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  #161  
Old Posted Dec 11, 2005, 1:46 PM
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Kia

We really don't know if they ever intended to locate in Meridian, or if they were using the announcement/leak to gain future leverage (incentives) from the community/state they really intended to build in.

Just like back in the 1970's with the NFL. Whenever a team owner wanted a new stadium, or something like that, he would threaten to move to Birmingham or Memphis or Jacksonville. The ploy always worked.
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  #162  
Old Posted Dec 12, 2005, 3:01 AM
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^^ exactly. That's why it's so funny that they would use the excuse about Meridian's population in order to "up the ante" in negotiations. Lots of companies do it all the time. But saying they didn't know Meridian's population just sounded kinda' lame.
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  #163  
Old Posted Dec 16, 2005, 2:36 PM
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Quote:
Montgomery: A downtown reborn

By David Irvin
Montgomery Advertiser


The building that houses First Tuskegee Bank is close to being sold and could be turned into a hotel for convention-goers, yet another sign that real estate experts say points to the rejuvenation of downtown.

The possible sale of the 10-story Commerce Building was confirmed Thursday by Hank Escaravage of Statewide Realty, who represents the owners.

Escaravage would not reveal the potential buyer but said the sale -- if it happens -- would be within the next six weeks.

Conversion of the building into a hotel would support the massive convention center project across the street, according to economic development specialists and other real estate agents in the area.

If it happens, the refurbishment would mirror other nearby redevelopment projects.

"I think the advent of the baseball park, along with the redesign of the Civic Center, are the catalysts for the development," said Sam Adams, a developer who is building lofts and retail space downtown. "It's just the natural fallout."

The Commerce Building, once a hotel, is largely vacant.

Restoration work

One of the few offices in the Commerce Building is occupied by Randy Roark. Regardless of whether the Commerce Building is sold, Roark is leaving by spring.

He has joined a growing group of developers restoring century-old buildings. Much of the development is happening in the area of Coosa, Tallapoosa, North Court and Bibb streets.

Roark's building at 121 Coosa Street was constructed by the Schloss and Kahn grocery company in 1895. It has seen floods, fires and other neglect in its 110-year history, but Roark believes it will become premium office space when the renovation is done.

"You're not going to find buildings built like this anymore. They can't afford the materials to do it," said Roark, pointing toward the hard pine rafters.

Adams agrees. His loft apartments are renting for between $1,000 and $2,500 a month.

"I'm one of the ones who stuck his neck out to see if this thing was going to work, and I've been very pleased with the initial response of people wanting to rent my units," Adams said.

An eye doctor has agreed to set up shop in his first floor retail space, he said.

Increased interest

Mayor Bobby Bright and many of the developers credited the $157 million convention center, hotel and performing arts center project with the increased interest in downtown. The project is also generating ideas about how to use existing space in nearby streets and alleys.

Daniel Hughes, CEO of Summit America, refurbished and moved into the Winter Loeb building on Tallapoosa Street, across from Biscuits Stadium. Next to the building where Hughes does business, there is a long and wide alley once used by freight trains to deliver goods to the warehouses.

"There is an effort that the River Front Foundation is working with the city, to renovate this historical ally ... into a retail and commercial development," Hughes said. "We are certainly a supporter of that and would like to see it come to fruition."

The plan is to create a vibrant shopping area so convention attendees will have someplace close go when they leave the hotel. A 350-space parking deck on Coosa Street has also been proposed.

There are some, however, who think development will take a different turn. Willy Lassic, a warehouse worker for Bishop-Parker Furniture on Coosa Street, said he has worked in the area for 10 years.

"I've seen a lot of work and construction going on around where I'm standing," he said. "But you see, a lot of these probably won't be around in five or 10 years," he said, pointing at a building with broken windows. "If they tear it down, it will probably come out better."

Developers disagree, arguing new construction would be expensive and would kill the area's ambiance.

But Bright said late Thursday he worries downtown revitalization will be slowed by property owners who fail to invest in their buildings.

"They're being tentative, waiting to see what else is going to happen," Bright said. "When too many people buy property solely for speculative purposes, it can impede the revitalization of our downtown."


Randy Roark looks around his future office Thursday in the old Schloss and Kahn building, 121 Coosa St. in Montgomery. He has offices in the Commerce Building, which could be sold soon.



A deal is in the works to sell the Commerce Building at 100 Commerce St.
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  #164  
Old Posted Dec 17, 2005, 4:45 AM
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This would be a big plus for redevelopment downtown, but I was kinda' hoping it would be renovated for lofts or condos more so than a hotel.
Maybe the hotel would be better for this building, though... I think you would know more about this than I would, thoraudio. What do you think?

I remember the site you found a while back about the possible sale of this building. It's an interesting site. Here's the link.


Quote:
Originally Posted by nick1982
Tuskegee University assigned some of its fourth and fifth year architecture majors the task of designing a block of Downtown Montgomery. This was a couple of years back, though
Did you know any of those students who worked on that task?
I guess I would like to know if you can get some more info about it. I would love to see some of the ideas that they came up with on that project.
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  #165  
Old Posted Dec 17, 2005, 5:01 AM
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Well, since it looks like it ain't gonna happen, Here is a proposal I was putting together.

