Montgomery development news

[thoraudio]

I know, Wal-mart = the devil... yadayadayada.

The Ann St. area (along with High St.) has been a low - moderate income area for a while, being bypassed by retail by growth in the 50's-60's. South of I-85 Ann Street turns into Zelda Rd, which is the closest thing Montgomery has to a dense, property scarce, development area. Zelda Rd. has several shops, restaurants, etc... punctuated by a new Publix and Starbucks.

The Wal-mart is going on the Ann St side, but is further establishing this area as Montgomery's 'mid-town', with continued development thats not in the core, but not in the far reaches either.

This area will also have Montgomery's worst traffic by far

Values surge on Ann Street

By David Irvin
Montgomery Advertiser

Properties surrounding a 45-acre retail project on Ann Street are ballooning in value as developers work to finish a brand new Wal-Mart Supercenter and other stores by late summer.

In addition to the world's largest retailer, the Midtown Plaza will have 100,000 square feet of retail space, with retailers like Ross Dress for Less, Office Depot and Dollar Tree. Most of the buildings are up but the parking lots haven't been paved.

Because of the traffic the plaza is expected to generate, some adjacent homeowners are trying to cash in by luring commercial developers to pay exorbitant prices for their homes.

However, just how much business is likely to flow over from the plaza to the other side of Ann Street is not certain, and how much owners can make is up for debate.

"It's almost impossible to invest over $30 million in an area of a community like this without getting a benefit for the community," said David McClinton, senior vice president of development for McClinton and Co., which is developing Midtown Plaza.

According to other developers in the area, properties that were selling for $40,000 two years ago are now selling at more than $160,000. Depending on the lot, it could go for between $10 and $20 per square foot on Ann Street.

"The ones that are still there, they are holding out for top dollar, and it remains to be seen if they are going to get it," said Bill Palmer, owner and president of the Palmer Companies.

Some homeowners may be aiming too high.

"At one time, there was a half acre that a guy was asking $1.5 million for, and that to me is unrealistic," said Stephen Saunders, the CEO and owner of Saunders Realty. "I think you will see one or two spillovers, but I don't think it is going to be as much as what you want to see."

Saunders said McClinton and Co. is best-positioned to land any national retailers or restaurants shopping for space. However, McClinton said 98 percent of its property has been leased, which means any additional retailers will have to locate somewhere else.

Some of the homes adjacent to the plaza have sold two or three times since 2004 as opportunistic "flippers" tried to realize quick gains on the project. Palmer's company is marketing an old home on the corner of Ann and Locust streets, and "we've got some serious interest in that property," he said.

Palmer anticipates all the homes still on Ann Street across from the development will eventually be replaced by businesses. Popeye's Chicken has moved into the block. Homes deeper in the neighborhood probably won't appreciate so sharply, he said, although long-term development should lead to general appreciation in those neighborhoods.

The plaza project is on pace to be finished by mid-October, though the Wal-Mart is set to open in late summer. To facilitate more traffic, lane expansions on Ann Street have occurred and additional expansions are planned as well as traffic lights in key intersections.

For some residents, it's just nice to have the development so close.

"I guess it doesn't really bother me, 'cause it will be easier to go to the store," said Misty Merrill, who has lived two years across from the Midtown Plaza site on Ann Street. "It's already a busy street, you know."

The Wal-Mart Supercenter is expected to open with 650 to 700 employees.

[bystander1]

Originally Posted by thoraudio

I know, Wal-mart = the devil... yadayadayada.

The Ann St. area (along with High St.) has been a low - moderate income area for a while, being bypassed by retail by growth in the 50's-60's. South of I-85 Ann Street turns into Zelda Rd, which is the closest thing Montgomery has to a dense, property scarce, development area. Zelda Rd. has several shops, restaurants, etc... punctuated by a new Publix and Starbucks.

The Wal-mart is going on the Ann St side, but is further establishing this area as Montgomery's 'mid-town', with continued development thats not in the core, but not in the far reaches either.

This area will also have Montgomery's worst traffic by far

Ann Street @ I-85 will be nothing less than absolutely horrible. There's no room under the I-85 overpass for already-much-needed dual turn lanes for both the North and Southbound on-ramps to I-85. It'll be scary to see how that works out...

[thoraudio]

In a bit of shameless civic promotion, I'd like to point out that the Biscuit's went over 100,000 in attendance in only the 20th home game, and are leading their division.

[bystander1]

There's a lot of development news coming out of downtown and midtown, but the bread-and-butter eastside continues to hum along too.

This article confirms some future projects I've wondered about for over a year...like the new shopping center coming to EastChase. Looks like the size has been increased from 300,000 sq ft. (according to website) to 500,000 sq ft. Ahhh, sprawl...

Business is booming in East Montgomery

By David Zaslawsky
Central Alabama Business Journal

MONTGOMERY - Although people debate the location of East Montgomery, there is no argument that the region is upscale from its subdivisions and retailers.

