a hotel operator that could affiliate with a well-known industry name.
"It would be a welcome addition to UAB and the downtown area," said Jimmy Holloway, an official with Corporate Realty, which is known for the $10.4 million makeover of the Jemison Flats building, one of downtown's largest condominium projects.
The site, which sits on the northwest corner of 20th Street and Fourth Avenue South, was home to the former Tom Williams Cadillac dealership and a parts building before the Williams dealerships moved to Irondale.
City officials approved a plan Tuesday to spend up to $375,000 to demolish the parts building and help construct a new entrance to the parking deck on the same block.
That deck currently services the Liberty National building and has plenty of capacity for those in the new development, Holloway said.
More major plans:
Corporate Realty has even bigger plans for the entire block between First and Second avenues South and 20th Street and Richard Arrington Jr. Boulevard, a block that houses a Birmingham Water Works payment center, a Kinko's copy center and a hot dog restaurant.
Robert Simon, the firm's principal, said Corporate Realty's plans could include a building as tall as 16 stories on the site, which could feature a full-service hotel, condos, office, restaurants and retail space.
The city agreed Tuesday to buy the property for $2.1 million and lease it to Corporate Realty for $10 per year with an option allowing Corporate Realty to purchase it at an appreciated price.
Master planning for both projects is being handled by Giattina Fisher Aycock Architects Inc.
Development could be under way on the former Tom Williams site by year's end.
Simon said the developments will work in concert with Corporate Realty's planned $40 million condominium project, The Standard, slated for the corner of First Avenue South and 18th Street. That project coincides with the planned Railroad Reservation Park the city is helping develop along First Avenue South.
"When you figure in construction times, having these projects coming together at the same time creates the synergy we're wanting to achieve," Simon said.
The city's approval Tuesday also included recognition of Corporate Realty's $5.3 million redevelopment of the former Rogers Trading Co. building at 2500 First Ave. North. That building will house Intermark Group's Vazda Studios and other firms once work is completed.
Carol Clarke, economic development director for the city, said city officials saw their investment as minimal compared to what the city stands to receive from the developments.
"It's exciting to us that we could realize major development in four different areas of the city," Clarke said, referring to Corporate Realty ongoing and planned projects.
E-mail: mtomberlin@bhamnews.com
Wednesday, May 24, 2006
MICHAEL TOMBERLIN
Birmingham News staff writer
A developer plans a $25 million hotel and retail project for the former Tom Williams Cadillac site near UAB and is drawing up plans for a separate project costing as much as $125 million that would bring a hotel, shops, restaurants, offices and condos to a nearby city block.
The Birmingham City Council on Tuesday approved incentives valued at nearly $2.5 million for Corporate Realty Development, paving the way for the projects that could transform a stretch along 20th Street, which is regarded as downtown's main artery.
"It's pretty exciting development, filling that space between the traditional downtown and UAB," said Michael Calvert, president of Operation New Birmingham, a redevelopment agency.
Corporate Realty officials said the project at the old Tom Williams site calls for a limited service hotel rising up to six stories with as many as 160 rooms. They say there would be retail and restaurant space on the ground floor and possibility of additional commercial space such as offices. Talks are already under way with a hotel operator that could affiliate with a well-known industry name.
"It would be a welcome addition to UAB and the downtown area," said Jimmy Holloway, an official with Corporate Realty, which is known for the $10.4 million makeover of the Jemison Flats building, one of downtown's largest condominium projects.
The site, which sits on the northwest corner of 20th Street and Fourth Avenue South, was home to the former Tom Williams Cadillac dealership and a parts building before the Williams dealerships moved to Irondale.
City officials approved a plan Tuesday to spend up to $375,000 to demolish the parts building and help construct a new entrance to the parking deck on the same block.
That deck currently services the Liberty National building and has plenty of capacity for those in the new development, Holloway said.
More major plans:
Corporate Realty has even bigger plans for the entire block between First and Second avenues South and 20th Street and Richard Arrington Jr. Boulevard, a block that houses a Birmingham Water Works payment center, a Kinko's copy center and a hot dog restaurant.
Robert Simon, the firm's principal, said Corporate Realty's plans could include a building as tall as 16 stories on the site, which could feature a full-service hotel, condos, office, restaurants and retail space.
The city agreed Tuesday to buy the property for $2.1 million and lease it to Corporate Realty for $10 per year with an option allowing Corporate Realty to purchase it at an appreciated price.
Master planning for both projects is being handled by Giattina Fisher Aycock Architects Inc.
Development could be under way on the former Tom Williams site by year's end.
Simon said the developments will work in concert with Corporate Realty's planned $40 million condominium project, The Standard, slated for the corner of First Avenue South and 18th Street. That project coincides with the planned Railroad Reservation Park the city is helping develop along First Avenue South.
"When you figure in construction times, having these projects coming together at the same time creates the synergy we're wanting to achieve," Simon said.
The city's approval Tuesday also included recognition of Corporate Realty's $5.3 million redevelopment of the former Rogers Trading Co. building at 2500 First Ave. North. That building will house Intermark Group's Vazda Studios and other firms once work is completed.
Carol Clarke, economic development director for the city, said city officials saw their investment as minimal compared to what the city stands to receive from the developments.
"It's exciting to us that we could realize major development in four different areas of the city," Clarke said, referring to Corporate Realty ongoing and planned projects.
E-mail: mtomberlin@bhamnews.com
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