HUNTSVILLE-Huntsville announces a $70 million mixed use development across from Big Spring Park on Williams and Monroe Streets.
Big Spring Square, developed by Central Realty Holdings of Greenville, SC, will build a hotel, retail, office, residential complex on the six-acre site formerly housed by the Holiday Inn. Construction will begin in spring 2015 with the complex open by summer 2016.
Key elements of $70- million Big Spring Square:
• Project awarded to the CRS Big Spring development team, which includes Central Realty Holdings of Greenville, SC, RCP Companies of Huntsville, and Strand Development Company of Myrtle Beach, SC.
• Minimum 100 key boutique hotel
• Approximately 80,000 square feet of mixed use space to include offices, restaurants and retail
• Approximately 200 residential units
• Multi-level parking deck
• Demolition to begin Nov. 2014 with construction in April 2015
• Project to open Summer 2016
• City retains ownership of land, and public-private venture includes a 99-year lease
• City retains oversight on the project’s design and use of the site
• City will be responsible for hardscape improvements along Monroe, Harvard and Williams, including new parking, crosswalks and other pedestrian-related amenities.
• The hardscape will add pedestrian connectivity to all adjoining uses including the Von Braun Center, Big Spring Park, the new Harvard extension and Twickenham Square
• The RFP presented a two-phase option for 8.66 acres of city-owned property.
• Phase I included the 6.28-acre Holiday Inn site
• Phase II included the adjacent 2.38-acre site that houses the Scruggs Community Center and Jim Williams Aquatic Center. The aquatic center is moving to the new Natatorium, scheduled for construction in 2016.
• Once Phase I is complete in 2016, CRS Big Spring will have an option on Phase II for another mixed use development.
MEDIA RELEASE/CITY OF HUNTSVILLE