Where else do you find gourmet meals-ready-to-go along with a wine list that what make the finest restaurant envious?

The region is a retailer's dream. Alfa Realty Commercial Division bills the location of its Sturbridge Village shopping center in "the fastest growing, most affluent area of Montgomery."

The shopping center, which already features Winn-Dixie, Rite Aid and Applebee's, will soon be announcing expansion plans. The company's Web site talks about "continuing growth," room for "substantial enlargement as the market matures" and its location at the corner of Vaughn and Taylor roads - "the dominant intersection in this trade area."

What's behind Alfa's grandiose description? Try these projected 2009 numbers within a 5-mile radius of the shopping center from an Alfa Web site:
Population - 100,000
Households - 42,565
Average income -- $72,799
Retail sales -- $1.6 billion.

Alfa Realty Commercial Division calls its four-story, 100,000-square-foot Lakeview Center at The Office Park at EastChase "Montgomery's most fashionable office location." It is just the first phase of the office campus.
And the East Montgomery site has lured such heavy hitters as Jim Wilson & Associates, Merchant Capital, Goodwyn, Mills and Cawood and Morgan Stanley.

Office space is being added to Festival Plaza, which featured the country's first 16-screen Rave Motion Pictures theater. A 50,000-square-foot office tower will be added to Festival Plaza in spring of 2007, according to Southeast Real Estate Business.

David McClinton, senior vice president of development and brokerage for McClinton & Co. Inc. which developed Festival Plaza, told the Montgomery Advertiser, "We look for growth in East Montgomery to continue and are excited to have a top-notch location in such a great area of the city."

The Shoppes at Cornerstone, which features Stein Mart, Publix and another 20-plus stores, is located on the exclusive corner of Vaughn and Taylor roads. One of those stores will be Starbucks.

"Our line-up of stores will create over 119,000 square feet of great retailing in one of Montgomery's best locations, with everything from necessity items to the latest specialty stores," John Argo, vice president of retail development for Aronov, said in a statement.

On its Web site, Aronov states the location is "the busiest intersection in fast-growing East Montgomery with a combined traffic count of over 50,000 vehicles a day."

Pike Road is a small community in East Montgomery, but the town draws plenty of attention from retailers as earlier demographics showed 52 of the 74 owner-occupied homes are valued at $250,000 and up. Nineteen of the owner-occupied houses are valued at $400,000-$499,000. Twenty-one of the town's households have annual incomes of $200,000-plus.
The town's population has surged to 1,600-plus residents today and officials annexed land to create a business district.

"People are deciding to move up to something that is bigger, better and further east," said Don Bogie, director of the Center for Demographic Research at Auburn University Montgomery.

"As people become better off economically they keep moving further out. It's a pattern you see across the United States."

That's why East Montgomery is dotted with upscale jewelers and restaurants. But big-box retailers are also planning to cash in on the residents with plenty of disposable income. Home Depot has opened a store and Wal-Mart is building its fourth Montgomery store and first in East Montgomery.

Wal-Mart will help anchor the 350,000-square-foot Chantilly Station along with Lowe's, according to Southeast Real Estate Business.

Meanwhile, Jim Wilson & Associates are developing a 500,000-square-foot, $30 million shopping center called EastChase Market Center, which will feature two anchors and eight mid-box retailers, ranging from 25,000 square feet to 50,000 square feet.

The Shoppes at EastChase and The Plaza at EastChase drew retailers from other sections of Montgomery, including Dillard's. Other retailers were new to Montgomery: Target, Kohl's, Chico's, Abercrombie & Fitch, Williams-Sonoma, Banana Republic, Cost Plus World Market, PetsMart, Coldwater Creek and Ross Dress for Less.

Many of the upscale retailers followed the upscale subdivisions nearby. Rockbridge Place at Sturbridge offers new homes from the $400,000's. One of the featured homes by Alfa Builders is price at $531,000.

The 246-acre Taylor Lakes community is offering new homes in the $300,000's for the first two neighborhoods. There are six more neighborhoods in planning stages.

Who are these people living in East Montgomery?

According to information compiled by the Center for Demographic Research at Auburn University Montgomery from the 2000 U.S. Census, nearly 60 percent of the residents in East Montgomery recently moved to the area.

The median household income for East Montgomery was $52,458 through 1999, the latest year figures were available. About 29 percent of the East Montgomery households had annual incomes of $75,000-plus compared with 17.6 percent of all Montgomery households.

The Census Bureau divides areas into tracts and within East Montgomery there is a Census tract, which includes the Wynlakes subdivision, where almost 55 percent of the households had annual incomes of $75,000-plus. The median household income for that same tract was $82,565 in 1999.

Here are some other demographics about the Census tract, which includes Wynlakes:
96.4 percent have a high school diploma or above
60.6 percent have a bachelor's degree or above
Median value of the homes is $196,400
Nearly 55 percent are employed in upper-level white-collar jobs.
How do those numbers compared with the city of Montgomery?
80.7 have a high school diploma or above
29.4 percent have a bachelor's degree or above
Median value of the homes is $86,800
37 percent are employed in upper-level white-collar jobs.

