The City of Madison made a MAJOR announcement today, along with Wann Springs Developement Group.
We are on board for a major development that sits on 450 acres, north of County Line Road, and I-565. The mixed use developement project will include more than 4,000,000 square feet of shopping, dining, entertainment, residential, hotel and office developement!
Ground breaking will begin this summer.
Mayor Sandy Kirkindall said “This is the most important economic development project in Madison, Alabama to date”. The expected capital investment in the project will be approximately $1 Billion.
A large water feature of approximately 20 acres will be at the center of the project, fed by a natural spring. They are stating the project will be pedestrian friendly and will be bounded on the east by walking and biking paths adjacent to Bradford Creek winding through the new Greenway being develped by the City of Madison.
Quoting Bob Flowers, the Managing Parter of WSDG, “The consistent rate and quality of growth for the Madison, Alabama area and the promise of more to come, is impressive, not just for the Southeast, but across the USA. This is a very special market”.
The project is designed to meet all of our needs, including shopping, dining, medical and residential, for the Madison, Alabama community. With full build out of the masterplan, the project will represent more than a 15% increase of the entire metro area office market and a more than 8% expansion of the metro retail market. Now that excites me! New lodging amenities will include a 4 star hotel with meeting space and a new limited-service or extended-stay lodging as well. Plans are in the works for a regional arts center, including an indoor performing theater and an outdoor ampitheater. The office develpment will include opportunites for owner-occupied buildings, multi-tenant construction, and mixed-use buildings in the Town Center area with offices above shops and restaurants.
Madison, Alabama is already ranked in the top places to live, and this can only push us further up on the rankings. How excited for all of us that currently call Madison, Alabama home! If you are thinking of buying real estate, or selling real estate here in Madison, Alabama, I’d love the opportunity to help you make your real estate dreams come true.