I got hooked up with a buddy of mine from school (you'd recognize the last name at least ), whose into real-estate and looking to do something. I got rental info, financials on the building etc.... (the reason that it's mostly empty is that the owners haven't been re-upping leases in order to try to sell for redevelopment).

The current contract on it has been going on for several months...

Anyway, at the asking price, it's an iffy proposition on condo's.... the first 2 floors would be retail/office only (the bank is open to the second floor with a mezzanine). That leaves 8 floors.

Six floors with 4452 sq ft/floor (4 units) = $890,000/floor at $200/sq ft. ($5.3)

top two floors with 5000 sq/ft (2 units each) = 2-3 million.

At best you're talking 8.3 + 2 floors of rental/lease.... say $10,000,000 final value. It's in pretty good shape, but I'd think it would take a significant portion of that to convert it... not even taking into account the lack of parking...

And I won't say how much they are asking, but it's too much (more than City Federal or Cabana IIRC).

Well, if this one goes away maybe I can convince him to look at something else...
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  #166  
Old Posted Dec 17, 2005, 5:22 AM
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Wow! Nice pics. I think that would have been great. I really like your proposal.

It's too bad that it may not happen...
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  #167  
Old Posted Dec 17, 2005, 8:02 PM
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yeah... the biggest + for the building is that it was redone in 1979. Interior is metal studs and drywall... easy demo and construction... upgraded fire suppression, and I think the asbestos was removed back then too.

But they used drop ceilings, so the original lathe and plaster is up there to be removed and dealt with.
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  #168  
Old Posted Dec 18, 2005, 10:01 PM
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Quote:
Originally Posted by thoraudio

I got hooked up with a buddy of mine from school (you'd recognize the last name at least ), whose into real-estate and looking to do something...


This buddy of yours...his last name doesn't happen to start with an 'L' does it?
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  #169  
Old Posted Dec 18, 2005, 10:49 PM
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LOWDER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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  #170  
Old Posted Dec 19, 2005, 3:17 AM
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Quote:
Originally Posted by bystander1
Quote:
Originally Posted by thoraudio

I got hooked up with a buddy of mine from school (you'd recognize the last name at least ), whose into real-estate and looking to do something...


This buddy of yours...his last name doesn't happen to start with an 'L' does it?
nope... that druggie graduated a year before I did
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  #171  
Old Posted Dec 23, 2005, 8:09 PM
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^^ Hmmm, I can't guess anymore. Give me a hint. ....A,...S,...B, ...top secret?
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  #172  
Old Posted Dec 24, 2005, 3:34 AM
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  #173  
Old Posted Dec 31, 2005, 4:18 AM
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OK, I give up, thoraudio. Who is he?

BTW, what's the latest on the Commerce Building deal?
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  #174  
Old Posted Dec 31, 2005, 4:45 PM
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Intermodal finally getting started....

Quote:
Bus transfer station building to begin

By Sebastian Kitchen
Montgomery Advertiser


Planning for a bus transfer station downtown started before Bobby Bright was elected mayor six years ago. Now, the building is going to begin.

The site on Molton Street across from the Embassy Suites hotel will be fenced next week and work will start immediately on the bus station and a 450-space parking deck, city officials said. The structures should be done in 12 to 18 months.

Construction has been delayed several times for a variety of reasons, including a lawsuit in federal court, which has been dismissed, and dealing with the federal government, which is funding 70 percent of the $15 million project. The remaining $4.5 million will come from city and state funds.

"I feel a sense of accomplishment," Bright said. "We've had to go through so much to get so little. It's a project that should have been built years ago."

A tower connecting the complex to the riverwalk is in a federal transportation bill awaiting congressional and presidential approval, Bright said. With the construction will come more parking headaches for downtown visitors and employees. About 200 spaces were lost with construction of the nearby convention center and the bus station complex will take about another 400, said Ken Groves, the city's planning director.

He said there are about 800 spaces at the baseball field.

"This will be a major in convenience when it comes to parking, especially when it comes to the lower Commerce Street historic district," Groves said.

There will be several changes beginning this week.

Public access will be closed to the Molton Street parking lot, west of Embassy Suites and Union Station, and the Commerce Street parking lot, along lower Commerce east of the hotel.

This week, the city is beginning a free shuttle from the lots east of Riverwalk Stadium to lower Commerce, Union Station and Embassy Suites. The shuttle will run every 10 minutes from 6:45 a.m. to 8:45 a.m. and from 3:45 p.m. to 5:45 p.m. Monday through Friday. The lots, which are also free, are along Columbus Street between McDonough and North Court streets. The Coosa Street parking lot will not be affected.

Groves encouraged people to use the shuttle, ride public buses or carpool.

"In the end," Groves said, "downtown will be a better quality place to work and to visit."
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  #175  
Old Posted Dec 31, 2005, 4:47 PM
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Updates for Old Cloverdale (our historic $$ neighborhood).

