Commercial Properties Development Corp. will build a downtown tower that will house Regions Bank's local headquarters, a parking garage for downtown and new housing. Called Laurel Towers/Regions Financial Centre, the tower will top out at about 240 feet and 19 stories. The building is slated for the corner of Laurel and Fifth streets, now the site of a parking lot. For an undisclosed sum, Commercial Properties is buying the New Richmond Apartments, which will be demolished for the development. The building will include 640 parking spaces occupying 10 floors. Regions will have a branch on the main floor and occupy two floors. And there will be about 28 new condominiums in the project.
heres a rendering of the Laurel Towers/Regions Financial Centre