According to Aronov's Web site, "The Shoppes at Cornerstone customers are highly motivated, well-educated young professionals with growing families. Active, upwardly mobile customers with a high concentration of double income families live, work, relax, and shop within the prosperous trade area surrounding the site. With a median age of 33, the lifestyle-conscious population earns an average yearly income in excess of $72,000."

Parker Collins, a senior planner with the Montgomery Planning Organization, earlier told the Central Alabama Business Journal he expects the rapid growth to continue in East Montgomery.

The area is expected to add 17,000 people by 2030, according to Bogie. That would give East Montgomery a well-heeled population of 48,531 - a 71 percent increase from today's population of 31,182.
That's more rooftops and retail follows rooftops.

[bystander1]

Originally Posted by thoraudio

In a bit of shameless civic promotion, I'd like to point out that the Biscuit's went over 100,000 in attendance in only the 20th home game, and are leading their division.

Cool. I wonder who's leading in attendance in the league so far?

[thoraudio]

Jacksonville

as of today (5-20) the numbers are as follows.



but Montgomery will never support a baseball team, and they'll be gone any day now

[DruidCity]

The Biscuits' attendance numbers are absolutely killing most of the others.

"West Tenn's" team must really suck.

[thoraudio]

Originally Posted by DruidCity

The Biscuits' attendance numbers are absolutely killing most of the others.

"West Tenn's" team must really suck.

the Diamond Jaxx are actually in second behind the Chattanooga Look Outs


The Biscuit's owners put a ton of $ and effort into promoting the games, doing promotions/fireworks etc... I wouldn't dare say that Montgomery is a super sports town, but the combo has been really good.

[DruidCity]

Jackson, TN doesn't seem like it belongs anywhere near that list of cities,really.

I wouldn't dare say that Montgomery is a super sports town, but the combo has been really good.

Montgomery appears to be doing better than a whole lot of other, larger cities.

It's pretty sad that the main pro sports franchise for the metro Birmingham area (1 million plus) is drawing just 3,433 a game.

[Brown Duckz]

Wow I finally found somewhere where people are talking about Montgomery. I'm posting from my office on Perry St. I signed up last night after reading over this entire thread. Let me say I'm very excited about the new construction/revitalization particularly in the downtown area. My biggest question and concern is when will the ball get rolling on an entertainment district for the thousands of tourist/business people that Montgomery plans to attract with there new construction?

[thoraudio]

welcome, glad you could join us.

Discussion of the grocer's alley development across from the ball park is on page 13.

They're trying to move foward, but the going is slow. I think we'll see alot more movement on that type stuff towards the end of next year when they are starting to wrap up the Civic Center and Intermodal. The city is trying to get somebody to do a mixed use development with the city funded parking structure next to the ballpark as well.

[Brown Duckz]

I've noticed you seem to be the Connoisseur when it comes to development in Montgomery... I've become very interested since the uprising lately here in Montgomery. I know there aren't any large office towers in proposal, but is there any talk of anything like that being built? Also... does anyone have a layout of the convention center site [cc, hotel, parking]. I'd like to know exactly where everything is going to be on that particular block. Seems like a lot of stuff being built in a small space.

[Brown Duckz]

Some pictures to add.





2 different views of riverfront.

[Brown Duckz]

The BEST rendering of the hotel I've seen as of yet.

[HSVTiger]

with the Bronner signature roof no less, should be a very nice hotel

[DruidCity]

That does look nice.

From the outside looking in, Montgomery's natural "peer cities" are Columbia, Little Rock, and Jackson, in terms of being centrally-located capital cities of a small southern states.

I think Montgomery is ready for a nice couple of decades of growth.

[Brown Duckz]

After the convention center/hotel and the rest of the downtown transformation is solid, the West I-85 extension, and Hyundai still rolling I expect great things from this city. This is the start of something that quite possibly could be unimaginable, as there is no telling what all Montgomery may attract soon.

[bystander1]

Welcome, Brown Duckz! I'm glad you decided to join. I've enjoyed reading your posts. Btw, where on Perry Street is you office located?

Here is the current layout of the new convention center. Hopefully something more detailed will come soon.

[Brown Duckz]

Originally Posted by bystander1

Welcome, Brown Duckz! I'm glad you decided to join. I've enjoyed reading your posts. Btw, where on Perry Street is you office located?

Here is the current layout of the new convention center. Hopefully something more detailed will come soon.

425 S. Perry St., the front is near the corner of High St. and the back parking lot is situated on Lawrence St. about .10 mile past the county courthouse. From the front parking lot I have one of my favorite views of the RSA Tower as it towers over First Baptist in the distance.

[bystander1]

You probably have a view similar to this...



...it's the only shot I can find of it from the north.


You won't be far away from the construction of the new county courthouse/jail when it begins sometime this summer. Not many more details about it so far though.