Out at I-565 And Research Park Blvd (it changes to Rideout Rd upon entering the Arsenal) progress continues
The City of Huntsville has now spent about $28 million laying the groundwork for a massive, Department of Defense-oriented office park near Gate 9 of Redstone Arsenal.
At its meeting Thursday night, the City Council approved two more infrastructure contacts for Phase I of the Redstone Gateway project, which includes about 200 acres immediately south of the junction of Interstate 565 and Rideout Road.
Christopher Professional Enterprises of Athens won a $535,815 contract to run electric, phone, fiberoptic and other communication lines along Market Street, the park's planned retail area.
Christopher was also awarded a $254,288 contract to install the water lines serving Market Street.
The four-lane, divided boulevard will eventually be home to 150,000 square feet of hotels, retail and service businesses, said Shane Davis, the city's director of urban planning.
Reed Contracting Services is being paid $5.3 million to build Market Street, as well as a four-lane loop road serving 22 large office buildings in the park's first phase. Reed is also relocating a portion of Overlook Road.
Davis said the city has only two major contracts left to award in the first phase: demolition of a former Huntsville Utilities substation, and final grading for a five-acre lake.
The $1 billion office park will eventually include 52 buildings for Army employees and defense contractors, two hotels, restaurants, stores and an academic campus surrounding Gate 9.
Maryland-based Corporate Office Properties Trust is developing the office space; Jim Wilson & Associates of Montgomery is handling the retail area.
Huntsville Finance Director Randy Taylor estimates Redstone Gateway will generate $275 million in new property and sales taxes for the city over the 35-year life of the development agreement.
Davis said Jim Wilson & Associates has had "tremendous response" from retailers and hotel chains.
"They're getting very close to getting some deals going and selecting the first hotel tenant," he said Thursday.
According to the park's website, redstonegateway.us, the first office building -- a five-story glass structure visible from the interstate -- is now ready for occupancy. Corporate Office Properties Trust recently hired Graham & Co. as the leasing agent and property manager for Redstone Gateway.
HSV Times article