Quote:
Developers to give Cloverdale a touch of London

By David Irvin
Montgomery Advertiser


Cloverdale could look very different by this time next year.

Two local developers are planning to spend $10 million transforming a languishing building and empty lot on Cloverdale Road into a commercial, retail and residential area.

Harvi Sahota and Anna Lowder based their plan on London, where they lived for several years in an apartment above a store. In Cloverdale, they envision sidewalk cafes, stores and coffee shops along the street, all within walking distance of the neighborhood's cultural centers and living spaces.

The first phase, set to begin by spring and be finished by the end of the year, will include the largest building of the project and eight cottage-style residences on two adjacent lots. Sahota and Lowder, who are married to each other and operate as City Loft Corp., plan to sell the homes for $300,000 each.

To complete the development, the pair expects to add five more mixed-use buildings at 501 Cloverdale Road, which once housed an A&P grocery store. The store will be leveled, as will two houses in adjacent lots to make way for the eight cottages.

The area is represented by City Councilwoman Janet May, who calls it a critical bridge between Old Cloverdale and the Garden District.

"I am excited. Truly I am," May said "That part of my district needs development so badly."

Sahota and Lowder said they haven't heard any opposition, and no one in the area interviewed Thursday raised objections.

Linda Shogren is behind the idea. As co-owner of Old Cloverdale Antiques, located across the street from the A&P building, Shogren believes the new structures will spur other development.

"(Cloverdale) has just got an ambiance that you can't create in an open field," said Shogren, referring to the rapid growth of east Montgomery.

Tony Cofer is looking forward to the project's completion and a more livable Cloverdale.

"I live about five blocks from here," he said, standing beside the old A&P building, "and I'd much rather be able to walk over here than drive."

Part of $10 million and some development expertise will come from The Colonial Company, parent of Lowder New Homes.

"(Colonial) has the construction experience, and we have the design and urban experience, so it works well," said Lowder, who has family ties to Lowder New Homes.

Because the development is both commercial and residential, City Loft Corp. needed approval from the City Council to go forward. The City Council followed the city Planning Commission's recommendation and approved the development earlier this month.

The idea of mixed-use development is not a new one, but it is gaining ground in the Montgomery area. Early next year, the City Council will consider a smart growth code, which could be used to further develop older areas in a similar way.

This project, May said, "is exactly what smart growth is all about, because smart growth is basically about livable communities."
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  #176  
Old Posted Dec 31, 2005, 4:49 PM
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Quote:
Originally Posted by bystander1
OK, I give up, thoraudio. Who is he?

BTW, what's the latest on the Commerce Building deal?


His oldest son (Josh) and I were good friends at Trinity. Josh runs an appraisal firm and is looking to move into developing in some way.

cross your fingers
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  #177  
Old Posted Dec 31, 2005, 5:39 PM
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Yes, I've seen those signs all across the city. I really hope he has some big and fresh ideas for this area...which is sooooo ripe for new development, instead of the same developers who think too small in order to protect their other investments. We need more new or outside developers who don't have other properties in the area to protect that can bring in more of the new ideas that we're now seeing: Hampstead, Grove Park, Melrose, Homeplace, downtown lofts/condos...
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  #178  
Old Posted Jan 2, 2006, 3:46 PM
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Mayor doesn't want another Stuff-Mart....
Quote:
Fourth Wal-Mart for Montgomery?
Could yet another Wal-Mart be coming to Montgomery? Mayor Bobby Bright says, if he gets his way, the answer is no.

The capital city is already home to two Wal-Mart stores -- on the Southern Boulevard and the Atlanta Highway. A third Wal-Mart is under construction on Ann Street.

Now, there's talk of a fourth Wal-Mart possibly at the Mitylene exit off Interstate 85 in east Montgomery. But the mayor says he's against it.

"You can get too much of something and I think our area is saturated with Wal-Marts and big box retail stores," Mayor Bright told WSFA 12 News. "I'm tired of the big boxes coming in and siphoning off the local businesses."

The mayor says Wal-Mart has not approached him officially. The company also operates stores in Prattville and Wetumpka. A Millbrook store is also planned.
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  #179  
Old Posted Jan 3, 2006, 4:01 AM
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This has been speculated about for a couple of years now...especially since McClinton & Company, which has built all of the metro's Walmarts, has rights to develop the land.

A Walmart on US 31 next to Westport Shopping Center would have been the third one some years back (97,98?) before Walmart decided instead to relocate and upgrade the Southern Blvd. location one mile down the road into a supercenter.

Quote:
Now, there's talk of a fourth Wal-Mart possibly at the Mitylene exit off Interstate 85 in east Montgomery. But the mayor says he's against it.

"You can get too much of something and I think our area is saturated with Wal-Marts and big box retail stores," Mayor Bright told WSFA 12 News. "I'm tired of the big boxes coming in and siphoning off the local businesses."


I think the Mayor isn't really against a forth Walmart...just not near his Wynlakes home.

....Grandstanding.
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  #180  
Old Posted Jan 3, 2006, 5:34 AM
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Death To Walmart.
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