Huntsville, Alabama, Mixed-use Downtown Development Project
Essex Capital Partners - through a joint venture with AscendAmerica called Rocket Development Partners - is leading a $325-million mixed use development that will transform downtown Huntsville, Alabama. The project, part of the comprehensive downtown master plan, will include residential, retail, office and entertainment uses at the former site of the Coca-Cola Bottling Company at 514 Clinton Street, along with improved pedestrian access, public transit, streetscaping and connectivity with the Von Braun Center
The first phase of the 13-acre, multi-phase project includes 500 fully amenitized apartment units; 40,000 square feet of prime retail space with restaurants, shops and entertainment; 200,000 square feet of Class-A office space, as well as a 100-room hotel and an 800-space, multi-level parking garage, open space and a surface parking lot.
General site work is expected to conclude in the second quarter of 2022, followed by construction of the multifamily properties, retail space, open space and parking lot. Construction of the parking garage and the hotel and office components are expected to be completed in 2025.
The Huntsville City Council has fully approved the project, which has been embraced by the local community. Huntsville Mayor Tommy Battle said: “This is a great opportunity to turn vacant property into new and unique places for people to eat, shop, stay the night and live. It’s an exciting project that will attract citizens and visitors alike, which will benefit Huntsville for years to come.
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